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JSW to invest Rs 35,500 cr in green energy projects
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SME Times News Bureau | 14 Sep, 2021
The Maharashtra government and power major JWS Energy Ltd on Tuesday
signed two MoUs to set up two green projects worth Rs 35,500 crore to
generate 6,500 MW clean energy in northern and western Maharashtra,
Industry Minister Subhash Desai said.
This would comprise a 1,500
MW hydro-based power project in Nashik and a 5,000 MW wind power
project spread across 1,870 hectares in Kolhapur, Solapur, Satara and
Osmanabad, to be set up within 18 months.
"The two new projects
will supply cheap and green renewable power round the clock, and help
Maharashtra reduce its dependence on non-renewable sources of energy,"
said Desai.
He assured the company of full cooperation in securing the requisite regulatory support.
JSW
Energy Ltd is the power arm of business conglomerate JSW Group, which
has 4,559 MW of operational thermal, hydro and solar energy capacity.
"We
are making rapid strides towards building a sustainable environment
with aspirations to reduce the grip of carbon footprint and curb global
warming by encouraging renewable energy as a sector, and attracting
multiple power houses to enhance the state's sustainable energy
capacity," Desai pointed out.
The investment inflow from JSW will
account for a considerable increase in renewable energy sources within
Maharashtra and provide employment to over 10,000 people, besides giving
a fillip to the social-economical-tourism development in these areas.
Besides
Desai, those present on the occasion included Joint Managing Director
and CEO of JSW Energy Ltd, Prashant Jain, MIDC CEO P. Anbalagan,
Additional Chief Secretary Baldev Singh, Development Commissioner
Harshdeep Kamble and other officials from both sides.
The
minister said that the state has consistently shown strong performance
across multiple investment parameters, both during and post the lockdown
periods.
"Under the Magnetic Maharashtra 2.0 unveiled by Chief
Minister Uddhav Thackeray in 2020, the state has signed MoUs worth Rs
165,439 crore, making it 'truly magnetic' for the investors," Desai
said.
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