NABARD, MAHAPREIT to bolster biomass & biogas infra in rural India

NABARD and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) have entered a Memorandum of Understanding (MoU) to finance and promote green, climate-resilient, and sustainable infrastructure across rural India.

In an official statement, MAHAPREIT, a Government of Maharashtra enterprise, said that its entering the latest partnership to focus on strengthening villages, Panchayati Raj Institutions (PRIs), and community-level infrastructure in Maharashtra.

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.

Their collaborative plan also includes deploying clean energy solutions for Directorate of Technical Education (DTE) institutions, government hospitals, district hospitals, and other public service institutions serving rural communities.

The partnership will also support the financing of biogas and bioenergy generation projects using agricultural residues and other biomass resources, creating additional income opportunities for farmers while promoting the circular economy. In addition, the two organisations will finance solar-powered micro cold storage infrastructure for village-level bodies.

Commenting on the partnership, Shaji Krishnan V, Chairman of NABARD, said, “NABARD is committed to working with all like-minded stakeholders in furthering a cleaner and greener rural India. We see this MoU with MAHAPREIT as a significant step in this direction.”