Maha Govt, JSW Sign MoU for Green Projects Worth ₹35,500 Cr

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The Maharashtra government and power major JSW Energy Ltd have signed two MoUs to set up two green projects worth Rs 35,500 crore.

The agreement is part of the slew of initiatives under the state government’s Magnetic Maharashtra 2.0 initiative, started last year, to focus on stimulating investment and growth.

“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 Industry Minister Subhash Desai.

The projects are slated to kick off in 18 months and are expected to generate 6,500 MW clean energy in northern and western Maharashtra.

“The aim is to rapidly move toward a more sustainable environment by reducing carbon footprint and tackling global warming,” Desai added.

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The investment inflow from JSW will account for a considerable increase in renewable energy sources within Maharashtra. The projects promise to be an employment generator for around 10,000 people and “bring socio-economic development of the area by promoting eco-tourism, skill development and service sector,” the statement noted.

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In August this year, JSW announced that its wholly-owned subsidiary, JSW Future Energy Ltd., had partnered with Australian firm Fortescue Future Industries (FFI) to explore opportunities to develop green hydrogen projects in India.

“Green hydrogen is going to be the disruptor in the clean energy space and in the near future we believe it will replace the fossil fuels used for various industrial applications as well as in the transportation and mobility sector,” JSW Energy Joint Managing Director and CEO Prashant Jain had stated then.

Interestingly, JSW Future Energy had received Letter of Awards in May for total blended wind capacity of 810 MW from Solar Energy Corporation of India Limited (SECI) in respect of the tariff-based competitive bid invited by SECI for setting up of 2500 MW ISTS-connected blended wind power projects (Tranche – IX).