Cabinet nod for two solar power projects
MUMBAI: The state cabinet on Wednesday cleared two solar power projects that will be set up by Maharashtra State Power Generation Corporation ltd (Mahagenco). The cabinet also approved raising of funds for the projects — one of 187 Megawatt (MW) and another of 390 MW.
“The cabinet approval will give a boost to the solar power projects. With climate change coming back into focus, there is a need to reduce dependence on non-renewable sources of energy,”said an official from the state secretariat.
The project financing agreement for the 187MW solar project was approved and a loan of up to Rs 588.21 crore will be taken from KFW-Bank, Germany.
