Essar Renewables Ltd (ERL), Essar’s green energy arm, has entered into a Memorandum of Understanding (MoU) with the Government of Maharashtra.
The MoU outlines the development of two GW of renewable energy capacity to support the company’s green mobility goals.
Investment in Renewable Energy Projects
As part of the agreement, Essar Renewables will invest approximately ₹8,000 crore in a diverse range of round-the-clock renewable energy projects.
The initiatives will primarily focus on fuelling the electric vehicle truck charging ecosystem, which is central to Essar’s green mobility venture, including its subsidiaries, Blue Energy Motors and Greenline. The investment will also have a positive impact on employment in the region.
Project Timeline
Essar Renewables plans to begin work on the proposed projects in the fiscal year 2026-27. This timeline aligns with the company’s broader strategy to rapidly expand its renewable energy footprint.
Ambitious Growth Plans for Renewable Energy Capacity
In addition to this MoU, Essar Renewables is set to develop a combination of solar, wind, and battery energy storage projects.
As reported by pv-magazine-india.com, ERL aims to exceed 8 GW of renewable capacity within the next five years, marking a significant leap towards a sustainable energy future.
