Maharashtra signs deal with Adani Energy for 11000 MW green power generationADANIGREEN - 1550 Change: -73.75 (-4.54 %)
News: The Maharashtra government's energy department on Tuesday signed a memorandum of understanding with Adani Green Energy Group (AGEL) to generate 11000 MW green power in the next five years. According to the agreement, AGEL will set up Pumped Storage Projects (PSP) in the next four to five years, through which about 11,000 MW power will be generated. It would entail an investment of Rs 60,000 crore.
Views: It will be hugely positive for companies in the capital goods sector like L&T, ABB India, Cummins KEC International and Adani Green as it will provide good order inflows for these companies.