Essar Renewables, part of the Essar Group, has signed a memorandum of understanding (MoU) with the state government of Maharashtra in India to develop 2GW of renewable energy capacity primarily to support the electric vehicle (EV) charging infrastructure.
The estimated Rs80bn ($925m) investment will be channelled into a mix of round-the-clock renewable energy projects.
The projects will bolster the charging ecosystem for EV trucks operated by Blue Energy Motors and Greenline.
The move is in line with Essar Renewables’ strategic objective to exceed 8GW of renewable energy capacity by 2029.
Essar director Prashant Ruia stated: “As we navigate the global energy transition, this partnership with the government of Maharashtra is a critical step in reshaping the future of sustainable energy for green mobility.
“With our investment in renewable energy and green mobility solutions, we are driving the state’s growth while positioning India as a global leader in the green economy.”
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The investment is expected to generate direct employment for 2,000 people, contributing to Maharashtra’s green energy transition and economic growth.
The projects under this agreement are expected to kick off in the fiscal year 2026/27.
In early January 2025, Essar Energy Transition (EET) Hydrogen signed an engineering, procurement and construction contract with ENKA for its flagship low-carbon hydrogen production plant in Ellesmere Port in the UK.
The plant will have a capacity of 350MW and is expected to capture 600,000t of CO₂ annually.
In May 2024, Adani Energy Solutions (AESL) acquired a 100% stake, valued at Rs19bn ($227.5m), in Essar Transco.
The acquisition encompasses a fully functioning 400kV, 673km inter-state transmission line that connects Mahan in Madhya Pradesh to the Sipat pooling substation in Chhattisgarh.
