Maharashtra signs Rs. 60,000 crore power MOU with Adani Group.

The state energy department signed a MoU for investments worth Rs. 60,000 crore with Adani Group recently, which will bring 11,000 MW additional power to Maharashtra in five years. This will also generate 30,000 new jobs, said energy minister Nitin Raut.

"The state is already facing a power deficit, especially during summer," a senior Mantralaya official said, adding that during last summer, the peak demand had shot over 28,000 MW in a few days and the state had to purchase additional power from the exchange for as high as Rs. 11-12 per unit. The normal power purchase is for Rs. 3.50 to Rs. 4.50 per unit. Green energy is now available for rates lower than this and procuring additional electricity of 11,000 MW will ensure surplus power in near future, the official said.

This MoU will benefit 2.8 crore consumers, including lakhs of farmers.

ET