Chennai, 29 May (H.S.) : NLC India Renewables Limited (NIRL) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) signed a Joint Venture Agreement (JVA) to establish a green energy joint venture in Maharashtra. The agreement was signed in the presence of senior officials from both companies and Shri. Vikram Dev Dutt, IAS, Hon'ble Secretary (Coal), Government of India.

The joint venture aims to develop up to 2000 MW of renewable energy projects, including solar, wind, and hybrid projects, with an initial focus on 500 MW in Phase I. The joint venture company will have an equity structure of 74% held by NIRL and 26% by MAHAPREIT. MAHAPREIT will facilitate land identification and allotment, while NIRL will prepare detailed project reports and arrange financing.

The partnership is expected to accelerate India's transition to green energy and contribute to the country's renewable energy targets. The joint venture will undertake power sales through competitive and regulated routes, targeting a mix of DISCOMs, government entities, and commercial and industrial consumers.

Shri. Vikram Dev Dutt, IAS, Hon'ble Secretary (Coal), Government of India, praised the partnership, stating that it demonstrates the government's commitment to fostering collaborative partnerships that accelerate the country's transition to green energy. The agreement marks a significant milestone in NIRL's strategic expansion and foray into Maharashtra's thriving renewable energy sector.

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Hindusthan Samachar / Dr. R. B. Chaudhary