The Maharashtra cabinet has approved the formation of a joint venture (JV) between Maharashtra State Power Generation Company Limited (Mahagenco) and SJVN Limited for the development of 5,000 MW of renewable energy projects.
Under the agreement, SJVN Limited will hold 51 per cent equity while Mahagenco will hold 49 per cent. The JV will undertake projects across pumped storage hydro, solar-wind hybrid, floating solar and green hydrogen-linked technologies. In the first phase, the JV will develop 735 MW of capacity, including the Ghatghar Phase-2 lift hydro project (125 MW), Irai floating solar project (105 MW) and the Nimnawardha floating solar project (505 MW).