Synopsis
Essar Renewables Ltd has signed a significant MoU with the Maharashtra government to invest in 2GW of renewable energy, focusing on green mobility. The investment of Rs 8,000 crore aims to boost the Electric Vehicle infrastructure, creating over 2,000 jobs while enhancing India's position in the green economy.Key Takeaways
- Essar Renewables has signed an MoU with Maharashtra.
- Investment of Rs 8,000 crore planned for 2GW renewable energy.
- Focus on Electric Vehicle charging infrastructure.
- Over 2,000 jobs expected to be created.
- Projects set to begin in fiscal year 2026-27.
Mumbai, Jan 22 (NationPress) Essar Renewables Ltd (ERL), the green energy initiative by Essar, has formalized a Memorandum of Understanding (MoU) with the Government of Maharashtra during the World Economic Forum (WEF) in Davos.
This MoU sets the groundwork for Essar Renewables’ intended investment in the state, with ambitions to create 2 GW of renewable energy capacity aimed at its green mobility initiative.
As part of the agreement, Essar Renewables plans to inject around Rs 8,000 crore into a combination of round-the-clock renewable energy projects, which will primarily enhance the Electric Vehicle truck charging infrastructure for Blue Energy Motors and Greenline.
This investment is anticipated to generate direct employment opportunities for more than 2,000 individuals, aiding the state's shift towards green energy and stimulating economic growth.
The proposed projects are expected to launch in the fiscal year 2026-27.
On this partnership, Ankur Kumar, CEO of Essar Renewables, remarked, “We are thrilled to begin this transformative journey alongside the Government of Maharashtra. This collaboration marks a significant milestone in our renewable energy initiatives and positions us as a formidable force in the industry.”
Prashant Ruia, Director of Essar, emphasized, “As we navigate the global energy transition, this alliance with the Government of Maharashtra is pivotal in redefining the future of sustainable energy for green mobility. Through our commitment to renewable energy and green mobility solutions, we are fostering the state’s development while establishing India as a global frontrunner in the green economy.”
This partnership aligns with Essar Renewables' ambitious objective of exceeding 8 GW of renewable energy capacity over the next five years.
Essar Renewables has been leading India's green energy transition, specializing in solar, wind, and battery energy storage systems. The company prioritizes innovation and strategic collaborations to establish itself as a key player in the renewable energy landscape.
