Last Updated: April 07, 2022
Maharashtra State Power Generation Company (MAHAGENCO) will form an equal joint venture with state-run NTPC Ltd to set up an ultra mega solar park in Maharashtra with 2500 MW generation capacity, the state said today.
The proposal to form a joint venture company was approved in the cabinet meeting held today, chaired by Chief Minister Uddhav Thackeray.
“National Thermal Power Corporation Limited (or its subsidiary / subsidiary) and Maharashtra State Power Generation Company (Mahanirmiti) will have a capital investment of 50:50, respectively, for the development of Ultramega Renewable Solar Park with a capacity of 2500 MW in the State,” Chief Minister’s Office said in a statement.
For the venture the State Energy Department has been declared the nodal agency and has been entrusted with the responsibility of complying with the provisions of the unconventional energy policy of the state government.
A lump sum fee from the project holder in the solar energy park and annual operation and maintenance fee etc has been made permissible as per the guidelines of the Central Government.
For non-conventional energy, 17,360 MW capacity generation project will be developed by March 21, 2025, of which 12,930 MW capacity solar power project is targeted to be started. “At present 9305 MW capacity projects are in operation in the state and 2123 MW capacity solar power projects are in operation,” the statement added.