At a Glance
|Strategic Outcomes||SO1 Reduced GHG emission, SO2 Creation of green jobs, SO3 Increased access to sustainable services|
|Start Date||Q1 26-02-2019|
|End Date||q4 31-07-2020|
|Actual Budget (USD)||54,470|
|Actual Expenditure (USD)||53,048|
|GGGI Share (USD)||54,470|
|Poverty and Gender Policy Markers|
|Name of Client (Lead/Prime implementer if GGGI is part of a consortium)||Maharashtra State Road Development Corporation Limited (MSRDC)|
|Participating Organization (Funding/donor)|
|Name of consortium members, if any|
MSRDC, a Government of Maharashtra, India undertaking is developing its state-of-the-art transportation network called the “Nagpur Mumbai Super Communication Expressway (‘Maharashtra Samruddhi Mahamarg’) that connects ten districts directly to Mumbai and fourteen other districts through a feeder network. GGGI & MSRDC have signed an MoU through which GGGI is the technical partner for sustainability and greening of MSRDC portfolio, especially the Maharashtra Samruddhi Mahamarg by creating the solar energy portfolio for MSRDC.
Maharashtra Samruddhi Mahamarg’ is a greenfield project and will reduce the 700 km travel time between Nagpur and Mumbai by half to 8 hours instead of currently 16 hours. GGGI is helping MSRDC green its electricity consumption as well develop a Renewable Energy portfolio by partnering for atleast 100 MW of solar power installation along the ‘Samruddhi Mahamarg’.
The overall objective of the project is to demonstrate a new model for Government-owned infrastructure companies with land assets to repurpose them for renewable energy along with associated revenue streams. This will directly contribute to India’s NDC for RE generation.
Project Results and Impact
250MW Solar PV project proven technically and commercially viable. The highway is accepted and marketed as net neutral. Investment Memorandum (IM) prepared by GGGI is accepted for investment decision. Debt financing of ~ US$ 145M secured for the project. For project implementation, MSRDC has incorporated a company named ‘Mahasamruddhi Renewable Energy Limited’ in September 2020. MSRDC is planning to bid out the EPC and implement the project to commemorate their future vision of E-Mobility. The project will wheel RE power for all future E-Mobility requirement of the highway.
GGGI’s support to MSRDC’s greening agenda by facilitating the design and debt availability for 250 MW of solar PV linked to the development of Samruddhi Mahamarg is completely aligned with the Government of India’s renewable energy targets of 100 GW of solar by the year 2022. GGGI designed project would directly cater to the target.