The Maharashtra government's energy department on Tuesday signed a Memorandum of Understanding with Adani Green Energy Group Ltd. to generate 11,000 MW green power in the next five years.
It would entail an investment of Rs 60,000 crore and provide employment to 30,000 persons, a statement from the government said.
According to the agreement, AGEL will set up Pumped Storage Projects in the next four to five years, through which about 11,000 MW power will be generated, said a statement issued by the state energy department.
The state will reap many benefits from PSPs which will generate or store electricity with the help of non-conventional energy sources, it said, adding that they will be especially useful for immediate power generation in case of shortage.
The MoU was signed by Narayan Karad, Deputy Secretary, Department of Energy, Maharashtra and Ajit Barodia, Senior Vice President, Adani Industries Group.
Under secretary Nanasaheb Dhone and Associate Vice-President of AGEL Akshay Mathur were also present on the occasion.
The MoU was signed with AGEL in the presence of Energy Minister Dr Nitin Raut and Principal Secretary for Energy, Dinesh Waghmare.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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