NLC India Renewables Ltd (NIRL), a subsidiary of the state-owned coal mining company NLC India Ltd, has signed a joint venture agreement with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (MAHAPREIT), a Maharashtra government agency, to collaboratively develop renewable energy projects across the state.
The new joint venture aims to build a total of 5 GW of renewable energy capacity in Maharashtra, starting with an initial target of 2 GW. The projects will cover a range of technologies, including ground-mounted solar, wind, hybrid systems, floating solar, battery energy storage systems (BESS), and pumped hydro storage.
Ownership of the joint venture will be split with NIRL holding 74% and MAHAPREIT 26%. MAHAPREIT will assist in identifying and securing land for the projects as well as supporting the development of power evacuation infrastructure to connect with the grid. Meanwhile, NIRL will be responsible for preparing detailed project plans, securing financing, and overseeing project development.
The electricity generated will be sold through both regulated tariffs and competitive bidding routes, under Sections 62 and 63 of the Electricity Act, to distribution companies, government agencies, as well as commercial and industrial consumers.
NLC India is the first central public sector undertaking to establish 1 GW of renewable energy capacity in the country. The company aims to reach 10 GW of renewable capacity by 2030, supporting India’s goals for decarbonization and energy security.
NLC India Ltd, formerly known as Neyveli Lignite Corporation Limited, is a leading government-owned enterprise engaged in mining and power generation. Headquartered in Neyveli, Tamil Nadu, the company plays a pivotal role in India’s energy sector by operating a diverse portfolio of power projects, including lignite, coal, and renewable energy.
NLC India has significantly expanded its footprint in green energy with substantial investments in solar and wind power, aligning with the country’s commitment to sustainable development. With decades of expertise in energy production and a focus on innovation and sustainability, NLC India continues to contribute to India’s energy security and transition towards a greener future.
