Maharashtra plans to invest Rs 750 billion in renewable energy

Reportedly, an investment of Rs 750 billion is expected in the field of green hydrogen, green ammonia, solar and wind energy in the state of Maharashtra, to prioritise achieving net-zero targets.

The state also plans to raise Rs 50 billion by 2024 through green bonds. The budget estimate for state’s new and renewable energy is Rs 9.77 billion for 2023-24, an increase over last year’s revised budget estimate of Rs 4.96 billion. Notably, memoranda of understanding (MoUs) worth Rs 300 billion have been signed in solar, hydro and wind energy sectors. Further, solar power projects are set to implemented in 20,000 gram panchayats in the state.