NLC India in JV to Develop 2,000 MW of Renewable Energy Projects in Maharashtra
NLC India Renewables Ltd. (NIRL), a wholly-owned subsidiary of NLC India, has signed a Joint Venture (JV) agreement with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT). The JV aims for development Renewable Energy (RE) projects in Maharashtra.
JV Formed for Developing 2,000 MW of RE Projects in Maharashtra
NLC India Renewables and MAHAPREIT’s agreement includes development of 2,000 MW of renewable energy projects in Maharashtra. These projects will include solar, wind, hybrid, floating solar, Battery Energy Storage Systems (BESS), and pumped storage project. Additionally, the agreement includes the development of solar parks.
Under the terms of the agreement, MAHAPREIT will facilitate the identification and allocation of land for project development and will also be responsible for establishing the power evacuation infrastructure. NLC Indian Renewables Ltd., on the other hand, will handle the preparation of detailed project reports, secure financing, and execute the development of renewable energy projects.
The NIRL- MAHAPREIT JV may further expand its target to 5000 MW once the initial target is achieved.
Maharashtra Targets 38 GW RE Capacity by 2030
According to an article by The Financial Express dated 11th May 2025, Maharashtra is India’s largest industrial and power-consuming state and is expected to see a 6.5% annual increase in power demand. This growth translates to a requirement of over 280 billion units of electricity by 2030, with peak demand expected to rise from the current 29 GW to 45 GW by 2030.
The renewable energy projects mentioned above are expected to help meet this rising demand. Maharashtra has set a target of achieving 38 GW of installed renewable energy capacity by 2030. This initiative is projected to attract investments worth Rs. 3.3 lakh crore by 2030, driven primarily by the private sector.
About NLC India Renewables: NLC India Renewables Limited (NIRL), a wholly-owned subsidiary of NLC India Limited, was incorporated on 14th June 2023. The company focuses on development of Renewable Energy (RE) projects.
