Maharashtra Clears 5,000 MW Renewable Push with Mahagenco–SJVN Joint Venture

The Maharashtra government has given the green light to a major renewable energy initiative, approving the formation of a joint venture (JV) between Maharashtra State Power Generation Company Ltd. (Mahagenco) and state-run SJVN Ltd. to develop 5,000 MW of clean energy capacity.

According to the cabinet decision, SJVN will hold a majority 51 percent stake in the partnership, while Mahagenco will retain 49 percent. The new entity will focus on a mix of technologies, including pumped storage hydro, solar–wind hybrid, floating solar, and projects linked with green hydrogen.

The rollout will begin with a first-phase development of 735 MW, covering three major projects: the 125 MW Ghatghar Phase-2 lift hydro project, the 105 MW Irai floating solar project, and the 505 MW Nimnawardha floating solar project.

This JV reflects Maharashtra’s broader strategy to expand its renewable energy footprint while ensuring energy security through diversified technologies.