Maharashtra Govt and SJVN Form JV for 5,000 MW Renewable Projects
POWER & RENEWABLE ENERGY

Maharashtra Govt and SJVN Form JV for 5,000 MW Renewable Projects

The Maharashtra government has approved the formation of a joint venture (JV) between Maharashtra State Power Generation Company (Mahagenco) and SJVN to develop 5,000 MW of renewable energy projects. The decision was cleared at a cabinet meeting chaired by Chief Minister Devendra Fadnavis.

The initiative supports Maharashtra’s renewable energy roadmap—targeting 50% clean power by 2030 and 75 per cent by 2047—in line with India’s net-zero 2070 goal. Currently, Mahagenco generates 428 MW of renewable power.

Under the JV, SJVN will hold 51 per cent equity, while Mahagenco will hold 49 per cent, with a debt-equity ratio of 70:30 or 80:20. Mahagenco will fund its equity contribution. Governance will include a board of 6–10 directors with equal representation. The chairperson will be nominated by SJVN for the first three years, while the CEO will come from SJVN, CFO from Mahagenco, and COO will rotate.

In the first phase, projects totalling 735 MW will be developed, including Ghatghar Phase-2 Lift Hydro (125 MW), Irai Floating Solar (105 MW), and Nimnawardha Floating Solar (505 MW). The JV will also explore solar-wind hybrids, floating solar, pumped hydro, and green hydrogen-linked projects.

News source: The Week


The Maharashtra government has approved the formation of a joint venture (JV) between Maharashtra State Power Generation Company (Mahagenco) and SJVN to develop 5,000 MW of renewable energy projects. The decision was cleared at a cabinet meeting chaired by Chief Minister Devendra Fadnavis.The initiative supports Maharashtra’s renewable energy roadmap—targeting 50% clean power by 2030 and 75 per cent by 2047—in line with India’s net-zero 2070 goal. Currently, Mahagenco generates 428 MW of renewable power.Under the JV, SJVN will hold 51 per cent equity, while Mahagenco will hold 49 per cent, with a debt-equity ratio of 70:30 or 80:20. Mahagenco will fund its equity contribution. Governance will include a board of 6–10 directors with equal representation. The chairperson will be nominated by SJVN for the first three years, while the CEO will come from SJVN, CFO from Mahagenco, and COO will rotate.In the first phase, projects totalling 735 MW will be developed, including Ghatghar Phase-2 Lift Hydro (125 MW), Irai Floating Solar (105 MW), and Nimnawardha Floating Solar (505 MW). The JV will also explore solar-wind hybrids, floating solar, pumped hydro, and green hydrogen-linked projects.News source: The Week

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code