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Maharashtra govt signs Rs 50,000 crore MoU in Davos for investments in renewable energy

The investment by Gurgaon-based Renew Power Private Limited is set to be made over the next seven years and would provide employment to 30,000 people, said Energy Minister Nitin Raut.

By: Express News Service | Mumbai |
May 25, 2022 12:56:42 pm
Under the agreement, Renew Power will supply 200 MW of power to the state through solar, wind, hybrid, battery storage, hydrogen and other options. (Twitter/Nitin Raut)

A memorandum of understanding (MoU) for investments worth Rs 50,000 crore in the renewable energy sector was signed between Maharashtra State Electricity Distribution Company Limited (MSEDCL) and Gurgaon-based Renew Power Private Limited at the World Economic Forum in Davos, Energy Minister Nitin Raut has announced on Twitter.

The investment, set to be made over the next seven years, would provide employment to 30,000 people, said the minister who is attending the WEF annual summit. The MoU was signed between CMD of MSEDCL Vijay Singhal and his counterpart of Renew Power Sumant Sinha in the presence of Raut and Environment Minister Aditya Thackeray.

“This agreement is a great achievement for the state of Maharashtra and MSEDCL. We are happy that we have been successful in attracting thousands of crores of investment in the state,” said Raut.

Under the agreement, Renew Power will supply 200 MW of power to the state through solar, wind, hybrid, battery storage, hydrogen and other options.

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The Maharashtra government would provide all the necessary permits, registration process, approvals for the project through a single-window system as per the rules and policies of the state government.

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