In a major boost to India’s clean energy ambitions, NLC India Renewables Ltd (NIRL), a subsidiary of NLC India Ltd, has signed a Joint Venture Agreement (JVA) with MAHAPREIT (Mahatma Phule Renewable Energy and Infrastructure Technology Ltd). The partnership aims to develop up to 5,000 MW of renewable energy projects across the state of Maharashtra.
The Joint Venture Company (JVC) will begin with a 500 MW capacity in Phase I, scaling up to 2,000 MW and eventually 5,000 MW. The project will include solar, wind, hybrid systems, floating solar, BESS (Battery Energy Storage Systems), pumped storage, and solar parks. NIRL will hold 74% equity, and MAHAPREIT will hold 26% in the new entity.
MAHAPREIT will support by providing land, power evacuation support, and facilitating permissions. Meanwhile, NIRL will handle project reports, financing, and execution. The power generated will be sold via competitive and regulated routes under Sections 62 and 63 of the Electricity Act, targeting DISCOMs, government bodies, and C&I consumers.
The agreement was signed in Mumbai, in the presence of Shri Vikram Dev Dutt (Secretary, Ministry of Coal), Shri Prasanna Kumar Motupalli (CMD, NLC India Ltd), and Shri Bipin Shirmali (MD, MAHAPREIT), among other senior officials. The alliance marks a significant step toward Maharashtra’s green energy goals, leveraging both expertise and state support.
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