Maharashtra's Power Play: JV for 5,000 MW Renewables

The Maharashtra State Cabinet, under the leadership of Chief Minister Devendra Fadnavis, has approved the formation of a joint venture (JV) between the Maharashtra State Power Generation Company (MAHAGENCO) and Satluj Jal Vidyut Nigam (SJVN) to implement 5,000 MW of renewable energy projects across the state.

This decision follows a Memorandum of Understanding (MoU) signed on 14 June 2023, and marks a major step toward accelerating Maharashtra’s clean energy transition. The project portfolio will include a mix of:

Pumped storage hydro, Green hydrogen with solar-wind hybrid systems, Floating solar power projects, Under the JV structure, SJVN will hold 51% equity, and MAHAGENCO will hold 49%.

Phase-1 Developments (735 MW):

Ghatghar Phase-2 Pumped Storage Project – 125 MW, Irai Floating Solar Project – 105 MW, Nimnawardha Floating Solar Project – 505 MW

These initial projects aim to establish a robust foundation for large-scale renewable energy deployment in the state.

A senior official from Mantralaya noted, “The central government has set a goal of achieving net-zero carbon emissions by 2070. In alignment, the Maharashtra government has committed to generating 50% of its energy from renewable sources by 2030, and 75% by 2047.”

News by Rahul Yelligetti.