Wednesday, July 6th, 2022

Maharashtra Signs MoU Worth `35,000 Cr In Renewable Energy Sector


In a boost to investment in Maharashtra during the pandemic,the state government’s Industry Department signed 2 MoUs under the Magnetic Maharashtra 2.0 initiative with JSW, worth `35,500 crore in the renewable energy sector.

As per the MoUs, the company plans to invest `35,500 crore in the state by setting up a hydro-based power project of 1,500 MW power generation in villages like Jammde, Kalbhonde and Kothale near Igatpuri in Nashik district, and wind power projects of 5,000 MW power generation across 1,870 hectares in Kolhapur, Solapur, Satara and Osmanabad. The project, which will take 18 months to start, will supply cheap and green renewable power round-the-clock and help Maharashtra decrease its reliance on non-renewable energy.

Industries Minister Subhash Desai said, “This huge investment inflow in the state will amount to a considerable increase in renewable energy sources. While generating employment for more than 10,000 people, these projects will also bring socio-economic development by promoting eco-tourism, skill development and the service sector.”

“Maharashtra has consistently ensured strong performance across multiple investment parameters, even during and post-lockdown, under Magnetic Maharashtra 2.0, the state has managed to sign MoUs worth `1,65,439 crore,” Desai added.

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