New Delhi: Essar Renewables said it has made an initial deal with the Maharashtra government to develop 2GW of renewable energy projects, involving an estimated budget of Rs 8,000 crore. According to PTI, a company statement revealed that this investment is likely to generate over 2,000 job vacancies, contributing to the state's transition to green energy and economic growth.
The statement revealed that Essar Renewables Ltd has signed a Memorandum of Understanding (MoU) with the Maharashtra government at the World Economic Forum (WEF) in Davos, paving the way for Essar Renewables’ proposed investment in the state. The company plans to develop 2 GW of renewable energy capacity for its green mobility initiative.
"This collaboration represents a crucial milestone in our renewable energy projects and also establishes us as a formidable player in the sector," Essar Renewables CEO Ankur Kumar said, as per the PTI report.
As per the agreement, Essar Renewables will be investing approximately Rs 8,000 crore in a mix of round-the-clock renewable energy projects, primarily aimed at supporting the Electric Vehicle truck charging ecosystem of Blue Energy Motors and Greenline.
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Proposed projects will commence in the fiscal year 2026-27. "As we navigate the global energy transition, this partnership with the Government of Maharashtra is a critical step in reshaping the future of sustainable energy for green mobility. With our investment in renewable energy and green mobility solutions, we are driving the state's growth while positioning India as a global leader in the green economy," Essar Director Prashant Ruia added.
Moreover, the partnership aligns with Essar Renewables' ambitious goal of surpassing renewable energy capacity of 8 GW over the next five years.
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