In a strategic push to scale up India’s renewable energy capacity, NLC India Renewables Limited (NIRL) has signed a Joint Venture Agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) to develop green energy projects in Maharashtra.
The agreement, signed in Mumbai on 29 May 2025, marks a significant milestone in expanding clean energy in the state. The new Joint Venture Company (JVC) aims to develop up to 2000 MW of renewable energy capacity, including solar, wind, hybrid, floating solar, battery energy storage systems (BESS), pumped hydro storage, and solar parks. Phase I will initially focus on building 500 MW, with the ambition to scale up to 5000 MW across Maharashtra. Under the agreement, NIRL will hold a 74% equity stake in the JVC, while MAHAPREIT will retain 26%. MAHAPREIT will assist in identifying and allocating suitable land and will support the development of power evacuation infrastructure. NIRL will be responsible for project reports, financing, and execution of the renewable energy projects. The signing ceremony was attended by senior officials, including Shri Vikram Dev Dutt, Secretary (Coal), Government of India, who called the agreement a significant step in India’s green energy roadmap. “This joint venture exemplifies the Government’s commitment to collaborative partnerships that accelerate the country’s transition to green energy. Maharashtra’s renewable potential is immense,” he said.
Also present were Shri Prasanna Kumar Motupalli, Chairman and Managing Director of NLC India Limited, Shri Bipin Shirmali, Managing Director of MAHAPREIT, and other senior representatives from both entities. The agreement follows a Memorandum of Understanding (MoU) signed by the two organisations on 16 April 2025. The projects developed under this venture will supply power through competitive and regulated market routes under Sections 62 and 63 of the Electricity Act, targeting power distribution companies (DISCOMs), government agencies, and commercial and industrial consumers. The partnership underscores NLC India’s long-term renewable energy vision and further establishes NIRL’s position as a key player in India’s clean energy transition. The collaboration also highlights the coal sector’s role in supporting decarbonisation through diversified energy investments.
The venture is expected to not only contribute to India’s national renewable energy goals but also promote local economic development and energy security in Maharashtra.
