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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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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
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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.
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.
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 |
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.
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.
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Source: PIB
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