Mumbai, Apr 8 (IANS): The Maharashtra State Power Generation Co (MAHAGENCO) and National Thermal Power Corporation will form a joint venture to set up an "ultra-mega solar park" in the state to generate 2,500 MW green power, officials said here on Thursday.

The Rs 1,727-crore project proposal, kickstarted in 2020, was approved by the state Cabinet presided over by Chief Minister Uddhav Thackeray.

As per the plans, the NTPC or its subsidiary and MAHAGENCO joint venture will have a capital investment of 50 per cent each for developing the ultra-mega solar power park, and the Energy Department will be the state nodal agency.

The parks are proposed to be developed under engineering, procurement and commissioning (EPC) contracts in 3 stages on lands owned by the MAHAGENCO, and others belonging to the state, centre or privately owned properties for the mega-venture.

A lumpsum fee from the project holder in the solar energy parks, operation and maintenance fees, etc shall be charged.

For non-conventional energy sources, 17,360 MW capacity generation projects shall be developed by March 21, 2025, which would include 12,930 MW of solar power projects.

These projects would create 7,500 jobs during construction and 5,000 during operations, boost local economies, help provide clean and cheap energy to the consumers, reduce greenhouse effects and carbon footprints while providing affordable alternatives to conventional but expensive fossil fuels.

The ultra-mega solar parks of different capacities shall come up in stages at identified locations in Latur, Washim, Yavatmal, Chandrapur, Nashik, Jalgaon, Pune, Beed, Ahmednagar, Solapur, Akola, Dhule, and Hingoli.

For non-conventional energy, 17,360 MW capacity generation projects will be developed by March 21, 2025, of which 12,930 MW capacity solar power plants are targeted to be started.

Presently, there are such projects operating in the state and generating 9,305 MW, and of these, 2,123-MW are solar power plants.