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Mumbai

Updated on: Wednesday, September 08, 2021, 08:12 PM IST

Maharashtra Cabinet approves solar capacity addition of 577 mw

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In a bid to increase the share of solar power projects in the state’s total generation capacity, the Maharashtra Cabinet on Wednesday approved establishment of solar power projects by the state-run Maharashtra State Power Generation Company (MahaGenco) at various places. The government has cleared two proposals comprising solar power projects of total capacity of 187 mw and another of 390 mw.

Currently, MahaGenco has 180 mw of solar generation.

Of the total generation capacity of 187 mw, 50 mw is proposed in Osmanabad district, 60 mw in Latur, 20 mw in Bhusawal, 12 mw each at Parli and Koradi, 8 mw at Nashik and 25 mw in Dhule. The cabinet also approved MahaGenco to borrow loan up to Rs 588.21 crore from KFW Bank Germany.

These projects will be set up on an Engineering Procurement and Construction basis. Of the 187 mw, Rs 158.29 crore will come from MahaGenco's internal resources or debt. MahaGenco will repay the loan borrowed from the KFW Bank Germany.

As far as 390 mw of solar power projects are concerned, 13o mw capacity (90 mw, 30 mw and 40 mw) will come up at different sites in Washim district on EPC model. Under Washim-1 category, two projects with 20 mw each and another with 40 mw will be developed. Further under Washim 2 category, 145 mw in Chandrapur district and three projects with 25 mw capacity each will come up in Yavatmal district.

The state cabinet has approved a loan of Rs 1,564.22 crore at 0,05% rate of interest per annum KFW Bank Germany with repayment in maximum 12 years. MahaGenco is also expected to explore new project financing under innovative project conditions.

The state cabinet also approved MahaGenco to raise share capital of Rs 364.18 crore from its internal resources or trough debt. MahaGenco will have to repay the loan taken from KFG Bank Germany.

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Published on: Wednesday, September 08, 2021, 08:12 PM IST
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