The National Bank for Agriculture and Rural Development (NABARD) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT), a Government of Maharashtra enterprise, have signed a Memorandum of Understanding (MoU) to promote and finance green, climate-resilient and sustainable infrastructure projects across rural India. The partnership will initially focus on Maharashtra before expanding to other parts of the country.
The collaboration brings together NABARD’s expertise in rural development financing, climate finance and green infrastructure with MAHAPREIT’s experience in developing renewable energy and sustainable infrastructure projects. Together, the two organisations aim to identify, develop, structure and finance projects that strengthen rural communities, improve public infrastructure and support long-term environmental sustainability.
The initiative is expected to play a key role in improving the quality of life in villages by encouraging investments in renewable energy, climate-resilient infrastructure and environmentally responsible public assets. It also supports India’s broader commitment to sustainable development and the transition towards a low-carbon economy.
The partnership will focus on strengthening infrastructure in villages, Panchayati Raj Institutions (PRIs) and community-level public facilities. Both organisations will work closely to create financing models that enable rural local bodies and government institutions to adopt clean energy solutions and sustainable infrastructure.
As part of the initial phase, NABARD and MAHAPREIT have identified several priority sectors for joint action. These include renewable energy projects, green energy infrastructure, decarbonisation initiatives for government buildings, and the development of climate-resilient infrastructure in gram panchayats and rural public institutions.
The collaboration will also support the deployment of clean energy systems in educational institutions managed by the Directorate of Technical Education (DTE), government hospitals, district hospitals and other public service facilities serving rural communities. These initiatives are expected to reduce energy costs, improve operational efficiency and lower carbon emissions.
Another important area of focus will be the promotion of biogas and bioenergy projects using agricultural residues and other biomass resources. These projects will not only generate clean energy but also provide additional income opportunities for farmers by creating value from agricultural waste. The initiative supports the development of a circular economy while encouraging the efficient utilisation of rural resources.
The two organisations also plan to finance solar-powered micro cold storage facilities for village-level institutions. These facilities will help reduce post-harvest losses, improve agricultural storage infrastructure and enable farmers to preserve perishable produce for longer periods, thereby improving rural incomes and strengthening agricultural value chains.
Speaking on the partnership, Dr Shaji Krishnan V, Chairman of NABARD, said the organisation remains committed to working with institutions that share its vision of building a cleaner and greener rural India. He said the collaboration with MAHAPREIT represents an important step towards expanding sustainable infrastructure and renewable energy projects that improve livelihoods while protecting the environment.
The MoU reflects the growing importance of green finance in supporting rural development. By combining technical expertise with financial resources, NABARD and MAHAPREIT aim to accelerate the adoption of renewable energy, climate-resilient infrastructure and sustainable public assets across rural India.
Established on 12 July 1982, NABARD is India’s premier development financial institution dedicated to agriculture and rural development. Headquartered in Mumbai, the organisation plays a vital role in promoting sustainable agriculture, strengthening rural infrastructure, supporting financial inclusion and improving the economic well-being of rural communities through innovative financing and development initiatives. The partnership with MAHAPREIT further reinforces NABARD’s commitment to driving sustainable growth and climate-resilient development across India’s villages.
