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Maharashtra state, ReNew Power ink MoU for RE projects worth 50K crore at WEF, Davos

Image Courtesy: Maharashtra State Electricity Distribution Co. Ltd/Twitter

The Maharashtra energy department has announced that it has signed an MoU of Rs. 50,000 crore with ReNew power at Davos for investments in renewable energy in the state for the next six to seven years.

It was signed in the presence of Maharashtra tourism and environment minister Aaditya Thackeray in Davos, where he is attending the World Economic Forum (WEF) along with state industries minister Subhash Desai and energy minister Nitin Raut. MSEDCL managing director Vijay Singhal, who signed the MoU, told TOI that this was one of the biggest investments for the state in the energy sector.

He further said that the MoU has been signed for renewable energy generation in the state through solar and wind. MSEDCL also tweeted: "Big Update from #Davos #WorldEconomicForum - Our CMD Vijay Singhal, IAS signed an MoU of Rs. 50000 cr with Mr. Sumant Sinha, CMD, Renew Power in the presence of Hon'ble cabinet Minister @NitinRaut_INC & @AUThackeray. This is pathbreaking for Maharashtra's Renewable Energy Sector."

A MSEDCL official said, "This will create 30,000 employments. The investment will also be done in renewable energy projects like solar, wind, hybrid energy, green hydrogen plant." 

Author : Moulin Oza
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