Green Energy Milestone: NLC India Partners with MAHAPREIT

NLC India Renewables Limited (NIRL), a subsidiary of NLC India Ltd, has announced a strategic joint venture with Maharashtra-based Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (MAHAPREIT). This agreement aims to accelerate the development of renewable energy projects, including solar and wind power, in Maharashtra.

The joint venture is set to develop up to 2000 MW of renewable energy projects, starting with an initial focus on 500 MW. Eventually, the project will scale to approximately 5000 MW, significantly boosting Maharashtra's green energy capacity. NIRL will take a 74% equity stake in the venture, while MAHAPREIT will hold the remaining 26%.

The collaboration leverages NIRL's project execution expertise and MAHAPREIT's regional strengths. The partnership will focus on identifying land for projects and establishing a power evacuation system. Target consumers will include DISCOMs, government entities, and commercial consumers. This venture symbolizes a substantial step towards India's renewable energy goals.

(With inputs from agencies.)