Maharashtra government on Thursday approved a joint venture between state-run MahaGenco and India's largest power generator NTPC which will set up an ultra-mega solar power park with a total generation capacity of 2,500 MW.
"National Thermal Power Corporation Limited (or its subsidiary) and Maharashtra State Power Generation Company (Mahagenco) will have a capital investment of 50:50, respectively, for the development of Ultramega Renewable Solar Park," reads the official statement.
The state energy department has been appointed as a nodal agency for project development.
The Chief Minister's Office said that the JV has been bestowed with the responsibility of adhering to the state's renewable energy policy during the implementation of the proposed solar park.
The state government has waived a one-time fee and annual operation and maintenance fee from the solar park operator as per the recent guidelines issued by the central government.
( With inputs from ANI )
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