Advertisement

Business

Updated on: Tuesday, December 21, 2021, 02:43 PM IST

ZR Power signs pact with Maharashtra govt to build energy plants, data centres

The MoU aims to build state-of-the-art sustainable energy manufacturing plants/data centres with world-class facilities in Maharashtra./ Representative Image |

The MoU aims to build state-of-the-art sustainable energy manufacturing plants/data centres with world-class facilities in Maharashtra./ Representative Image |

Advertisement

ZR Power Holdings has inked a pact with the Maharashtra government to build sustainable energy manufacturing plants/data centres having world-class facilities in Pune and Navi Mumbai with a development potential of Rs 1,200 crore.

''ZR Power Holdings Limited, a leading energy producer from Hyderabad has embarked on a new journey by signing a Memorandum of Understanding (MOU) with the Government of Maharashtra in presence of Subhash Desai, Minister of Industries, Govt of Maharashtra, Dr P. Anbalagan, CEO, Maharashtra Industrial Development Corporation (MIDC) and Baldev Singh, additional chief secretary industries,'' a statement said.

According to the statement, the agreement was signed in Dubai. The MOU aims to build state-of-the-art sustainable energy manufacturing plants/data centres with world-class facilities in Maharashtra.

Under the MoU, a total of two ZR Data Centres have been proposed in markets like Navi Mumbai and Pune totalling a development potential of Rs 1,200 crore and generating direct employment for 300 employees. The proposed cost for the ZR Data Centre in Navi Mumbai is Rs 800 crore, and Rs 400 crore for the ZR Data Centre 2 at Pune, as per the statement.

''We are honoured to sign this Memorandum of Understanding with the Government of Maharashtra,'' said Zain Ravdjee, founder of ZR Power Holdings Ltd.

The pact marks long-term cooperation between the Maharashtra government and ZR Power Holdings Limited. Maharashtra, as a state, is the country's economic engine, and we intend to increase our investment with the goal of improving the state's technical infrastructure, according to the statement. These two projects will solidify ZR Group's leadership in the data centre industry.

ZR Power Holdings Ltd is a sustainable energy producer headquartered in Telangana. The firm also constructs data centres.

ZR Renewable is a subsidiary of ZR Power Holdings Ltd and an Independent Power Producer (IPP), established in 2011 by Ravdjee to solve the gap in renewable energy supply and promote renewable energy power projects for sustainability and efficiency in the country. It is one of the most significant branches of ZR Power Holdings Ltd.

Given the evident social and economic advantages of the investments, the Maharashtra government has vowed to assist in streamlining the regulatory processes and permissions for the two projects to promote general ease of doing business.

ZR Power Holdings Ltd, promoted by the renowned Ravdjee Family, remains committed and will work closely with the government to propel economic growth. The company has grown exponentially and is looking to expand into other forays by FY2023.

(With inputs from PTI)

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Tuesday, December 21, 2021, 02:43 PM IST
Advertisement