Maharashtra signs Rs 47,500-crore renewables deals

The Maharashtra government, which is taking a slew of decisions to achieve the Centre's ambitious target of zero carbon emission by 2070, on Thursday signed MoUs with four worth Rs 47,500 crore for renewable energy generation.

These companies included SJVN, MahaGenco Renewable Energy Ltd, RECPDCL, THDC and HPRGE-HPCL.

These projects will be in line with the state government's aim to achieve 50 per cent renewable energy by 2030. The development of these projects will create 18,828 jobs, said the state Deputy Chief Minister and Energy and Irrigation Minister Devendra Fadnavis at the MoU signing function.
Fadnavis said that the state government will extend necessary cooperation to implement these projects in a stipulated time frame.

RECPDCL – REC ( RECPDCL – REC ) Power Development and Consultancy Limited will work together to leverage core strengths in project/infrastructure development and engineering/manufacturing mainly for the development of renewable energy projects.

The company and the state government will work together for the development of renewable energy projects that are commercially viable for both parties.

Initially, a hybrid project of 500 MW will be developed as per mutually agreeable equity participation through a joint venture company. The project entails an investment of Rs 3,000 crore and it will generate 1,663 jobs.

With the state government's MoU with THDCIL-THDC, renewable energy projects with a generation capacity of n4,250 mw will be developed in the state with an investment of Rs 29,329 crore. It will create 14,130 direct and 4,250 indirect jobs.

The MoU with HPRGE-HPCL Renewable and Green Energy Limited Company is to develop a 50 KTPA green hydrogen and its derivative plant at MahaGenco's gas-based power project situated in Uran in Raigad district.

This will be developed through a joint venture company with an investment of Rs 12,000 crore. The project will create 1,635 direct and indirect jobs.

SJVN is considering the development of a floating solar power plant on Lower Wardha Dam in a joint venture with MahaGenco with 51:49 per cent equity participation. The MahaGenco has conducted a pre-feasibility study which includes a bathymetry survey, and has proposed a 732-hectare site for developing a 505 MW floating solar plant at Lower Wardha.

Considering the availability of power transmission infrastructure, the project can be developed in two phases: Phase-1- 100 MW and Phase-2- 405 MW. It entails an investment of Rs 3,030 crore and it will generate 1,400 jobs.