The National Bank for Agriculture and Rural Development (NABARD) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) have signed a Memorandum of Understanding (MoU) to promote and finance green, climate-resilient, and sustainable infrastructure across rural India.
According to MAHAPREIT, a Government of Maharashtra enterprise, the partnership will focus on strengthening villages, Panchayati Raj Institutions (PRIs), and community-level infrastructure, particularly in Maharashtra. The collaboration will combine NABARD’s expertise in rural development, climate finance, and green infrastructure funding with MAHAPREIT’s experience in developing climate-focused infrastructure projects.
Under the partnership, the organisations will identify, develop, structure, and finance projects aimed at improving rural prosperity, enhancing climate resilience, and supporting sustainable development. The initial focus areas include green energy deployment, decarbonisation of government buildings, gram panchayat infrastructure, rural public institutions, and solar-powered water pumping schemes.
The collaboration will also explore clean energy solutions for Directorate of Technical Education (DTE) institutions, government and district hospitals, and other public service facilities serving rural communities. In addition, NABARD and MAHAPREIT plan to support biogas and bioenergy projects using agricultural residues and other biomass resources. These projects are expected to create additional income opportunities for farmers while supporting the circular economy.
The partnership will further facilitate financing for solar-powered micro cold storage infrastructure at the village level. Such facilities could help improve local agricultural supply chains, reduce post-harvest losses, and provide rural communities with access to clean and decentralised energy solutions.
MAHAPREIT has previously entered into partnerships to expand renewable energy generation and energy storage infrastructure. The company signed a Joint Venture Agreement (JVA) with NLC India Renewables Limited (NIRL), a subsidiary of NLC India Limited, to develop up to 2,000 MW of renewable energy projects. The portfolio includes solar, wind, hybrid, floating solar, battery energy storage systems (BESS), pumped storage, and solar parks, with an initial 500 MW planned under Phase I. The joint venture has a long-term objective of scaling its renewable energy portfolio to 5,000 MW in Maharashtra, with NIRL holding a 74% equity stake and MAHAPREIT holding the remaining 26%.
MAHAPREIT has also partnered with NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, through a joint venture agreement to develop 10 GW of renewable energy parks and projects across Maharashtra and other states in India.
Commenting on the latest 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.”
The latest collaboration is expected to strengthen access to climate finance and accelerate the deployment of renewable energy, energy storage, bioenergy, and other sustainable infrastructure solutions in rural areas, supporting India’s broader clean energy and climate resilience goals.
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