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NLC India Renewables and MAHAPREIT to Develop 5 GW RE Projects in Maharashtra

NLC India Renewables, a wholly owned subsidiary of NLC India, has entered into a joint venture with Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) to develop 5,000 MW of renewable energy capacity in Maharashtra. The projects will span solar, wind, hybrid systems, floating solar, battery energy storage systems, and pumped hydro storage. The initial phase will focus on developing 500 MW.

Under the joint venture structure, NLC India Renewables will hold a 74% stake, while MAHAPREIT will hold 26%. MAHAPREIT will assist in land identification and power evacuation infrastructure, while NLC India Renewables will manage project reports, financing, and execution. Power generated from these projects will be sold through both competitive and regulated markets, catering to DISCOMs, government bodies, and commercial/industrial users.

In a parallel initiative, NLC India Renewables has also partnered with Rajasthan Rajya Vidyut Utpadan Nigam to form NIRL Rajasthan Renewables, following the same 74:26 equity structure for green energy development.

NLC India Renewables, established in June 2023, manages NLC India’s 1,431.26 MW of renewable assets, including ground-mounted, rooftop, floating solar, and wind projects. The company aims to achieve 10.11 GW of solar capacity by 2030, underscoring its commitment to India’s clean energy goals.