Essar Renewables, Essar’s green energy arm, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra at the World Economic Forum (WEF) in Davos.
The agreement facilitates Essar Renewables’ investment in the state, aiming to develop 2 GW of renewable energy capacity to support its green mobility initiative. Essar plans to invest approximately ₹8,000 crore in renewable energy projects, mainly for the Electric Vehicle truck charging ecosystem of Blue Energy Motors and Greenline.
This investment will create over 2,000 jobs, contributing to Maharashtra’s transition to green energy and economic growth. The projects are expected to begin in fiscal year 2026-27.
Ankur Kumar, CEO of Essar Renewables, expressed excitement about the partnership, marking it as a key milestone in their renewable energy journey.
Prashant Ruia, Director of Essar, emphasized that this collaboration is pivotal for advancing sustainable energy for green mobility and driving India’s position in the global green economy.
Essar Renewables aims to exceed 8 GW of renewable energy capacity in the next five years.