In a major push to advance India’s renewable energy goals, NLC India Renewables Limited (NIRL), a wholly-owned subsidiary of NLC India Limited, has signed a Joint Venture Agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) in Mumbai. The agreement formalizes a partnership first outlined in a Memorandum of Understanding signed on April 16, 2025.
The signing ceremony was held in the presence of Shri Vikram Dev Dutt, Secretary, Ministry of Coal; Shri Prasanna Kumar Motupalli, Chairman and Managing Director, NLC India Limited; Shri Bipin Shirmali, Managing Director, MAHAPREIT; Shri Vijaykumar Kalam Patil, Director (Operations), and senior officials from both organizations.
This partnership marks a significant step in NIRL’s expansion into Maharashtra’s rapidly growing renewable energy sector. The joint venture company to be formed under this agreement is tasked with developing up to 2,000 MW of renewable energy projects in the state, including solar, wind, hybrid systems, floating solar, battery energy storage systems (BESS), pumped storage, and solar parks. The first phase will focus on 500 MW, with an eventual goal of scaling up to 5,000 MW.
Under the equity structure of the joint venture, NIRL will hold a 74% stake while MAHAPREIT will retain the remaining 26%.
As part of the collaboration, MAHAPREIT will play a crucial role in identifying and securing land for the projects and facilitating the development of the power evacuation infrastructure to connect the projects to the grid. NIRL will be responsible for preparing detailed project reports, securing financing, and executing the development of the renewable energy projects.
The joint venture plans to sell electricity through both regulated and competitive routes, in accordance with Sections 62 and 63 of the Electricity Act. The targeted consumers include state distribution companies (DISCOMs), government institutions, and commercial and industrial users.
Speaking on the occasion, Shri Vikram Dev Dutt, Secretary, Ministry of Coal, stated that the agreement reflects the government’s dedication to forging collaborative initiatives that accelerate the shift to clean energy. “Maharashtra holds tremendous potential in renewable energy. With NIRL’s project execution capabilities and MAHAPREIT’s regional presence, this partnership is poised to be a key driver of sustainable development and energy security,” he said. He further emphasized the coal sector’s role in supporting India’s decarbonization mission, adding that such partnerships exemplify the kind of synergy needed to meet the country’s renewable energy and climate goals.
The agreement reinforces NLC India Limited’s position as a trusted leader in the green energy space and highlights the growing confidence in NIRL’s technical and operational expertise in delivering high-impact renewable energy solutions nationwide.
