Reportedly, the Maharashtra government has signed several memorandum of understanding (MoUs) with SJVN Limited, Maharashtra Generation Company Limited (MahaGenco), REC Power Development and Consultancy Limited (RECPDCL), THDC India Limited (THDCIL), and HPCL Renewable and Green Energy (HPRGE), a subsidiary of Hindustan Petroleum Corporation (HPCL), (HPRGE-HPCL) for renewable energy generation for a total of Rs 475 billion.
RECPDCL will collaborate on project development and engineering for renewable energy projects, with a hybrid project of 500 MW with an investment of Rs 30 billion. The MoU with THDCIL plans to develop renewable energy projects with a generation capacity of 4,250 MW in the state, involving an investment of Rs 293.29 billion. The agreement with HPRGE-HPCL aims to establish a green hydrogen and its derivative plant with a capacity of 50 kilotonnes per annum at MahaGenco’s gas-based power project in Uran, Raigad district, through a joint venture with an investment of Rs 120 billion. Additionally, SJVN is looking to develop a floating solar power plant on the Lower Wardha Dam in a joint venture with MahaGenco, with a 51:49 per cent equity participation. This project will be executed in two phases: Phase 1 will involving 100 MW and Phase 2 involving 405 MW with a total investment of Rs 30.3 billion.