NABARD Signs MoU with MAHAPREIT to Accelerate Green Infrastructure and Renewable Energy Projects in Rural India
The partnership will initially focus on Maharashtra, with an emphasis on strengthening villages, Panchayati Raj Institutions
The National Bank for Agriculture and Rural Development (NABARD) has signed a Memorandum of Understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT), a Government of Maharashtra enterprise, to jointly finance and promote green, climate-resilient and sustainable infrastructure across rural India.
The partnership will initially focus on Maharashtra, with an emphasis on strengthening villages, Panchayati Raj Institutions (PRIs) and community-level infrastructure through innovative climate-friendly projects.
The collaboration combines NABARD’s expertise in rural development finance, climate finance and green infrastructure funding with MAHAPREIT’s experience in developing renewable energy and climate-focused infrastructure. Together, the two organisations will identify, structure, develop and finance sustainable projects that enhance rural prosperity, improve climate resilience and elevate the quality of life in villages across the country.
Speaking on the partnership, Dr. Shaji Krishnan V, Chairman, 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.”
Under the initial phase of collaboration, NABARD and MAHAPREIT will focus on financing projects related to:
- Green energy and renewable power generation
- Decarbonisation of government buildings
- Gram Panchayat infrastructure development
- Rural public institutions and community assets
- Water pumping schemes powered by clean energy
- Renewable energy solutions for Directorate of Technical Education (DTE) institutions
- Government and district hospitals serving rural communities
The partnership also aims to promote biogas and bioenergy generation using agricultural residues and biomass resources. These initiatives are expected to create additional income opportunities for farmers while supporting the circular economy.
Another major area of collaboration will be the financing of solar-powered micro cold storage infrastructure for village-level bodies, helping reduce post-harvest losses, improve agricultural value chains and strengthen rural livelihoods.
The NABARD-MAHAPREIT partnership marks an important step towards accelerating India’s rural energy transition by expanding access to sustainable infrastructure, promoting clean energy adoption and supporting climate-resilient development in villages across the country.
