Maharashtra's Renewable Energy Leap: A New Joint Venture

Maharashtra's cabinet approved a joint venture between Mahagenco and Sutlej Jal Vidyut Nigam Ltd to develop 5,000 MW of renewable energy. The projects support the state's goal to generate 50% renewable energy by 2030. Initial projects include hydro, solar, and green hydrogen initiatives.

In a strategic move, the Maharashtra cabinet has sanctioned a joint venture to propel the state towards renewable energy dominance. The venture, involving state-run Mahagenco and Sutlej Jal Vidyut Nigam Ltd (SJVN), aims to develop renewable projects with a staggering 5,000 MW capacity.

The initiative aligns with Maharashtra's ambitious target of harnessing 50% of its power from renewable sources by 2030 and 75% by 2047, in tandem with India's objective to achieve net zero carbon emissions by 2070. Currently, Mahagenco generates 428 MW of renewable energy.

Under a memorandum signed in June, the collaboration will focus on projects ranging from pumped storage hydro to solar-wind hybrids and green hydrogen ventures. Initial projects, totaling 735 MW, include Ghatghar Phase-2 lift hydro and two floating solar projects. Chief Minister Devendra Fadnavis chaired the approval meeting.

(With inputs from agencies.)