* ₹12,303 Crore Allocated for ‘Majestic’ Scheme’
Mumbai, April 29: In a major push towards sustainable and pollution-free energy, the Maharashtra government has announced the ambitious “Majestic” scheme. The project, with a total outlay of ₹12,303 crore, was approved in the Cabinet meeting held on Tuesday. This decision is expected to bring transformative changes to the state’s energy sector, with a target of meeting 50% of total electricity consumption from renewable energy sources by 2030.
* State’s Green Transformation with World Bank Support
The project will receive significant financial support from the World Bank, which will provide around 70% of the total cost approximately ₹8,616 crore as a loan. The remaining funds will be mobilized by the state government and power utilities. The scheme will be implemented in phases over five years, from 2026 to 2031. A key focus will be on modernizing the state’s aging transmission infrastructure to enhance grid capacity and reliability.
* 40 New Substations and Battery Storage Network
To meet the rising demand for electricity, 40 new substations will be established across the state. Additionally, modern battery energy storage systems will be developed to store electricity efficiently, enabling the use of solar and wind energy even during nighttime. Technical studies will also be conducted to explore pumped-storage hydroelectric technology at major projects like Koyna Dam, Panshet Dam, and Varasgaon Dam.
This project is expected to become a milestone in ensuring Maharashtra’s long-term energy security and positioning it as a leader in clean energy.
