New Delhi: Essar Renewables Ltd (ERL) has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra at the World Economic Forum (WEF) in Davos to invest ₹8,000 crore in developing 2 GW of renewable energy capacity.
The projects will focus on round-the-clock renewable energy solutions, primarily supporting the Electric Vehicle truck charging ecosystem of Blue Energy Motors and Greenline.
The initiative is expected to commence in FY 2026-27 and create direct employment for over 2,000 individuals.“We are excited to embark on this transformative journey with the Government of Maharashtra.
This collaboration represents a crucial milestone in our renewable energy projects and also establishes us as a formidable player in the sector,” said Ankur Kumar, CEO, Essar Renewables.
“As we navigate the global energy transition, this partnership with the Government of Maharashtra is a critical step in reshaping the future of sustainable energy for green mobility,” said Prashant Ruia, Director, Essar.
The partnership aligns with Essar Renewables’ goal of surpassing 8 GW of renewable energy capacity over the next five years.
