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 jointly finance and promote green, climate-resilient, and sustainable infrastructure projects across rural India.
The partnership marks a significant step toward accelerating rural clean energy adoption while strengthening climate resilience, improving village infrastructure, and creating sustainable livelihood opportunities.
Focus on Rural Green Development
MAHAPREIT, a Government of Maharashtra enterprise, said the collaboration will initially focus on strengthening villages, Panchayati Raj Institutions (PRIs), and community-level infrastructure across Maharashtra before expanding similar initiatives.
The partnership combines NABARD’s expertise in rural development and climate finance with MAHAPREIT’s experience in renewable energy and sustainable infrastructure development.
Together, the two organisations will identify, develop, structure, and finance projects aimed at improving rural prosperity while supporting India’s clean energy and climate goals.
Priority Areas Identified
During the first phase of implementation, the partnership will focus on several key sectors, including:
- Renewable energy projects
- Decarbonisation of government buildings
- Gram Panchayat infrastructure
- Rural public institutions
- Water pumping schemes
- Climate-resilient community infrastructure
The initiative will also promote the deployment of clean energy systems in government hospitals, district hospitals, technical education institutions, and other public facilities serving rural communities.
Boost for Farmers and Rural Economy
One of the major objectives of the collaboration is to create additional income opportunities for farmers through renewable energy.
The organisations plan to finance:
- Biogas plants
- Bioenergy projects using agricultural residue and biomass
- Solar-powered micro cold storage facilities
- Clean energy infrastructure for rural communities
These projects are expected to support the circular economy by converting agricultural waste into renewable energy while reducing dependence on fossil fuels.
Solar-powered cold storage units are also expected to help farmers reduce post-harvest losses and improve agricultural incomes.
Part of MAHAPREIT’s Larger Renewable Energy Vision
The latest agreement adds to MAHAPREIT’s growing renewable energy partnerships.
Earlier, the company signed a joint venture with NLC India Renewables Limited (NIRL) 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 long-term plans to expand the portfolio to 5,000 MW in Maharashtra.
MAHAPREIT has also partnered with NTPC Green Energy Limited (NGEL) to jointly develop 10 GW of renewable energy parks and projects across Maharashtra and other states.
Supporting India’s Climate Goals
NABARD Chairman Shaji Krishnan V said the institution remains committed to working with organisations that promote a cleaner and greener rural India.
He described the partnership with MAHAPREIT as an important step toward expanding sustainable rural infrastructure while strengthening climate resilience at the grassroots level.
As India continues its transition toward clean energy, collaborations like this are expected to play a key role in improving rural infrastructure, promoting renewable energy adoption, supporting farmers, and contributing to the country’s long-term climate and sustainability goals.
Author
About the Author
