Maharashtra's new Renewable Energy policy to attract Rs 75,000 crore investments: Minister of Power and New & Renewable Energy, Govt of Maharashtra

Jan 28, 2021

NEW DELHI, 28 January 2021: Dr Nitin Raut, Minister for Power and New & Renewable Energy, Govt of Maharashtra today while highlighting on the Maharashtra's New Renewable Energy Policy said that the policy aims to promote public and private sector participation and will attract an investment of Rs 75000 crores in power and allied sectors.

 

Addressing an interactive session with the CEOs of Renewable Energy and Power Companies organized by FICCI, Mr Raut said that the policy aims to implement 17000 MW of renewable power projects in next 5 years thereby creating direct and indirect employment for 1 lac people along with giving priority to hybrid power projects.

 

"In line with the Paris Agreement, the Government of Maharashtra is committed to achieving 40% electricity generation from renewable energy sources by 2030," Dr Raut added.

 

Mr Asim Gupta, Principal Secretary (Energy), Government of Maharashtra addressed on the various concerns of the industry relating to payment security, transmission, hybrid policy, open access, rooftop solar, tenders for greenfield RE projects, phasing out old inefficient plants etc. He said that the government is open to suggestions and looks forward to collectively work with the industry for the betterment of the sectors.

 

Mr Ranjit Gupta, Chair, FICCI Renewable Energy CEOs Council and CEO, Azure Power said that Maharashtra is a key state of interest for the renewable energy players and the state's new Renewable Energy Policy is a welcome move for the industry.

 

Maharashtra has been leading in terms of renewable energy (RE) deployment with push on electric mobility where RE deployment will have greater potential in future. The industrial and commercial segment with strong base in Maharashtra will have great potential for offtake of RE.

 

The roundtable was attended by some of the leading industry stakeholders from power and renewable energy sectors such as Azure Power, RP- Sanjiv Goenka Group, Adani Electricity Mumbai Limited, AMP Energy India, Amplus Energy Solutions, Avaada Energy, BSES Rajdhani Pvt Ltd, Enel Green Power, Jindal Power Limited, O2 Power, Power Exchange India Ltd., Rattan India, SB Energy, Sembcorp Green Infra Ltd, Senvion, Sindicatum, Sukhbir Agro Energy Ltd, Vikram Solar and Waaree.