In a significant development that could impact Maharashtra’s political landscape ahead of the upcoming elections, ReNew Energy’s proposed Rs 18,000 crore solar panel project at Butibori is reportedly set to relocate to Gujarat.

Although no official confirmation has been provided by the company or the Maharashtra Industrial Development Corporation (MIDC), sources suggest that the decision is nearly final.

ReNew Energy, a Nasdaq-listed company and leader in the renewable energy sector, had signed a memorandum of understanding (MoU) with the Maharashtra government in June 2023 to set up a renewable energy plant at Butibori. The project was expected to generate over 8,000 direct and indirect jobs and was to be developed over 300 acres of land. The facility aimed to manufacture metallurgical grade silicon, polysilicon, and ingot-wafers for solar panels.

At the time of the MoU signing, Deputy Chief Minister Devendra Fadnavis had stated that the project would position Vidarbha as the "solar backbone" of India.

However, sources cite political indifference and insufficient efforts by officials as key reasons for the company's decision to reconsider. High electricity tariffs for industrial consumers in Maharashtra are also believed to have played a critical role in the move.

If the relocation is confirmed, it could have far-reaching consequences, not only for Vidarbha’s industrial growth but also for the state’s renewable energy ambitions and political narrative ahead of the elections.