Maharashtra, ReNew Power Sign Rs 50,000 Crore RE MoU In Davos

Highlights :

The project will create 30,000 jobs. More investment will also be made in other renewable energy projects like hybrid energy, green hydrogen plant.

The Maharashtra energy department and ReNew power, one of India’s leading renewable energy companies, signed an MoU of Rs 50,000 crore in Davos on May 24 for investments in renewable energy in the state for the next six to seven years.

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Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) Managing Director Vijay Singhal signed the MoU in the presence of Maharashtra tourism and environment minister Aaditya Thackeray in Davos, where he is attending the World Economic Forum (WEF) along with state industries minister Subhash Desai and energy minister Nitin Raut.

Mr Singhal told the media that this was one of the biggest investments for the state in the energy sector, particularly in the field of solar and wind. A MSEDCL official added, “This will create 30,000 jobs. More investment will also be made in other renewable energy projects like hybrid energy, green hydrogen plant”.

Taking a leaf out of other states, Maharashtra has pressed urgency to go for an ambitious drive of Renewable projects. A couple of days ago, IREDA announced that it had sanctioned the loans of Rs 14,445 crore and had already disbursed more than Rs 10,000 crore in Maharashtra for renewable energy projects. IREDA CMD PK Das emphasised IREDA’s commitment to the development of renewable RE projects in Maharashtra. He stated that out of a total loan sanctioned by IREDA of Rs. 1,20,946 crores, Rs. 14,445 crores were sanctioned for 422 RE project accounts in Maharashtra.

Reflecting the urgent need for renewable push in the state, Mahratta Chamber of Commerce Industries and Agriculture (MCCAI) had conducted a workshop on ‘Greening India Through Renewables’ in last week Pune calling upon the stakeholders to stand up to the crisis. Prashant Girbane, Director General, MCCAI, added in the same refrain that greening India through renewables is very important for energy cost reduction as well as the creation of job opportunities.

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