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Maharashtra's Rs12,303 Crore MAGESTIC Project to Double Renewable Energy by 2030

A bold leap toward sustainability: Maharashtra's mega green energy plan promises cleaner power, smarter grids, and a 50% renewable target. Will it transform India's energy future?

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The image shows an aerial view of a large solar farm in the middle of a field, surrounded by trees, grass, plants, and water. On the ground, there are solar panels, and a train can be seen travelling along the railway track. This image is representative of the renewable energy industry, which is known for its high efficiency and cost-effective solutions.

Mumbai:

Maharashtra's Rs12,303 Crore MAGESTIC Project to Double Renewable Energy by 2030

In a major push towards clean and sustainable power, the Maharashtra Cabinet has approved an ambitious Rs12,303 crore green energy initiative titled 'Maharashtra: Accelerating Green Energy and Storage Technologies Integration in Connected Grid (MAGESTIC)'. The decision was taken at a Cabinet meeting chaired by Chief Minister Devendra Fadnavis.

Commission handles planning, funding, monitoring

The project aims to significantly increase the share of renewable energy in the state's energy mix from the current 17 per cent to 50 per cent by 2030. It focuses on strengthening transmission infrastructure, integrating renewable energy into the grid, and developing advanced energy storage technologies.

As part of the plan, the state will undertake large-scale upgrades to its power transmission network, including the construction of new substations and transmission lines, along with modernization of existing systems. A major component of the scheme is the promotion of Battery Energy Storage Systems (BESS), with a target capacity of 16,000 MWh to ensure grid stability and efficient energy management.

The Cabinet has also approved the submission of the project's preliminary report to the Department of Economic Affairs for further financial processing. Around 70 per cent of the total project cost-amounting to ₹8,616 crore-will be financed through loans from the World Bank, while the remaining 30 per cent will be contributed by state power utilities.

Key state-run companies, including Maharashtra State Electricity Distribution Company Limited (MSEDCL), Maharashtra State Electricity Transmission Company Limited (Mahatransco), Maharashtra State Power Generation Company Limited (Mahagenco) and Maharashtra Renewable Energy Development Agency (MREL), will be responsible for loan repayment and execution of various components.

The state government will provide equity support of Rs 1,377 crore to MSEDCL in a phased manner between 2026 and 2031.

The project also includes the construction of 40 new substations, expansion of transmission capacity, and installation of high-efficiency conductors to improve power flow. Technical studies will be conducted for pumped storage hydroelectric projects at key locations such as Koyna, Panshet and Varsgaon to further enhance storage capacity and renewable integration.

Officials said the scheme will play a crucial role in meeting the state's rising electricity demand through clean energy sources, while also improving grid reliability and resilience in the face of climate change challenges.

The MAGESTIC project will be implemented over a five-year period from 2026 to 2031. A dedicated cell and monitoring mechanism will be set up within the Energy Department to ensure effective execution.

With this decision, Maharashtra is set to take a significant step towards strengthening its green energy ecosystem and ensuring long-term energy security.

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