The Maharashtra government's Energy department on Tuesday signed a Memorandum of Understanding with Adani Green Energy Group Ltd (AGEL) to generate 11000 MW of green power in the next five years. It would entail an investment of Rs 60,000 crore and provide employment to 30,000 persons, a statement from the government said.
According to the agreement, AGEL will set up Pumped Storage Projects (PSP) in the next four to five years, through which about 11,000 MW of power will be generated, said a statement issued by the state energy department. The state will reap many benefits from PSPs which will generate or store electricity with the help of non-conventional energy sources, it said, adding that they will be especially useful for immediate power generation in case of shortage.
The MoU was signed by Narayan Karad, Deputy Secretary, Department of Energy, Maharashtra, and Ajit Barodia, Senior Vice President, Adani Industries Group. Secretary Nanasaheb Dhone and Associate Vice-President of AGEL Akshay Mathur were also present on the occasion. The MoU was signed with AGELin the presence of Energy Minister Dr. Nitin Raut and Principal Secretary for Energy, Dinesh Waghmare.