NLC, MAHAPREIT inks JV in Maharashtra

30 May 2025 , 11:00 AM

NLC India Limited, a government based enterprise, announced that its subsidiary NLC India Renewables Ltd (NIRL), and Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (MAHAPREIT), inked a joint venture agreement. The agreement is for joint development of energy projects in Maharashtra.

The two companies formalized the pact in presence of senior government officials. This marks a major milestone in the company’s expansion strategy into Maharashtra’s clean energy sector, the company stated in its filing.

The scope of this Joint Venture agreement includes projects across solar, wind, pumped hydro storage, solar parks, hybrid, floating solar, and battery energy storage systems (BESS).

The company also informed that in the initial phase, it shall focus on achieving 2 GM of capacity. On the other hand, MAHAPREIT will provide land and infrastructure support, and NIRL will lead the technical and financial execution.

As per the terms of agreement, MAHAPREIT will support the acquisition of land and power evacuation infrastructure. NIRL will manage detailed project reports, project development, and financing. 

Power generated by the company shall be sold off through both regulated and competitive routes as laid down by Section 62 & 63 of the Electricity Act.

At around 10.57 AM, NLC was trading 0.18% lower at ₹241.23, against the previous close of ₹241.67 on NSE. The counter touched an intraday high and low of ₹244.75, and ₹241, respectively.

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