Essar Renewables signs MoU with Maharashtra govt to develop 2GW of renewable energy

Essar Renewables Ltd (ERL), Essar's task into the greenish vigor sector, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra astatine the World Economic Forum (WEF) successful Davos.

The MoU paves the mode for Essar Renewables' projected concern successful the state, with plans to make 2 GW of renewable vigor capableness for its greenish mobility initiative.

Under the presumption of the agreement, Essar Renewables volition put astir Rs 8,000 crore successful a premix of round-the-clock renewable vigor projects, chiefly aimed astatine supporting the Electric Vehicle motortruck charging ecosystem of Blue Energy Motors and Greenline.

This concern is expected to make nonstop employment for implicit 2,000 individuals, contributing to the state's modulation to greenish vigor and economical growth.

The projected projects are slated to commence successful the fiscal twelvemonth 2026-27.

Commenting connected the partnership, Ankur Kumar, CEO, Essar Renewables said, “We are excited to embark connected this transformative travel with the Government of Maharashtra. This collaboration represents a important milestone successful our renewable vigor projects and besides found america a formidable subordinate successful the sector.”

Prashant Ruia, Director, Essar, added, “As we navigate the planetary vigor transition, this concern with the Government of Maharashtra is simply a captious measurement successful reshaping the aboriginal of sustainable vigor for greenish mobility. With our concern successful renewable vigor and greenish mobility solutions, we are driving the state's maturation portion positioning India arsenic a planetary person successful the greenish economy.”

The concern aligns with Essar Renewables' ambitious extremity of surpassing 8 GW of renewable vigor capableness implicit the adjacent 5 years.

Essar Renewables has been astatine the forefront of India's greenish vigor transition, specialising successful solar, wind, and artillery vigor retention systems. The institution focuses connected innovation and strategical partnerships to presumption itself arsenic a starring subordinate successful the renewable vigor sector.