NLC India Renewables Limited

In a significant move towards accelerating India’s renewable energy ambitions, NLC India Renewables Limited (NIRL), a wholly owned subsidiary of NLC India Limited, signed a Joint Venture Agreement (JVA) today with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) at Mumbai.

This is in continuation of the Memorandum of Understanding (MoU) signed between NIRL and MAHAPREIT on 16^th April 2025.

Established in 1956, NLC India Limited (formerly Neyveli Lignite Corporation India Limited) is a government-owned company engaged in lignite mining and power generation with operations throughout the country.

NLC India Renewables Limited (NIRL) is a 100% renewable arm of NLC India, focusing on delivering clean energy solutions across India.

This collaboration marks a major milestone in NIRL’s strategic expansion and foray into the State of Maharashtra’s thriving renewable energy sector.

The Joint Venture Company (JVC) to be formed under this agreement will be instrumental in developing up to 2000 MW of renewable energy projects including solar, wind, hybrid, floating solar, BESS, pumped storage and solar parks, with an initial focus on 500 MW in Phase I, eventually scaling to 5000 MW in Maharashtra. The JVC will have an equity structure of 74% held by NIRL and 26% by MAHAPREIT.

Under this Agreement, MAHAPREIT will facilitate the identification and allotment of land for the projects, in addition to supporting the development of the Power Evacuation System to the Grid. NIRL, on the other hand, will help in preparing the detailed project reports, arranging finance and developing RE projects.

The JVC will undertake power sales through competitive and regulated routes under Section 62 or Section 63 of the Electricity Act, targeting a mix of DISCOMs, government entities, and commercial & industrial consumers.

Secretary, Ministry of Coal, Mr Vikram Dev Dutt, said that 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.

He added that 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 decarbonization journey, and such partnerships embody the synergy needed to achieve our national targets for renewable energy deployment and climate resilience, said the secretary.

This Joint Venture Agreement stands as a testament to the credibility of NLC India Limited, its renewable arm NIRL, and the growing trust in its technological and operational prowess in delivering world-class green energy solutions across India.