Essar Renewables Ltd (ERL), Essar’s green energy venture, has formalized its plans to expand renewable energy capacity in Maharashtra by signing a Memorandum of Understanding (MoU) with the state government during the World Economic Forum in Davos. The agreement outlines a significant investment of Rs 8,000 crore to develop 2 GW of renewable energy, with a focus on supporting green mobility through electric vehicle truck charging for Blue Energy Motors and Greenline.
The planned projects aim to generate round-the-clock renewable energy, a critical component in accelerating Maharashtra's transition to clean energy while fostering economic development. With operations set to commence in the fiscal year 2026-27, the initiative is expected to create over 2,000 direct jobs, boosting employment opportunities in the state.
Ankur Kumar, CEO of Essar Renewables, shared his enthusiasm about the collaboration, describing it as a major step forward in the company’s renewable energy journey. He emphasized the partnership with the Government of Maharashtra as a transformative opportunity to strengthen their position in the sector.
Prashant Ruia, Director at Essar, emphasized the broader impact of the initiative, stating that the partnership is a critical step in reshaping the future of sustainable energy for green mobility. He added that it positions Maharashtra and India as global leaders in the green economy.
This initiative aligns with Essar Renewables’ vision of achieving 8 GW of renewable energy capacity within five years.
