Essar Renewables has signed a significant agreement with the Maharashtra government to develop 2GW of renewable energy capacity, marking a substantial step towards India’s green energy transition. The Memorandum of Understanding (MoU), signed at the World Economic Forum (WEF) in Davos, outlines an investment of Rs 8,000 crore, with plans to support the state's green mobility initiatives.

The investment is likely to create over 2,000 direct jobs. The company will be working on renewable energy projects focused on powering the Electric Vehicle (EV) truck charging ecosystem of Blue Energy Motors and Greenline. Ankur Kumar, Essar Renewables' CEO, mentioned that this partnership marks a significant milestone in their journey of renewable energy, solidifying their place in the industry.

The company's proposed projects will cover round-the-clock renewable energy solutions, contributing to the nation's sustainable mobility goals. The first phase of the projects is expected to kick off in the fiscal year 2026-27. Prashant Ruia, Director at Essar, said this partnership will help reshape India's energy landscape and position the country as a global leader in the green economy.

The MoU aligns with Essar Renewables' more far-reaching intentions of exceeding 8GW in renewable energy capacity over the next five years. Capable in handling solar, wind, and battery storage systems, Essar Renewables pushes India toward a new clean energy frontier and helps spur economic growth in the state while aiding the sustainable push for energy solutions globally.