Maha: JWS to invest Rs 35,500 crore in green energy projects
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
The Maharashtra government and power major JWS Energy Ltd on Tuesday signed two MoUs to set up two green projects worth Rs 35,500 crore to generate 6,500 MW clean energy in northern and western Maharashtra, Industry Minister Subhash Desai said.
This would comprise a 1,500 MW hydro-based power project in Nashik and a 5,000 MW wind power project spread across 1,870 hectares in Kolhapur, Solapur, Satara and Osmanabad, to be set up within 18 months.
"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," said Desai.
He assured the company of full cooperation in securing the requisite regulatory support.
JSW Energy Ltd is the power arm of business conglomerate JSW Group, which has 4,559 MW of operational thermal, hydro and solar energy capacity.
"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," Desai pointed out.
The investment inflow from JSW will account for a considerable increase in renewable energy sources within Maharashtra and provide employment to over 10,000 people, besides giving a fillip to the social-economical-tourism development in these areas.
Besides Desai, those present on the occasion included Joint Managing Director and CEO of JSW Energy Ltd, Prashant Jain, MIDC CEO P. Anbalagan, Additional Chief Secretary Baldev Singh, Development Commissioner Harshdeep Kamble and other officials from both sides.
The minister said that the state has consistently shown strong performance across multiple investment parameters, both during and post the lockdown periods.
"Under the Magnetic Maharashtra 2.0 unveiled by Chief Minister Uddhav Thackeray in 2020, the state has signed MoUs worth Rs 165,439 crore, making it 'truly magnetic' for the investors," Desai said.
