Joint Venture29 May 2025, 04:01 pm
NLC India Ltd Subsidiary & Mahatma Phule Renewable Energy to Establish Green Energy JV in Maharashtra
AI Summary
NL.C India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, signed a Joint Venture Agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) to develop up to 2000 MW of renewable energy projects in Maharashtra. The Joint Venture Company (JVC) will have an equity structure of 74% held by NIRL and 26% by MAHAPREIT. The JVC will undertake power sales through competitive and regulated routes under the Electricity Act, targeting a mix of DISCOMs, government entities, and commercial & industrial consumers.
Key Highlights
- NLC India Ltd subsidiary NIRL and MAHAPREIT sign Joint Venture Agreement for renewable energy projects in Maharashtra.
- The Joint Venture Company (JVC) aims to develop up to 2000 MW of renewable energy projects, initially focusing on 500 MW in Phase I.
- MAHAPREIT will facilitate identification & allotment of land and support the development of Power Evacuation System, while NIRL will prepare DPRs, arrange finance, and develop RE projects.
- The JVC will undertake power sales through competitive and regulated routes under the Electricity Act.
- The collaboration marks a major milestone in NIRL’s strategic expansion and foray into Maharashtra’s thriving renewable energy sector.