Mumbai: The Maharashtra Budget 2026–27 outlines a major push towards renewable energy and energy security, with the government expanding solar programmes, pumped hydro projects and electricity subsidies for farmers.
Presenting the Budget in the Legislative Assembly, Chief Minister Devendra Fadnavis said the state aims to significantly increase its share of clean energy in the coming decades as part of the long-term development roadmap for Maharashtra.
The government reiterated its commitment to providing electricity relief to farmers under the Mukhyamantri Baliraja Mofat Veej Yojana, under which agricultural pump consumers up to 7.5 HP receive 100 per cent concession in electricity bills. According to the Budget, ₹32,756 crore has already been distributed under the scheme up to February 2026, and an outlay of ₹23,000 crore has been proposed for 2026–27.
The Budget also highlighted progress under the Mukhyamantri Saur Krishi Vahini Yojana 2.0, which aims to establish 16,000 MW of solar power capacity to ensure daytime electricity supply for agricultural pump consumers.
So far, 3,349 MW capacity has been commissioned, and the government expects an additional 10,000 MW capacity to be generated by December 2026 under the scheme.
Solar power generation for agriculture is also being promoted through the PM-KUSUM Component B scheme and the Magel Tyala Saur Krishi Pump scheme, under which more than 6.63 lakh solar agricultural pumps have been installed in the state.
The government noted that Maharashtra currently ranks first in the country in the implementation of the KUSUM Component B programme.
In the residential sector, the Budget highlighted the implementation of the PM Surya Ghar Free Electricity Scheme, under which over 4.57 lakh households have installed rooftop solar systems with a combined capacity of more than 1,735 MW.
To expand solar adoption further, the state government has approved the Self-Sufficient Maharashtra Residential Rooftop Solar (SMART) Scheme, which will provide subsidies worth ₹635 crore for around five lakh households consuming up to 100 units of electricity.
The Budget also referred to the Maharashtra Renewable Energy and Energy Storage Policy 2025–2035, which aims to increase the share of green energy generation in the state to 50 per cent by 2029 and 65 per cent by 2035.
According to the government, the policy is expected to attract investments of about ₹3 lakh crore and generate revenue of around ₹15,600 crore through State GST.
In addition, the state is promoting large-scale pumped hydro storage projects to support renewable energy generation. The government said memorandums of understanding have been signed for 55 pumped hydro projects, with an estimated generation capacity of 78,215 MW.
These projects are expected to attract investments of ₹4.16 lakh crore and generate more than 1.28 lakh employment opportunities.
According to the government, these initiatives are aimed at strengthening Maharashtra’s energy security, expanding renewable energy generation and supporting the transition towards a cleaner energy economy.
