Mumbai, May 30 -- The Joint venture company (JVC) to be formed under this agreement will be instrumental in developing up to 2000 MW of renewable energy projects including solar, wind , hybrid, floating solar, BESS, pumped storage and solar parks, with an initial focus on 500 MW in Phase -I eventually scaling to 5000 MW in Maharashtra. The JVC will have an equity structure of 74% held by NIRL and 26% by MAHAPREIT.

Under this Agreement, MAHAPREIT, will facilitate in identification & allotment of land for the projects in additions to support development of power evacuation system to the Grid. NIRL on the other hand will help in preparing the detailed project reports, arranging finance and development of RE projects.

Statement from Hon'ble...