Home India Maharashtra gets Rs 1.30 lakh cr investment in power sector
Maharashtra gets Rs 1.30 lakh cr investment in power sector

Maharashtra gets Rs 1.30 lakh cr investment in power sector

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Torrent Power, which is currently engaged in power distribution in the powerloom town Bhiwandi, is also keen to further invest in the distribution sector. Industry majors including Tata Power, Adani Power, Torrent Power, SoftBank Group, ReNew Power and Waaree Energies will invest a whopping Rs 1.30 lakh crore in generation (thermal, gas, solar and wind), transmission and distribution. The state undertakings — including MahaGenco, the Maharashtra State Electricity Distribution Company (MahaVitaran) and the Maharahstra State Transmission Company (MahaTransco) — will sign MoUs with Tata Power, Adani Power, Torrent Power, SoftBank Group, ReNew Power and Waaree Energies, on the occasion of Magnetic Maharashtra summit, starting February 18. They are collectively expected to add over 10,000 MW of power generation in the state. Besides, Waaree Energies plans to set up solar power project in the state.

Maharashtra, with an installed generation capacity of 13,602 MW, is set to become power surplus. Industry majors including Tata Power, Adani Power, Torrent Power, SoftBank Group, ReNew Power and Waaree Energies will invest a whopping Rs 1.30 lakh crore in generation (thermal, gas, solar and wind), transmission and distribution. They are collectively expected to add over 10,000 MW of power generation in the state.

Besides, the state-run Maharashtra State Power Generation Company (Mahagenco), in joint venture with oil companies such as Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), will develop a 2,000 MW petcoke-based power generation project at the proposed refinery in Rajapur taluka, Ratnagiri district of Maharashtra. The power generated from the proposed project will be used for captive use.

The state undertakings — including MahaGenco, the Maharashtra State Electricity Distribution Company (MahaVitaran) and the Maharahstra State Transmission Company (MahaTransco) — will sign MoUs with Tata Power, Adani Power, Torrent Power, SoftBank Group, ReNew Power and Waaree Energies, on the occasion of Magnetic Maharashtra summit, starting February 18.

Tata Power, which is currently engaged in generation, transmission and distribution in Maharashtra, is expected to develop a project at Dherand in Raigad district, while Torrent Power has evinced interest to set up a gas-based project at the coastal area of Konkan region. Adani Power, which has a generation project in Vidarbha region, proposes to set up power plants based on coal, gas and solar, at different locations. Torrent Power, which is currently engaged in power distribution in the powerloom town Bhiwandi, is also keen to further invest in the distribution sector.

As far as renewable power is concerned, SoftBank Group proposes to invest in the manufacturing of solar panel module, while ReNew Power in solar, wind and waste to energy projects. Besides, Waaree Energies plans to set up solar power project in the state.

State energy secretary Arvind Singh told DNA, “Maharashtra has been the most industrialized and urbanized state with high potential for growth in demand for power. Lot of interest is shown by the private sector, both in renewable and non-renewable power projects.”

He informed that MahaGenco, MahaVitaran and MahaTransco are currently carrying out capacity addition and strengthening the existing infrastructure with a total investment of Rs 30,000 crore. MahaVitaran has registered distribution loss of 14.5 per cent and aggregate technical and commercial (AT&C) loss at 18.3 per cent in 2016-17. The AT&C loss will be further reduced to 13.5 per cent in 2017-18. The state had met the highest demand of 19,000 MW outside Mumbai last year.

Source: nyoooz

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Anand Gupta Editor - EQ Int'l Media Network

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