In an attempt to escalate the state’s climate action target and to increase the renewable energy capacity Maharashtra’s energy department signed an MoU worth Rs 50,000 crore with India’s Renewable energy giant ReNew power.

The signing took place at the World Economic Forum at Davos in the presence of Maharashtra Tourism and Environment minister Aaditya Thackeray. The project aims to invest in the renewable energy domain to generate energy through solar and wind for the coming 6-7 years in the state. The Maharashtra State Electricity Department Commission Limited  (MSEDCL) Managing Director Vijay Singhal hailed the project and claimed it as “pathbreaking for Maharashtra’s Renewable energy sector”.

An MSEDCL official further highlighted that the project will create more than 30,000 job opportunities and also invest in the projects focusing on hybrid and green hydrogen energy.