NLC India Renewables Limited (NIRL), a subsidiary of NLC India Limited, and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) have established a joint venture to develop up to 2000 MW of renewable energy projects in Maharashtra, with plans to scale to 5000 MW. The joint venture company (JVC) will focus on solar, wind, hybrid, floating solar, BESS, pumped storage and solar parks, initially targeting 500 MW in Phase I. NIRL will hold 74% equity, and MAHAPREIT will hold 26%. MAHAPREIT will facilitate land identification and power evacuation, while NIRL will manage project reports, financing, and development. The JVC will sell power through competitive and regulated routes, targeting various consumer segments. The agreement signifies the government's commitment to renewable energy development and collaborative partnerships.
Key Entities Referenced
Ministry of Coal: Indian government ministry overseeing the coal sector.
NIRL: NLC India Renewables Limited, a wholly owned subsidiary of NLC India Limited.
MAHAPREIT: Mahatma Phule Renewable Energy and Infrastructure Technology Limited.
Maharashtra: A state in India where the joint venture will establish a green energy project.
NLC India Renewables Limited: Renewable energy subsidiary of NLC India Limited, also referred to as NIRL.
NLC India Limited: Parent company of NLC India Renewables Limited.
Joint Venture Agreement: Agreement signed between NIRL and MAHAPREIT to establish a joint venture.
Mahatma Phule Renewable Energy and Infrastructure Technology Limited: Renewable energy and infrastructure company, also referred to as MAHAPREIT.
Mumbai: City in India where the Joint Venture Agreement was signed.
Vikram Dev Dutt: Secretary, Ministry of Coal.
Prasanna Kumar Motupalli: Chairman Managing Director, NLC India Limited.
Bipin Shirmali: Managing Director, MAHAPREIT.
Vijaykumar Kalam Patil: Director Operations.
Memorandum of Understanding: Agreement signed between NIRL and MAHAPREIT on 16 April 2025, prior to the Joint Venture Agreement.
Joint Venture Company: Company to be formed by NIRL and MAHAPREIT to develop renewable energy projects.
2000 MW: Target capacity of renewable energy projects to be developed by the joint venture.
500 MW: Initial focus capacity of renewable energy projects to be developed in Phase I in Maharashtra.
5000 MW: Eventual capacity of renewable energy projects to be developed in Maharashtra.
Electricity Act: Law governing the power sector in India, specifically mentioning Section 62 or Section 63.
DISCOMs: Distribution Companies, potential customers for the power generated by the joint venture.
Shuhaib T: Name of individual associated with the press release, potentially author or contact.
India: Country where this agreement is taking place
Ministry of Coal
NIRL and MAHAPREIT Join Hands to Establish a
Green Energy
Joint Venture in Maharashtra
Posted On: 29 MAY 2025 5:31PM by PIB Delhi
In a significant move towards accelerating India’s renewable energy ambitions, NLC India Renewables
Limited (NIRL), a wholly owned subsidiary of NLC India Limited, signed a Joint Venture Agreement (JVA)
today with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) at
Mumbai. The signing took place in the august presence of Shri. Vikram Dev Dutt, Secretary, Ministry of
Coal, Shri. Prasanna Kumar Motupalli, Chairman & Managing Director, NLC India Limited, Shri. Bipin
Shirmali, Managing Director, MAHAPREIT, Shri. Vijaykumar Kalam Patil, Director Operations and senior
officials from NIRL & MAHAPREIT. This is in continuation to the Memorandum of Understanding (MoU)
th
signed between NIRL and MAHAPREIT on 16 April 2025.
This collaboration marks a major milestone in NIRL’s strategic expansion and foray into the State of
Maharashtra’s thriving renewable energy sector. The Joint Venture Company (JVC) to be formed under this
agreement will be instrumental in developing up to 2000 MW of renewable energy projects including solar,
wind, hybrid, floating solar, BESS, pumped storage and solar parks, with an initial focus on 500 MW in Phase
I, eventually scaling to 5000 MW in Maharashtra. The JVC will have an equity structure of 74% held by
NIRL and 26% by MAHAPREIT.
Under this Agreement, MAHAPREIT, will facilitate in identification & allotment of land for the projects in
addition to support development of Power Evacuation System to the Grid. NIRL on the other hand will help in
preparing the detailed project reports, arranging finance and Development of RE projects.
The JVC will undertake power sales through competitive and regulated routes under Section 62 or Section 63
of the Electricity Act, targeting a mix of DISCOMs, government entities, and commercial & industrial
consumers.
Secretary, Ministry of Coal Shri Vikram Dev Dutt said that the signing of this Joint Venture Agreement
between NIRL and MAHAPREIT is a demonstration of the Government’s commitment to fostering
collaborative partnerships that accelerate the country’s transition to green energy. He added that
Maharashtra’s renewable potential is immense, and with the proven expertise of NIRL in project execution
and the regional strength of MAHAPREIT, this joint venture will serve as a catalyst for sustainable growth
and energy security. The coal sector is actively supporting the decarbonization journey, and such partnerships
embody the synergy needed to achieve our national targets for renewable energy deployment and climate
resilience, said the secretary.
This Joint Venture Agreement stands as a testament to the credibility of NLC India Limited, its renewable
arm NIRL, and the growing trust in its technological and operational prowess in delivering world-class green
energy solutions across India.****
Shuhaib T
(Release ID: 2132384)