Essar Renewables to invest ₹8000 crore in Maharashtra – EQ
In Short : Essar Renewables is set to invest ₹8,000 crore in Maharashtra, focusing on expanding the state’s renewable energy capacity. This substantial investment will support the development of solar and wind energy projects, contributing to Maharashtra’s efforts to transition to cleaner energy sources. The initiative aligns with India’s broader renewable energy goals, aiming to enhance energy security and reduce carbon emissions while fostering economic growth in the region.
In Detail : The Essar group’s green energy arm, Essar Renewables has signed a memorandum of understanding (MoU) with the Government of Maharashtra at the World Economic Forum (WEF) in Davos, to invest around ₹8000 crore in renewable energy projects.
The plan is to develop 2 GW of renewable energy capacity for the state’s green mobility initiative.
Under the terms of the agreement, Essar Renewables will invest in a mix of round-the-clock renewable energy projects, primarily aimed at supporting the Electric Vehicle truck charging ecosystem of Blue Energy Motors and Greenline.
This investment is expected to generate direct employment for over 2,000 individuals, contributing to the state’s transition to green energy and economic growth.
The proposed projects are slated to commence in the fiscal year 2026-27.
Blue Energy Motors is a partner in Essar’s green mobility initiative and a pioneer in clean-energy trucks. It has also separately signed an agreement with the state government to invest Rs 3500 crore to set up a truck manufacturing plant with a capacity to produce 30,000 units.
“As we navigate the global energy transition, this partnership with the Government of Maharashtra is a critical step in reshaping the future of sustainable energy for green mobility. With our investment in renewable energy and green mobility solutions, we are driving the state’s growth while positioning India as a global leader in the green economy,” said Prashant Ruia, Director, Essar.
The partnership will go toward Essar Renewables’ goal of surpassing 8 GW of renewable energy capacity over the next five years.
