NLC India Renewables Ltd (NIRL), a subsidiary of NLC India under the Ministry of Coal, has joined forces with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (MAHAPREIT) to form a joint venture company (JVC). The new entity will develop 2,000 MW of renewable energy projects across Maharashtra, positioning the state as a major player in India’s clean energy transition.
Diverse Project Portfolio and Phased Rollout
The planned renewable projects will span a broad range of technologies, including solar, wind, hybrid systems, floating solar, battery energy storage systems (BESS), pumped hydro storage, and solar parks. The partnership will initially target 500 MW under Phase I, with a long-term goal of scaling up to 5,000 MW.
Equity Structure and Role Distribution
Under the joint venture agreement, NIRL will hold a 74% equity stake, while MAHAPREIT will retain 26%. Each partner will play a critical role:
- MAHAPREIT will take the lead in land identification, acquisition, and development of the power evacuation infrastructure.
- NIRL will be responsible for project planning, including the preparation of detailed project reports (DPRs), fund mobilization, and overall execution and implementation.
Accelerating Maharashtra’s Clean Energy Transition
The joint venture marks a significant milestone in Maharashtra’s journey toward sustainable development. As reported by projectstoday.com, it also aligns with India’s national renewable energy goals, strengthening public sector collaboration in building large-scale, future-ready energy infrastructure.
