The state government (Mahagenco Renewable Energy Ltd) signed four memorandums of understanding (MoUs) with REC Power Development and Consultancy Ltd (RECPDCL), THDC India Ltd, Hindustan Petroleum Corporation Ltd (HPCL), and Power Grid Corporation of India Ltd (PGCIL) at the Sahyadri Guest House on Thursday.

The signing of the four Memorandums of Understanding, with an investment of around Rs 47,000 crore, according to Dy CM and Energy Minister Devendra Fadnavis, will create 19,000 job possibilities.

"Sectors such as ARI, green hydrogen, and green ammonia will enhance green energy initiatives and help Maharashtra progress towards its goal of achieving use of 50% clean energy by 2030," he stated.

RECPDCL will first begin a 500 MW hybrid project. 1,663 direct and indirect employment will be generated as a result of this MoU. A projected investment of Rs 3,000 crore is made.

The agreement with THDCIL will result in the development of 4,250 MW of renewable energy projects and the creation of 14,130 direct and indirect employment. Rs 29,329 crore will be invested in this project.