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Renew Power, one of the largest renewable energy independent power producers and the Maharashtra Government signed a Memorandum of Understanding (MoU) on Tuesday.
The MoU will allow Renew Power to invest Rs. 50,000 crores in renewable energy projects (solar/wind/hybrid), & green hydrogen over the next eight year period in Maharashtra.
In presence of Subhash Desai, the Industry Minister; Nitin Raut, Energy Minister and Maharashtra Tourism and Environment Minister, Aaditya Thckeray; Vijay Singhal, Managing Director MSEDCL has signed the MoU. The MoU was signed in Devos.
Vijay Singhal stated that the deal was one of the largest investments for the state in energy sector. It was also a landmark deal for Maharashtra’s Renewable Energy Sector. He said that the investment would also boost the economy and create more than 30,000 jobs in the state.
Renew Power also signed a MoU with the Karnataka government. The MoU aims to invest Rs. 50,000 crore over the next seven-years.