• Big investment in green energy sector in the state


• Reduction in electricity tariff due to renewable energy


• Mahavitaran chairman Lokesh Chandra believes

Mumbai Energy Week: The proportion of renewable or green energy in the electricity consumption in the state will be increased from the present 13 percent to 52 percent by 2030 and due to the emphasis on green energy, it has been possible to reduce the electricity rates for the next five years. Lokesh Chandra, Chairman and Managing Director of Mahavitaran, asserted that large amount of private investment is coming in the green energy sector in the state in Mumbai on Wednesday. He was speaking during a keynote address at a seminar on investment in green energy sector in Maharashtra as part of Mumbai Energy Week. Managing Director Lokesh Chandra said that the number of electric vehicles in the state is increasing and a large number of facilities will be required for their charging. A large number of data centers are being set up in the state.

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In the next five years, an investment of Rs 3.3 lakh crore is expected for the energy transformation plan in the state. 75 percent of that investment is done by private investors. Green energy is being emphasized in the energy transition. A large amount of investment is coming in this sector and it is indicative of the right policies. He informed that since green energy is available cheaply, Mahavitran will save a lot in the purchase of electricity in the next five years and that is why the company has been able to propose a reduction in electricity tariff for five years in the state.

Green hydrogen projects will also be set up. For all these, a large amount of electricity will be required and it has been provided by the Mahadistribution. He added, Managing Director Lokesh Chandra, battery storage projects are being set up to utilize the solar energy generated during the day during peak electricity demand in the evening. Also, emphasis is being placed on pumped storage projects so that hydroelectricity can be used at times of peak demand. Managing Director Lokesh Chandra said that there will be huge investment in the state in the future in the field of battery storage, pump storage and green hydrogen.

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“As per Prime Minister Narendra Modi’s target, renewable energy consumption should be increased to 50 percent by 2030. The energy transformation plan implemented by Maharashtra under the leadership of Chief Minister Devendra Fadnavis will increase the renewable energy consumption in the state to 52 percent during this period. As per the Prime Minister’s dream for the development of the country’s economy, Maharashtra’s economy will be one trillion dollars under the leadership of the state’s chief minister. As the economy expands rapidly, how much energy does the state need? A Resource Adequacy Plan has been prepared keeping this in mind. Lokesh Chandra, Chairman and Managing Director of Mahavitaran said.