Maha's mega energy move: 38 GW green capacity, 7 lakh jobs
The Chief Minister's office in a post on X on Monday said, "Backed by ₹3.3 lakh crore in investments and 7 lakh new jobs, the state is blending affordability with sustainability. This is more than a transition, it's a blueprint for inclusive, green growth!"
The CMO quoted the article written by the Energy Department's Additional Chief Secretary Abha Shukla.
"India's electricity demand is rising rapidly. By 2030, driven by economic growth, industrialisation, and population pressure, the country's power consumption is expected to touch unprecedented levels. In this context, Maharashtra's approach stands out as a powerful example of how forward-thinking policy and long-term vision can turn a challenge into an opportunity," read the article.
It added that as India's largest industrial and power-consuming state, Maharashtra is expected to witness a 6.5 per cent annual increase in power demand. That translates to a requirement of more than 280 billion units of electricity by 2030, with peak demand jumping from the current 29 GW to 45 GW - a scale comparable to that of major European nations.
To meet this challenge, Maharashtra has formulated a practical, future-ready
energy transition plan
. Its goal is clear: affordable electricity, clean energy, and sustainable growth.
At the heart of this transition is a strong push for 38 GW of renewable energy (16 GW distributed RE for agriculture) with storage (pump storage and distributed battery storage ), solar and wind hybrid energy, with tariff commitments as low as ₹2.54 per unit for solar energy. This is not just a clean energy initiative - it is also a cost-saving move.
Lower production costs mean cheaper power for industries, which in turn enhances their global competitiveness. It is a smart economic strategy cloaked in environmental foresight.
The broader transition plan is expected to attract investments worth ₹3.3 lakh crore by 2030. Significantly, 75 per cent of this investment will be within Maharashtra and will be largely driven by the private sector. This scale of capital infusion promises to reshape the energy ecosystem and, in turn, the economy, it said.
For India to remain competitive in the global energy and manufacturing markets, it must deliver power that is not just clean but also affordable and reliable.
Maharashtra recognises this. By focusing on lower input costs through clean energy, the state is creating an environment where both MSMEs and large industries can thrive.
In addition, the state's investments in transmission networks and energy storage infrastructure are aimed at reducing wastage and ensuring that every unit of generated renewable power is efficiently utilised. These steps are critical to making the grid stable, attracting private participation, and preventing the kind of power curtailment issues seen in some developed markets like Germany, it said.
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Hindustan Times
a minute ago
- Hindustan Times
NATO-like protection in focus for Trump meeting with Ukraine, Europe
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First Post
a minute ago
- First Post
Putin agrees to US-Europe plan for NATO-style security guarantees for Ukraine, says Trump envoy
Russia's Vladimir Putin agreed at his summit with President Donald Trump to allow the United States and its European allies to offer Ukraine a security guarantee resembling NATO's collective defence mandate as part of an eventual deal to end the 3 1/2year war in Ukraine. Russian President Vladimir Putin has agreed in principle to allow the United States and its European partners to extend Ukraine a form of collective security guarantee modelled on NATO's Article 5, according to U.S. special envoy Steve Witkoff. Speaking on CNN's State of the Union on Sunday, Witkoff described the concession as 'game-changing,' noting that this was the first time Moscow had accepted the possibility of such protections. 'We were able to win the following concession: that the United States could offer Article 5-like protection, which is one of the real reasons Ukraine wants to be in NATO,' he said. STORY CONTINUES BELOW THIS AD Read Also: A non-NATO pact for Ukraine? US floats Western alliance-style security guarantees for Kyiv Article 5 of NATO stipulates that an attack on one member is considered an attack on all. While details remain scarce, the offer could provide a pathway around Putin's longstanding opposition to Ukraine joining the Western military alliance. Witkoff, who attended Friday's talks in Alaska alongside Secretary of State Marco Rubio, also said Russia agreed to legislate against infringing the sovereignty of other European nations. 'There was plenty more,' he added, without giving specifics. Outlining some of the details about the private discussions, Witkoff also said Russia had agreed to enact a law that it would not 'go after any other European countries and violate their sovereignty. And there was plenty more.' European Commission President Ursula von der Leyen, speaking at a news conference in Brussels with Ukrainian President Volodymyr Zelenskyy, applauded the move. 'We welcome President Trump's willingness to contribute to Article 5-like security guarantees for Ukraine and the 'Coalition of the willing' — including the European Union — is ready to do its share,' she said. Zelenskyy thanked the United States for recent signals that Washington was willing to support such guarantees, but that much was unclear. 'It is important that America agrees to work with Europe to provide security guarantees for Ukraine,' he said, 'But there are no details how it will work, and what America's role will be, Europe's role will be and what the EU can do, and this is our main task, we need security to work in practice like Article 5 of NATO, and we consider EU accession to be part of the security guarantees,' he said. STORY CONTINUES BELOW THIS AD Witkoff defended Trump's decision to abandon his push that Russian agree to an immediate ceasefire, which Trump had set as a benchmark going into the meeting. Witkoff said the Republican president had pivoted toward a peace deal because so much progress was made. 'We covered almost all the other issues necessary for a peace deal,' Witkoff said, without elaborating. 'We began to see some moderation in the way they're thinking about getting to a final peace deal.' Rubio, who appeared on three Sunday news shows, said there was not going to be any kind of truce reached because Ukraine was not at the summit. 'Now, ultimately, if there isn't a peace agreement, if there isn't an end of this war, the president's been clear, there are going to be consequences,' Rubio said on ABC's 'This Week.' 'But we're trying to avoid that.' Rubio, who is also Trump's national security adviser, said he did not believe imposing new U.S. sanctions on Russia would force Putin to accept a ceasefire. STORY CONTINUES BELOW THIS AD 'The minute you issue new sanctions, your ability to get them to the table, our ability to get them to table will be severely diminished,' Rubio told NBC's 'Meet the Press.' He also said 'we're not at the precipice of a peace agreement' and that getting there would not be easy and would take a lot of work. 'We made progress in the sense that we identified potential areas of agreement, but there remains some big areas of disagreement. So we're still a long ways off,' Rubio said. Zelenskyy and Europeans leaders, who heard from Trump after the summit, are scheduled to meet with him at the White House on Monday. 'I think everybody agreed that we had made progress. Maybe not enough for a peace deal, but we are on the path for the first time,' Witkoff said. He added: 'The fundamental issue, which is some sort of land swap, which is obviously ultimately in the control of the Ukrainians — that could not have been discussed at this meeting' with Putin. 'We intend to discuss it on Monday. Hopefully we have some clarity on it and hopefully that ends up in a peace deal very, very soon." STORY CONTINUES BELOW THIS AD With inputs from agencies
Time of India
15 minutes ago
- Time of India
Lift off: TN bets big on elevators
Tamil Nadu has a proven expertise in automobile, electronics, and textiles manufacturing. It has parallelly emerged as a frontrunner in the production of elevators as well. Manufacturers in the state fulfil more than 30% of the demand for elevators in India, which is the second-largest market for elevators and escalators after China. India requires 80,000-85,000 elevators a year. Currently, the market is growing at the rate of 10%-15% YoY, which opens a huge opportunity for the state. TN is home to top MNCs including KONE, Fujitec, and homegrown Johnson Lifts. These companies have established their R&D facilities here too. Several small and medium players are operating in Chennai and Coimbatore. As the largest manufacturer, Made in Tamil Nadu elevators are exported to different countries. With the bureau of Indian standards (BIS) mandating the new lift code (IS 17900-1 & 2) to enhance safety features effective from the end of the year (CY2025), exports could see an upswing as elevators must be manufactured as per European standards. Manufacturers say the state can be a 'global player' if steps are taken to build components locally to reduce dependence on China. TN had an early mover advantage in this space since the 1960s, thanks to a strong industrial ecosystem in regions such as Chennai. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo The city-headquartered Johnson Lifts, the largest manufacturer of elevators and escalators in India, has some of its installations at the new parliament house, statue of unity, Pamban bridge in Rameswaram, besides metro and railway stations and airports. A pioneer in the sector, the more than six decades old company recorded a turnover of `3,000cr in FY25 out of the `13,000cr revenue of organised elevator players in the country. About 80% of its demand is from the residential segment. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Gold Rates Today in Chennai | Silver Rates Today in Chennai Yohan K John, director, Johnson Lifts says around 25,000- 26,000 elevators are produced a year in TN. "Better manpower is a reason for the state being a hub," he added. With four facilities including three around Chennai and one in Nagpur, the company is investing `250 crore over the next 3-4 years to expand its R&D. The facility coming up at Sengadu in Kancheepuram district will have a new test tower to test high speed elevators exceeding 4 metres a second. Johnson has presence in 11 countries across the Middle East, Africa, and South Asia — including standout projects such as Skywalk Tower Nepal. Finnish firm KONE, whose India operations is based in Chennai, has developed the world's largest passenger elevator with a capacity to carry 235 people at the Jio world centre in Mumbai. In a span of four decades, it has emerged as a leading player, wherein one out of every four lifts used in India is made by KONE. In 2019, KONE Elevators India, a fully owned subsidiary of the Finnish KONE Corporation, opened its new plant at Sriperumbudur. Later, a 72-metre tall R&D elevator test facility was developed at an investment of `100 crore and inaugurated in 2023. Last year, it forayed into escalator manufacturing. The production unit also exports to Bangladesh, Bhutan, Nepal and Sri Lanka. "This is the largest factory for the industry in south and south-east Asia for elevators and escalators," said Amit Gossain, MD, KONE India. "These elevators require a lot of steel. For us to be competitive, the steel should be priced right. When we export a product (made using imported steel), the govt should offer some subsidy so that we are more competitive globally," he added. Another city-based manufacturer, Nibav Home Lifts has five manufacturing units, with the largest facility becoming operational at Irungattukottai last year. Founded in 2019, the company is focused on home lifts for private residential use. It exports to about nine countries including the UAE, Malaysia, the US, Canada. Vimal Babu, founder-CEO, said, "The presence of industrial zones with plug-and-play facilities has helped manufacturers scale faster and reduce time-to-market. Simplifying regulatory frameworks and enhancing export facilitation can improve global competitiveness," he said. Kannan Joseph, MD, Cooper Elevators tells us, "Component manufacturing is the need of the hour for SMEs to expand. Key components including guide rails, cables, and drives are being largely imported from China as we have only a few companies in this segment in India. So, the TN govt must support component manufacturing by creating a facility. This will make us self-sufficient," he said. State industries secretary V Arun Roy said, "The sector will be supported. Mechanical and electronics manufacturers can avail of schemes for component manufacturing." Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
