Essar Renewables has signed an agreement with the Maharashtra government to invest Rs 8,000 crore in developing 2 gigawatts (GW) of renewable energy capacity. The project, expected to create over 2,000 direct jobs, will focus on powering Essar’s green mobility initiatives, particularly supporting the electric vehicle (EV) truck charging infrastructure for Blue Energy Motors and Greenline.
The Memorandum of Understanding (MoU) was formalized during the World Economic Forum (WEF) in Davos. The renewable energy projects will include solar, wind, and battery energy storage systems, ensuring round-the-clock power supply. Operations are set to begin in the fiscal year 2026-27.
Ankur Kumar, CEO of Essar Renewables, called the partnership a significant milestone in the company’s renewable energy journey. He highlighted the company’s ambition to become a major player in the sector. Prashant Ruia, Director of Essar, emphasized the strategic importance of the initiative, stating that it supports India’s green energy transition and positions the country as a global leader in sustainable economic growth.
This project is part of Essar Renewables’ broader goal to achieve over 8 GW of renewable energy capacity within the next five years. By utilizing advanced technology and innovative energy solutions, the company aims to strengthen its leadership in India’s renewable energy sector, particularly in solar, wind, and battery storage systems.
Essar Renewables’ investment underscores its commitment to driving green mobility and clean energy infrastructure, further solidifying its role in building a sustainable future for India and the global community.
