NIRL and MAHAPREIT Partners to Launch Green Energy Projects

In a major development supporting India’s green energy objectives, NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, signed a JVA with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) in Mumbai. This move follows the earlier MoU signed between the 2 entities on 16th April 2025 and represents a significant step in strengthening Maharashtra’s renewable energy landscape.

Strategic Vision for Renewable Energy in Maharashtra

This collaboration marks NIRL’s entry into Maharashtra’s thriving renewable energy sector through the formation of a Joint Venture Company (JVC). The company will develop up to 2000 MW of renewable projects, including solar, wind, hybrid, floating solar, battery energy storage systems (BESS), pumped storage, and solar parks. The 1st phase will focus on 500 MW, with plans to scale up to 5000 MW in total.

The equity structure of the JVC will comprise 74% shareholding by NIRL and 26% by MAHAPREIT. While MAHAPREIT will support the identification and allotment of land and assist in developing power evacuation systems, NIRL will be responsible for preparing detailed project reports, securing finance, and project development.

Commitment to a Greener Future

The JVC will execute power sales through both competitive and regulated routes under Section 62 and Section 63 of the Electricity Act. The targeted clientele includes distribution companies (DISCOMs), government bodies, and commercial & industrial consumers.

Commenting on the partnership, Shri Vikram Dev Dutt, Secretary, Ministry of Coal, stated, “The signing of this Joint Venture Agreement between NIRL and MAHAPREIT is a demonstration of the Government’s commitment to fostering collaborative partnerships that accelerate the country’s transition to green energy. Maharashtra’s renewable potential is immense, and with the proven expertise of NIRL in project execution and the regional strength of MAHAPREIT, this joint venture will serve as a catalyst for sustainable growth and energy security. The coal sector is actively supporting the decarbonisation journey, and such partnerships embody the synergy needed to achieve our national targets for renewable energy deployment and climate resilience.”

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NLC India Share Performance 

As of May 30, 2025, at 11:35 AM, NLC India share price traded at ₹242.26 per share, reflecting a surge of 0.24% from the previous day's closing price. Over the past month, the stock has surged by 6.45%.

Conclusion

This Joint Venture Agreement highlights the growing confidence in NLC India Limited and its renewable arm, NIRL, showcasing their capabilities in driving large-scale green energy projects. It also reinforces the central government's vision of collaborative efforts as a foundation for a sustainable, energy-secure future.

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