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NLC India Signs JV With MAHAPREIT To Build 5GW Renewable Projects

Synopsis:

NLC India Renewables has entered into a Joint Venture with MAHAPREIT to establish 5,000MW of renewable capacity in Maharashtra. The initiative starts with a 500MW Phase I project. The agreement supports NLC's expansion and aligns with green energy goals.


In a strategic move to accelerate renewable energy expansion, NLC India Renewables Limited (NIRL), a fully owned subsidiary of NLC India Limited, has signed a Joint Venture Agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT). The new Joint Venture Company (JVC) will lead the development of 5,000MW of green energy projects in Maharashtra, beginning with a 500MW deployment under Phase I.

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NLC INDIA LIMITED

Trade

241.720.05 (0.02 %)

Updated - 30 May 2025
244.75day high
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240.16day low
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1265153
VOLUME (BSE)

Key Takeaways

  • Joint Venture targets 5,000MW total renewable capacity

  • Phase I to initiate with 500MW renewable projects

  • JVC equity split: 74% NIRL, 26% MAHAPREIT

  • Project scope includes solar, wind, hybrid, BESS, and solar parks

  • MAHAPREIT to aid in land identification and grid connectivity

  • NIRL to handle project reports, funding, and development

  • Power to be sold under Section 62/63 of Electricity Act

Also read: India to Become World’s 3rd Largest Economy by 2030: SECI Summit 2025

Massive Green Energy Rollout Planned In Phases

The newly formed JVC will initially focus on rolling out 500MW of renewable energy capacity. Over time, the project is planned to scale up to 5,000MW across Maharashtra. The development roadmap includes diverse technologies such as ground-mounted solar, floating solar, wind, hybrid systems, Battery Energy Storage Systems (BESS), pumped hydro storage, and integrated solar parks.

Role Distribution Between NIRL And MAHAPREIT

MAHAPREIT will support land identification, allocation, and power evacuation infrastructure, while NIRL will lead on feasibility studies, detailed project reports, arranging capital, and executing renewable projects. The power generated will be marketed to a mix of DISCOMs, public sector bodies, and private industrial users via competitive or regulated tariff mechanisms.

Table: Joint Venture Highlights

Component

Details

Total Planned Capacity

5,000MW

Phase I Capacity

500MW

JVC Equity Split

NIRL 74%, MAHAPREIT 26%

Technologies Covered

Solar, Wind, BESS, Floating Solar

Power Sale Mode

Section 62 / Section 63

Location

Maharashtra

NLC Expands Renewable Footprint Through Partnerships

The Joint Venture reinforces NLC India’s commitment to expanding its renewable footprint across India. This move into Maharashtra reflects its diversification strategy, complementing its existing projects and capabilities. As investor interest grows around clean energy, developments like this could positively influence the NLC share price in the long term.

Maharashtra To Emerge As Key Renewable Hub

The project not only contributes to India's national renewable goals but also positions Maharashtra as a key hub for green energy. With abundant land and increasing power demand, the state offers a strategic location for high-capacity projects. This partnership may also bring in large-scale investments, boosting economic and energy security.

This Joint Venture between NLC India Renewables and MAHAPREIT marks a major step in India’s green energy journey. With scalable project plans and integrated public sector collaboration, it lays the foundation for Maharashtra’s transformation into a major renewable energy hub, while reinforcing long-term investor confidence in NLC share price potential.

Also read: SEBI Notifies New F&O Rules With Higher Index Limits and Risk Measures

Source: PIB

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