JSW Energy to invest Rs 35,500 crore in green energy projects in Maharashtra

The Maharashtra government and power major JWS Energy Ltd have signed two Memorandums of understanding (MoUs) to set up two green projects worth Rs 35,500 crore to generate 6,500 megawatts (MW) of clean energy in northern and western Maharashtra.

Investment inflow from JSW will account for a considerable increase in renewable energy sources within Maharashtra and provide employment to over 10,000 people. It will also give a fillip to the social-economical-tourism development in these areas.

This is a part of JSW Energy’s $ 10 billion plan to produce clean energy by 2030, as reported here in July this year.

According to the MOUs, JSW Energy Ltd, the power business arm of the JSW Group with 4559 MW of operational thermal, hydro and solar power capacities will set up 1,500 MW hydro-based power project in Nashik district and 5,000 MW wind power projects spread across 1870 hectares at Kolhapur, Solapur, Satara & Osmanabad districts of Maharashtra. The company expects to commence the generation in 18 months.

Industry Minister Subhash Desai said, “The two new projects will supply cheap and green renewable power round the clock, and help Maharashtra reduce its dependence on non-renewable sources of energy”. He has also assured the company of full cooperation in securing the requisite regulatory support.

“We are making rapid strides towards building a sustainable environment with aspirations to reduce the grip of carbon footprint and curb global warming by encouraging renewable energy as a sector, and attracting multiple power houses to enhance the state’s sustainable energy capacity,” added Desai.

The minister said that the state has consistently shown strong performance across multiple investments parameters, both during and post the lockdown periods. Further, Maharashtra has emerged as a forerunner for business continuity plans with its ready-built industrial infrastructure, sector-specific build-to-suit offerings, and highest FDI inflows.

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