The Maharashtra government has inked four Memorandums of Understandings (MoUs) worth Rs 475 billion for renewable energy generation. These MoUs have been signed with SJVN, MahaGenco Renewable Energy Limited, REC Power Development and Consultancy Limited (RECPDCL), THDC and HPRGE-HPCL. All this is an effort to reach 50 per cent renewable energy by 2030 in Maharashtra.
The MoU with RECPDCL has been signed for the development of renewable energy projects commercially viable for both the company and the state. Initially, a joint venture with equal equity stake will be set up to develop a hybrid project of 500 MW. This collaboration will leverage core strengths in project/infrastructure development and engineering/manufacturing mainly for the development of renewable energy projects. The initial investment in the project is Rs 30 billion.
THDCIL-THDC in collaboration with the Maharashtra state government will develop renewable energy projects with a generation capacity of 250 MW. This will be done at an investment of Rs 293.29 billion.
SJVN and MahaGenco will be developing a 505 MW floating solar plant in Lower Wardha dam through a JV. The equity stake is 51:49 percent in favour of SJVN. A 732-hectare site has already been proposed for the same. The project may be developed in two possible phases: Phase-1 of 100 MW and Phase-2 of 405 MW. It will require an investment of Rs 30.30 billion and will generate 1,400 jobs.
