The MoU combines NABARD’s expertise in rural development finance, climate finance, and green infrastructure financing with MAHAPREIT’s experience in climate-focused infrastructure development. Through this collaboration, the two organisations aim to identify, develop, structure, and finance sustainable projects that promote rural prosperity, strengthen climate resilience, and improve the quality of life in villages across India.
Previous Collaborations
Previously, Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) formed a Joint Venture Agreement (JVA) with NLC India Renewables Limited (NIRL), a subsidiary of NLC India Limited.
Under the partnership, the two companies agreed to develop up to 2,000 MW of renewable energy projects, including solar, wind, hybrid, floating solar, battery energy storage systems (BESS), pumped storage, and solar parks, with an initial focus on 500 MW under Phase I. The joint venture eventually plans to scale its renewable energy portfolio to 5,000 MW in Maharashtra. The joint venture company (JVC) will have an equity structure of 74% held by NIRL and 26% by MAHAPREIT.
Similarly, MAHAPREIT has also partnered with NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited. Under the agreement, the two entities signed a joint venture agreement to develop 10 GW of renewable energy parks and projects in Maharashtra and other states across India.
Building Green Infrastructure
As part of the initial phase, the organisations have identified priority areas including green energy, decarbonisation of government buildings, gram panchayat infrastructure, rural public institutions, and water pumping schemes.
