SECI, MahaGenco REL sign MoU for up to 5 GW clean energy projects
The Solar Energy Corporation of India Limited (SECI) and MahaGenco Renewable Energy Limited (MahaGenco REL), a wholly owned subsidiary of Maharashtra State Power Generation Company Limited (MAHAGENCO), have signed a Memorandum of Understanding (MoU) to jointly explore and develop renewable energy and clean energy projects in Maharashtra and across India.
The partnership envisages a potential project pipeline of up to 5 GW and will focus on renewable energy generation, energy storage and emerging clean energy technologies.
Areas of collaboration
Under the MoU, the two entities will collaborate on the development of Firm and Dispatchable Renewable Energy (FDRE) projects, Round-the-Clock (RTC) renewable power projects, Battery Energy Storage Systems (BESS), Pumped Storage Projects (PSP), Green Hydrogen and Green Ammonia. The agreement also covers power trading and project monitoring consultancy services.
SECI said the collaboration combines its experience in renewable energy development and power trading with MahaGenco REL’s project development capabilities to support the expansion of clean energy infrastructure.
MoU signing
The MoU was signed by Sivakumar V. Vepakomma, Director (Power Systems), SECI, and Abhay Harne, Director (Projects), MAHAGENCO, in the presence of Akash Tripathi, Managing Director, SECI, along with senior officials from SECI and MahaGenco REL.
Expanding SECI’s clean energy portfolio
The agreement comes a day after SECI signed a 700 MW Commercial and Industrial (C&I) term sheet with Acme Cleantech Solutions Private Limited, marking its first transaction in the C&I segment.
These developments indicate SECI’s efforts to expand beyond its traditional role of facilitating renewable power procurement for distribution companies and into newer market segments and clean energy technologies.
Photo credit: SECI/X
