Essar Renewables Ltd (ERL), a green energy initiative by Essar Group, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra. This agreement was finalized at the World Economic Forum (WEF) in Davos. The partnership will support the development of 2 GW of renewable energy projects, contributing to Essar’s green mobility goals.
Massive Investment in Renewable Energy
Essar Renewables plans to invest approximately Rs 8,000 crore in these projects. The focus will be on round-the-clock renewable energy solutions, including solar, wind, and battery storage systems. These projects are designed to support the Electric Vehicle (EV) truck charging ecosystem, particularly for Blue Energy Motors and Greenline.
The investment is expected to create over 2,000 direct jobs, contributing to Maharashtra’s economic growth and its transition to sustainable energy. The renewable energy projects are scheduled to begin in the fiscal year 2026-27, marking a significant step toward India’s green energy goals.
Leadership Comments on the Partnership
Ankur Kumar, CEO of Essar Renewables, expressed excitement about the collaboration, stating, “This partnership with the Government of Maharashtra is a milestone in our renewable energy journey. It will position us as a key player in the sector.”
Prashant Ruia, Director of Essar, added, “This collaboration reflects our commitment to the global energy transition. By investing in green energy and mobility solutions, we aim to support Maharashtra’s growth and position India as a leader in the green economy.”
Goals for Renewable Energy Expansion
Essar Renewables is targeting over 8 GW of renewable energy capacity within the next five years. The company specializes in innovative solutions, including solar, wind, and energy storage systems, and aims to lead India’s green energy transition through strategic partnerships and investments.
The partnership between Essar Renewables and Maharashtra aligns with India’s broader goals of reducing carbon emissions and promoting sustainable development. By focusing on green mobility and renewable energy, Essar Renewables is playing a vital role in shaping a cleaner and more sustainable future for the country.
