The Maharashtra energy department had signed a Memorandum of Understanding (MoU) worth Rs 50,000 crore with ReNew Power, India’s leading renewable energy company, at Davos for investments in the renewable energy sector across the state for the next 6-7 years.

It was signed in the presence of the Minister of Maharashtra Tourism and Environment, Aaditya Thackeray, in Davos, attending the World Economic Forum (WEF), along with State Minister of Industries Subhash Desai and lastly, State Minister of Energy Nitin Raut.

Managing Director of Maharashtra State Electricity Distribution Company Limited (MSEDCL), Vijay Singhal, who signed the MoU, told the media that it was one of the biggest investments for Maharashtra in the renewable energy sector.

He added that the MoU had been signed for renewable energy generation in the state through solar and wind power sources.

An official said that this project would create 30,000 employment opportunities. The investment will further be carried in renewable energy projects like solar, wind, hybrid energy and green hydrogen plant.

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