The Maharashtra government and power major JSW Energy Limited has signed two MoUs to set up two green projects worth Rs 355 billion to generate 6,500 MW of clean energy in northern and western Maharashtra. These projects 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.
JSW Energy Limited is the energy arm of the JSW Group, which has a total capacity of 4,559 MW in thermal, hydro, and solar energy. JSW’s investment will result in a significant increase in renewable energy sources in Maharashtra, as well as providing jobs for over 10,000 people and boosting the social, economic, and tourism development in these areas.
In May 2021, JSW Renew Energy, a subsidiary of JSW Energy, signed a power purchase agreement (PPA) with the Solar Energy Corporation of India for 540 MW of blended wind power capacity. The blended wind power projects included those projects where wind power is blended with solar power and the wind power component makes up at least 80 per cent of the capacity. In September 2020, JSW Future Energy had received the letter of award for a total blended wind capacity of 810 MW from SECI. In the same month, JSW Hydro Energy raised $707 million through green bonds.