Maharashtra Gets Rs 1.29 lakh crore Boost for RE

Maharashtra has secured a substantial boost for its renewable energy sector. The state government has signed seven Memorandum of Understandings (MoUs) with various companies, involving an investment of Rs 1.29 lakh crore and creating over 37,000 jobs, including three under the pumped storage power scheme and four in the clean and green energy sector.

In the first instance, the state has signed four different MoUs with SJVN, MahaGenco Renewable Energy Ltd, RECPDCL, THDC and HPRGE-HPCL, collectively valued at Rs 47,500 crore for renewable energy generation.

The projects will be in line with the state government’s aim to achieve 50 percent renewable energy by 2030. The development of these projects will create 18,828 jobs, said Devendra Fadnavis, Deputy Chief Minister, and Energy and Irrigation Minister.

The projects:

In the first instance, RECPDCL – REC will collaborate with the state government to develop commercially viable renewable energy projects, including a 500 MW hybrid project with an initial investment of Rs 3,000 crore, generating 1,663 jobs.

The second project with THDCIL-THDC involves developing renewable energy projects in the state, with an investment of Rs 29,329 crore, generating 14,130 direct and 4,250 indirect jobs.

The MoU with HPRGE-HPCL Renewable and Green Energy Limited Company is to develop a 50 KTPA green hydrogen and its derivative plant at MahaGenco’s gas-based power project in Uran in Raigad district.

This will be developed through a joint venture company with an investment of Rs 12,000 crore. The project will create 1,635 direct and indirect jobs.

SJVN is partnering with MahaGenco to develop a floating solar plant on Lower Wardha Dam, with a 51:49 equity participation. The project, estimated to cost Rs 3,030 crore, will generate 1,400 jobs and utilize power transmission infrastructure.

DCM shares:

“MoUs were signed for power generation of 15,100 MW under a pumped storage scheme, with an investment of around ₹82,299 crore. This initiative will create employment for 18,440 people. Maharashtra has made significant progress through this scheme, and today’s MoU marks an important step toward a greener and cleaner energy future for the state,” Mr Fadnavis said.

“After these MoUs, Maharashtra will significantly enhance its generation capacity under pumped storage and it will reach 55,970 MW, with a total investment of around ₹3 lakh crore, creating approximately 90,000 employment opportunities. This will also position Maharashtra as a future leader in the PSP policy.”

“The signing of 4 MoUs with a staggering investment of around ₹47,000 crore, will generate approximately 19,000 employment opportunities. Sectors such as ARI, green hydrogen, and green ammonia will enhance green energy initiatives and help Maharashtra progress towards its goal of using 50 percent clean energy by 2030. Green energy generation is essential today, as it represents a step forward toward Hon PM Narendra Modi Ji’s dream of achieving net zero. Maharashtra has a strong track record with its MoUs, consistently maintaining a national average of 60 percent success rate. This marks an important move to transform MoUs into actionable outcomes. Our Govt will extend all required support.”

Will Maharashtra retain its dominance as an EV market leader?

When it comes to the nation’s highest concentration of EVs—including cars, two-wheelers, and buses—Maharashtra is in first place. The state has witnessed a record increase in the adoption of electric vehicles of roughly 130%.

According to data from the Maharashtra State Electricity Distribution Company (MSEDCL), there are 3,073 EV charging stations in the state overall, with the greatest number of them—1,894—found in the Pune district alone.

Here’s a breakdown of the state’s progress.

Favorable policy:

To become the leading EV producer by 2025, Maharashtra unveiled its EV Policy in 2021. The first 100,000 electric two-wheelers sold will be eligible for subsidies, which include a maximum incentive of ₹10,000 and an incentive of ₹5,000 per kWh of battery capacity.

Boosting charging infrastructure:

Tata Power has installed 19 fast charging points on the Mumbai-Pune highway and 26 on the Mumbai-Goa (via Pune) highway.

They intend to gradually install an additional 4000 charging stations throughout Maharashtra. The goal is to expand the reach of EV charging infrastructure and ensure that these facilities are powered by 100% renewable energy sources.

This expansion will significantly address range anxiety, a major concern for potential EV buyers.

Leading the charge in public transport:

The Maharashtra State Road Transport Corporation (MSRTC) is actively transitioning its fleet to electric.

Presently, 137 of the approximately 14500 buses that MSRTC currently operates every day throughout the state are electric. The entity has decided to add 5,150 more electric buses over the next two years as part of this ambitious plan. This is in sync with Maharashtra’s ambitious target of achieving a fully electric public transport system by 2030.

The way forward:

Many states including Uttar Pradesh, Karnataka, Kerala, Gujarat, and Goa are inching closer to achieving their EV targets–each state announcing an equally competitive strategy and incentives to support the industry. Maharashtra can retain the top spot as it has an added advantage–it houses one of the largest auto hubs in the country. This is the best chance for the state government to engage with the entire value chain and steer the industry in the right direction.

Sun Pharma and Watershed Organization Trust or WOTR have partnered to create over 5.2 billion litres of water harvesting capacity in the Beed and Ahmednagar districts of Maharashtra.

The water harvesting project spans nearly 30,000 hectares across 22 villages, impacting 36,884 people or roughly 7,823 families.

The project aims to conserve water, promote climate-resilient agriculture, enhance government schemes, and develop livestock. The focus will also be on effective water supply, demand management, and behavioral aspects. Through the three-year program, the partners aim to address the challenges of water security and climate change in the two districts.

Through CSR and sustainability initiatives, Sun Pharma addresses rural communities’ critical needs, demonstrating its commitment to community service and sustainability through partnerships with WOTR.

WOTR is committed to ecosystem restoration through Ecosystem-based Adaptation (EbA), focusing on local ecosystem health for sustainable development and environmental sustainability.

Prakash Keskar, Executive Director, WOTR, stated, “This collaboration underscores WOTR’s unwavering commitment to strengthening rural communities against the unpredictable variations of climate change. Our partnership with Sun Pharma is a significant step towards empowering these communities to manage their water resources better, ensuring the security of their livelihoods and enhancing their resilience to climate volatility.”

Globally, many countries recorded August 2023 as one of the hottest months. While some nations reported August to be the hottest in a century, some others noted it to be warmer in some decades.

Even in India, we recorded higher-than-normal temperatures. Many states and regions recorded explicit climate change. The high-terrain states like Uttarakhand and Himachal Pradesh were reeling under cloud bursts, heavy rains, landslides… The devastation continues. On the other hand, states like Kerala or Maharashtra, which should have been receiving monsoon showers, recorded very few monsoon showers. To the extent that Kerala was forced to sign more PPAs (the state meets 90% of its supply from hydro) for supply from other states.

In this context, India’s presidency at the G20 was keenly watched event. Climate action topped the agenda. Held in New Delhi on 9-10 September 2023, with ‘Vasudhaiva Kutumbakam’ (One Earth, One Family and One Future) as a theme, the leaders discussed steps to accelerate action to tackle climate change. The cooperation of G20 members plays a critical role in shaping the way forward.

It is an open fact now — the cascading effects have reversed the progress made in the 2030 Agenda and its Sustainable Development Goals (SDGs). No doubt, the global greenhouse gas (GHG) emissions continue to increase, adversely affecting lives and livelihoods. As per reports by the UN, globally, challenges like poverty and inequality, climate change, pandemics and conflicts disproportionately affect women, children and the most vulnerable.

In the document released after the G20 meeting, the G20 Leaders agreed to take concrete action through partnerships.

They committed to 12 major points, of which I list the primary 5.

Accelerate the full and effective implementation of the 2030 Agenda for Sustainable Development.
Pursue low-GHG/low-carbon emissions, climate-resilient and environmentally sustainable development. We will urgently promote Lifestyles for Sustainable Development (LiFE) and conserve biodiversity, forests and oceans.
Scale up financing from all sources to accelerate progress on SDGs.
Accelerate efforts and enhance resources towards achieving the Paris Agreement, including its temperature goal.
Close gender gaps and promote women’s full, equal, effective and meaningful participation in the economy as decision-makers.

I want to draw your attention to the officially released document. It elaborately touches upon the criticality of the energy transition, circularity, climate financing, the need to battle plastic pollution, the adoption of technology and gender equality. The document highlighted the role of private entities and corporations in climate action.

The document paves the way for concrete action. It lays down principles and opens avenues for partnerships. This means the time for action is NOW. Start ACTING. I would love these concluded points to turn into actions immediately. In my opinion, we have crossed the tipping point…. We are on the slide; the disaster can swallow us in a fraction of a second.

The pledge is taken. Promises made. Act NOW

Tag: maharashtra

News

Maharashtra Gets Rs 1.29 lakh crore Boost for RE
WriteCanvas News

The projects:

DCM shares:

Blog

How can Maharashtra retain dominance in the EV market?
Renjini Liza Varghese

Here’s a breakdown of the state’s progress.

The way forward:

Water harvesting, CSR

Sun Pharma, WOTR Partner for Water Harvesting in Maharashtra
WriteCanvas News

Blog

Act NOW
Renjini Liza Varghese

News

Maharashtra Gets Rs 1.29 lakh crore Boost for RE WriteCanvas News

The projects:

DCM shares:

Blog

How can Maharashtra retain dominance in the EV market? Renjini Liza Varghese

Here’s a breakdown of the state’s progress.

The way forward:

Water harvesting, CSR

Sun Pharma, WOTR Partner for Water Harvesting in Maharashtra WriteCanvas News

Blog

Act NOW Renjini Liza Varghese

Maharashtra Gets Rs 1.29 lakh crore Boost for RE
WriteCanvas News

How can Maharashtra retain dominance in the EV market?
Renjini Liza Varghese

Sun Pharma, WOTR Partner for Water Harvesting in Maharashtra
WriteCanvas News

Act NOW
Renjini Liza Varghese