Govt, JSW ink MoU for `35K cr investment
The Maha Vikas Aghadi government on Tuesday received a major boost in its ongoing plan to increase the renewable energy capacity in the state. The JSW Group has signed a Memorandum of Understanding (MoU) with the state government for an investment of Rs 35,500 crore in the renewable energy segment.
The JSW Energy Ltd, the power business arm of JSW Group with 4559 MW of operational thermal, hydro and solar power capacity, has firmed up a plan to set up 1,500 mw hydro-based power project in Nashik district and 5,000 mw wind power projects spread across 1870 hectares at Kolhapur, Solapur, Satara and Osmanabad districts.
The company expects to commence the generation in 18 months.According to the state industries department, the hydropower project will cover Jammde, Kalbhonde, Kothale villages near Igatpuri in Nashik district."The Government of Maharashtra is undertaking rapid strides towards building a sustainable environment with aspirations to reduce the grip of carbon footprint and curb global warming, our State promotes renewable energy as a sector, attracting multiple powerhouses to enhance the State’s sustainable energy capacity. This huge investment inflow in the State will account for a considerable increase in renewable energy sources within the State. While generating employment for over 10000 people, these projects will also bring socio-economic development of the area by promoting eco-tourism, skill development and service sector,’’ Industries Minister Subhash Desai noted.Desai said that Maharashtra has emerged as a forerunner for business continuity plans with its ready-built industrial infrastructure, sector-specific build-to-suit offerings and highest FDI inflows.