NLC and MAHAPREIT 5 GW Renewable Energy Projects

Planned

NLC India Renewables and Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) have signed a joint venture agreement to develop 5,000 MW of renewable energy projects in Maharashtra. The projects will include solar, wind, hybrid systems, floating solar, battery energy storage systems, and pumped storage, with an initial focus on developing 500 MW in the first phase. The joint venture company will have NLC India Renewables holding 74% equity and MAHAPREIT holding 26%. MAHAPREIT will assist in land identification and power evacuation infrastructure development, while NLC India Renewables will handle project reports, financing, and execution. Power generated will be sold through competitive and regulated channels to various customers.