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WEF 2022: ReNew Power announces Rs 50,000 cr investment in Maharashtra

WEF 2022: ReNew Power announces Rs 50,000 cr investment in Maharashtra

Maharashtra has also signed an MoU with Byju’s for introducing digital content in the remote areas of the state and municipal schools in Mumbai.

Image source: Twitter.com/AUThackeray Image source: Twitter.com/AUThackeray

At the World Economic Forum Annual Meeting 2022 in Davos, ReNew Power on Tuesday announced that it has signed a memorandum of Understanding (MoU) with the Maharashtra government to invest Rs 50,000 crore ($6 billion) in the state with a power generating capacity of up to 12,000 Megawatts. Sumant Sinha, Chairman and Managing Director of ReNew Power, signed the pact with the Government of Maharashtra.

Moreover, the state, under the Magnetic Maharashtra 2.0 program, also witnessed several investments from Singapore, Indonesia, the USA, and Japan. These also included investment in diverse sectors such as pharmaceuticals and medical devices, IT, data centres, textiles, food processing, packaging, paper and pulp, steel, etc.

In addition to these, Maharashtra has also signed an MoU with Byju’s for introducing digital content in the remote areas of the state and municipal schools in Mumbai. This MoU aims to assist lakhs of students in Maharashtra’s state-run schools, according to an official statement.

Iqbal Chahal, IAS, Commissioner, BMC and Shri Ranjit Deol, IAS, Secretary, School Education joined the event in an online mode, while BYJU’s founders Byju and Divya Raveendran were present at the WEF's Maharashtra lounge at Davos.

The state has also inked a strategic co-operation agreement with World Green Building Council for knowledge sharing. This co-operation would help the state in achieving its net zero-emission targets and for the capacity building of state authorities in Environmental Sustainability Governance.

The Magnetic Maharashtra 2.0 program was conceptualised under Chief Minister Uddhav Thackeray for strengthening the resilience of the state’s economy.

As of now, a total of 10 editions of these programs have been organised, with 122 MoUs bringing investment worth Rs 2.7 lakh crore ($35 billion) in the state with a potential to generate around 4 lakh new jobs.

Aaditya Thackeray, State Minister of Environment & Climate Change; Subhash Desai, Minister of Industries; Dr Nitin Raut, Minister of Energy and many more dignitaries were present during the ceremony along with industry representatives from the signing companies.

Published on: May 24, 2022, 10:29 PM IST
Posted by: Vivek Dubey, May 24, 2022, 9:59 PM IST