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MUMBAI NEWS : 50,000 Cr MoU for Renewable Energy sector to generate 30k employment

HIGHLIGHTS….

  • Energy Minister Dr Raut’s successful efforts at World Economic Forum
  •  Maharashtra to get 200 MW power
  • Major achievement for MVA government

Mumbai NEWS : In the ongoing World Economic Forum in Davos, the Minister for Energy Dr. Nitin Raut and Energy department has been successful in attracting investment of Rs 50,000 Cr in Renewable Energy sector. Along with creating 30,000 jobs, it would accelerate development of non-conventional energy sector in the state. This is being seen as one of the biggest investment and achievement in energy sector. 

Dr Raut has been working hard to attract more and more investments in the state’s energy sector since the last two and half years. As a part of this effort, he is currently attending the World Economic Forum in Davos where he is working hard to attract more investment in the energy sector.

There he discussed with the heads of several important companies. His efforts have met with great success and the Renew Power Private Limited Company has decided to invest Rs 50,000 crore in the non-conventional energy sector in the state. Hence on behalf of the Government of Maharashtra, a significant Memorandum of Understanding (MoU) has been signed between MSEDCL and Gurugram based Renew Power Pvt. Ltd. This investment will be done in next seven years i.e. during 2022 to 2028.

The MoU was signed between CMD of MSEDCL Vijay Singhal and Sumant Sinha, CMD, Renew Power in the presence of Energy Minister Dr Raut and Minister for Environment Aditya Thackeray.

“This agreement is a great achievement for the state of Maharashtra and MSEDCL. We are happy that we have been successful in attracting thousands of crores of investment in the state. This MOU will also generate 30,000 job opportunities in the state,” said Dr Raut after signing the MoU.

A power purchase agreement of 200 MW for the period of 25 years has been also signed between MSEDCL and M/s. Renew Power Pvt. Ltd.

Under the agreement, Renew Power Limited will supply 200 MW of power to the state through solar, wind, hybrid, battery storage, hydrogen and other options.

The State of Maharashtra will provide all the necessary permits, registration process, approvals, etc. for the project from the concerned Energy Department to Messrs. Renew Power Pvt. Ltd. through single window system as per the rules and policies of the State Government.

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