Maharashtra inks Rs 35k cr MoU with JSW for RE sector

On Tuesday, the Maha Vikas Aghadi government received a significant boost in its ongoing plan to expand the renewable energy capacity in Maharashtra. The JSW Group has partnered with the state government with Rs 35,500 crore investment in the renewable energy sector. JSW Energy Ltd, the power business arm of JSW Group with 4559 MW of operational thermal, hydro and solar power capacity, aims to establish a 1,500 MW hydro-based power project in Nashik district and 5,000 MW wind power projects across 1870 hectares at Solapur, Kolhapur, Osmanabad and Satara districts. The firm expects to commence production in 18 months. As per the state industries department, the hydropower project will include Kalbhonde, Jammde, Kothale villages near Igatpuri in Nashik district. Subhash Desai, Industries Minister, promised that handholding and regulatory support needed for greening energy for a sustainable future, for its residence. The Government of Maharashtra is undertaking steps towards developing a sustainable environment with goals to decrease the grip of carbon footprint and control global warming. Maharashtra supports Renewable Energy as a sector, drawing multiple powerhouses to intensify the state’s sustainable energy capacity. This huge investment inflow will account for a significant rise in renewable energy sources within Maharashtra. While creating employment for more than 10000 people, these projects will also draw socio-economic development of the area by encouraging skill development, eco-tourism and service sector. Desai told the media that Maharashtra has emerged as a forerunner for business continuity programs with its ready-built industrial infrastructure, sector-specific build-to-suit offerings and highest FDI inflows. Maharashtra has consistently guaranteed strong performance across multiple investment parameters, even during and post lockdown under Magnetic Maharashtra 2.0 Maharashtra inked MoUs worth Rs 1,65,439 crore. Image Source Also read: India and US to expand energy partnership through emerging fuels