Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) and Global Energy Alliance for People and Planet (GEAPP) in India partner to implement livelihood-based solar projects in Maharashtra
Mumbai, 3 May 2023 – Global Energy Alliance for People and Planet (GEAPP) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) have announced a strategic partnership to enable the implementation of solar projects of 1000 MW across the state of Maharashtra, India. The MoI was signed to accelerate the adoption of renewable energy and promote sustainable development.
Under this partnership, GEAPP and MAHAPREIT will collaborate in enabling the implementation of 500 MW of rooftop solar for small and medium enterprises (SMEs) and 500 MW of ground-mounted decentralised solar under the Prime Minister of India led KUSUM program. The Maharashtra government announced the target of installing 200,000 solar agricultural pumps in the state. Also, the program will target enterprises across the 105+ SME clusters with a scaling up potential of 2.5 GW. The partnership aims to support MAHAPREIT in managing, designing, and developing investment projects.
“We are delighted to have GEAPP as our partner to support us with the implementation of solar projects of 1000 MW across the state. Through this partnership we re-affirm our commitment towards a sustainable development of Maharashtra. This initiative will also encourage green investments and generate jobs supporting India’s smooth energy transition,” said Bipin Shrimali, Chairman and Managing Director, MAHAPREIT.
On the initiative, Ravi Venkatesan, Global Chairperson, GEAPP, said, “As GEAPP, we are committed to acting boldly in driving the transition towards renewable energy and reducing our carbon footprint. This MoI is a step in that direction, and we hope to provide avenues for clean and affordable energy to reach the people of Maharashtra. I believe our partnership will support the Maharashtra government’s commitment to generating 22 GW of renewable energy in the state. With the combined expertise of both MAHAPREIT and GEAPP, we are confident that we will be able to successfully implement the solar projects of 1000 MW and contribute towards a sustainable future.”
The collaboration will also facilitate the creation of a sustainable business model for all stakeholders and provide institutional support to MAHAPREIT for the successful implementation of the project. With this project, GEAPP will solarise agriculture feeders and SMEs, impacting 1 million lives across the state by 2026.
“Our partnership with MAHAPREIT will pave the way for sustainable energy solutions in the state of Maharashtra. This collaboration marks a significant step towards achieving our shared vision of promoting energy transition and reducing carbon footprint powered by renewable energy”, said Saurabh Kumar, Head, GEAPP in India. “Maharashtra has an estimated 8.4 lakh SMEs, which constitutes about 8% of the total SMEs in the country. While large industries have better access to technical advisory and expert support, the sector still seeks financial aid (loans, credit facilities). However, the same is not as easily accessible to SMEs. Through this collaboration, we aim to empower SMEs and rural communities with access to clean and affordable energy.”
The partnership was formalised at a signing ceremony in Mumbai, Maharashtra, attended by Bipin Shrimali, Chairman and Managing Director, MAHAPREIT; Ravi Venkatesan, Chairman; GEAPP; and Saurabh Kumar, VP for GEAPP in India.
About MAHAPREIT: MAHAPREIT -Mahatma Phule Renewable Energy and Infrastructure Technology Limited is a wholly Subsidiary Company of Mahatma Phule Backward Class Development Corporation (MPBCDC), Government of Maharashtra State PSU. MAHAPREIT has objectives to establish and carry-on business of Generating, Trading, Operating, Leasing and Renting Renewable Power Projects, mainly but not limited to Solar Power Projects including Solar Parks along with sub-stations and transmission lines on ownership and/or build, own, and transfer basis.
About Global Energy Alliance for People and Planet (GEAPP): The Global Energy Alliance for People and Planet (GEAPP) is an alliance of philanthropy, governments in emerging and developed economies, and technology, policy, and financing partners. Our common mission is to enable LMIC’s shift to a clean energy, pro-growth model that accelerates universal energy access and inclusive economic growth while supporting the global community to meet critical climate goals during the next decade. As an alliance, we aim to reduce 4 gigatons of future carbon emissions, expand clean energy access to one billion people, and enable 150 million new jobs. With philanthropic partners, IKEA Foundation, The Rockefeller Foundation, and Bezos Earth Fund, GEAPP works to build the enabling environment, capacity, and market conditions for private sector solutions, catalyse new business models through innovation and entrepreneurship, and deploy high-risk capital to encourage private sector solutions and assist just transition solutions. For more information, please visit www.energyalliance.org and follow us on Twitter at @EnergyAlliance.
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