Maharashtra Dazzles at the World Economic Forum

Davos – Investments hit USD 10.5 bn

Renew Power commits to invest INR 50,000 crore for Renewable Energy generation in Maharashtra

Davos, Switzerland: The Maharashtra delegation has had a successful visit to Davos at the World Economic Forum Annual Meeting 2022. The state signed over INR 80,000 cr (USD 10.5 Billion) in investment intentions with 24 companies and 2 MoUs of strategic cooperation.

ReNew Power will invest an astonishing INR 50,000 cr (USD 6 bn) in Renewable Power generation in the state with a generating capacity of 10,000 to 12,000 Megawatts; Chairman and Managing Director of ReNew Power, Sumant Sinha signed the MoU with the Government of Maharashtra.

Investments coming to state are from countries such as Singapore, Indonesia, USA, and Japan and include investment in diverse sectors including Pharmaceuticals and Medical Device, IT, Data Centers, Textiles, Food Processing, Packaging, Paper & Pulp, Steel, etc.

Additionally, the State Government signed an MoU with Byju’s for introducing digital content in the remote areas of the state and municipal schools in Mumbai. This co-operation will be extremely helpful for lacs of students in the Governments schools in the state.

BMC Commissioner Iqbal Singh Chahal and Ranjit Deol, Secretary, School Education joined online, while Byju and Divya Raveendran, founders of BYJU’s were present at the Maharashtra lounge at WEF, DavosF

furthermore, the state also signed a strategic co-operation agreement with World Green Building Council for knowledge sharing and helping the state achieve its net zero-emission targets and for the capacity building of state authorities in Environmental Sustainability Governance.

The Magnetic Maharashtra 2.0 program was conceptualized under the leadership of Chief Minister Uddhav Thackeray for strengthening the resilience of the state’s economy. Including today, a total of 10 editions of these programs have been organized, with 122 MoUs as of today, bringing the total investment in the state to INR 2.7 lac crore (USD 35 Billion) with a potential to generate almost 400,000 jobs.

Aaditya Thackeray, Minister of Environment & Climate Change, Subhash Desai, Minister of Industries and Dr Nitin Raut, Minister of Energy along with secretaries of these departments were present during the ceremony along with industry representatives from the signing companies.