Due to MoU for Power Generation, the Economy Will Accelerate and Over 62,000 Jobs Will Be Created – Deputy Chief Minister Devendra Fadnavis

Mumbai, September 3: A Memorandum of Understanding (MoU) was signed today between the Government of Maharashtra and several major energy companies—including NTPC, Welspun New Energy, NHPC, Renew Hydro Power, THDC India, Torrent Power, and Adani Green Energy—at the Sahyadri Guest House. The MoU concerns a Pumped Storage Project for hydro power generation, with a total electricity generation capacity of 35,240 MW contracted. Deputy Chief Minister Devendra Fadnavis announced that this agreement will lead to an investment of ₹1,88,750 crores and create 62,550 jobs in the state.

Deputy Chief Minister Fadnavis highlighted that the state’s total installed capacity is 46,000 MW, with 40,870 MW now committed to pumped storage, marking a significant advancement in green energy for the state. He also noted the state’s past significant initiatives in solar energy production.

By 2030, 50 percent of the state’s electricity generation is expected to come from natural resources, ensuring sustainable energy production. The Western Ghats, known for their special biodiversity, will benefit from this energy, which will support cold storage facilities in various locations. Fadnavis praised the collaborative efforts of the government and private sector in finalizing this agreement.

Additional Chief Secretary Deepak Kapoor provided further details about the agreement with the seven companies. Investments and job creation under each company are as follows:

• NTPC: ₹9,078 crores investment, 1,400 jobs, and 1,800 MW of electricity.
• Welspun New Energy: ₹5,000 crores investment, 1,500 jobs, and 1,200 MW of electricity.
• NHPC Limited: ₹44,100 crores investment, 7,350 jobs, and 7,350 MW of electricity.
• Renew Hydro Power Limited: ₹13,100 crores investment, 5,000 jobs, and 2,600 MW of electricity.
• THDC India: ₹33,622 crores investment, 6,300 jobs, and 6,790 MW of electricity.
• Torrent Power Limited: ₹28,000 crores investment, 13,500 jobs, and 5,600 MW of electricity.
• Adani Green Energy Limited: ₹54,450 crores investment, 30,000 jobs, and 9,900 MW of electricity.

On this occasion, Additional Chief Secretary of Home Department Iqbal Singh Chahal, Additional Chief Secretary of Water Resources Deepak Kapoor, Secretary of Water Resources Dr. Sanjay Belsare, Deputy Chief Minister’s Secretary Shrikar Pardeshi, along with officials and representatives of the private companies, were present.

Deputy Chief Minister Devendra Fadnavis congratulated the government officials and private company representatives on this achievement.