Essar Renewables Ltd (ERL) has signed an agreement with Maharashtra government to invest Rs 8,000 crore in renewable energy projects in the state, according to an official statement.

The MoU was signed in the presence of Maharashtra Chief Minister Devendra Fadnavis, Maharashtra Industries Minister Uday Samant and Essar Group Director Prashant Ruia at the World Economic Forum (WEF) 2025 in Davos, Switzerland.

ERL plans to develop 2 gigawatts (GW) of renewable energy in Maharashtra. 

The company will invest in a mix of round-the-clock renewable energy projects to support an electric vehicle charging ecosystem to be developed by Blue Energy Motors and Greenline. 

The proposed Maharashtra government projects are set to commence in the financial year 2026-27.