The Maharashtra cabinet has approved the Maharashtra: Accelerating Green Energy and Storage Technologies Integration in Connected Grid scheme. The programme aims to significantly increase renewable energy usage while strengthening transmission and storage infrastructure.
The decision was taken at a cabinet meeting chaired by Chief Minister Devendra Fadnavis. The scheme targets long‑term energy security amid rising electricity demand in the state.
The MAGESTIC scheme seeks to raise the share of renewable energy in Maharashtra’s energy mix from 17% to 50% by 2030. The target reflects the state government’s focus on accelerating clean energy adoption.
The programme is designed to ensure that higher renewable penetration does not compromise grid stability. It aligns with broader national clean energy and decarbonisation goals.
A major component of the scheme involves strengthening the power transmission network. The project includes the construction of 40 new substations across the state.
Transmission capacity will be expanded through the installation of high‑efficiency conductors. Existing transmission infrastructure will also be modernised to improve efficiency and reliability.
The scheme includes the development of a Battery Energy Storage System capacity of 16,000 MW‑hours. This storage capacity is expected to help manage intermittency from solar and wind power generation.
Improved storage will support grid stability during peak demand and variable supply conditions. Technical assistance and studies are also planned for pumped hydro power projects at Koyna, Panshet, Varasgaon, and other locations.
The total project cost stands at ₹12,303 crore, with around 70% or ₹8,616 crore proposed to be mobilised through a World Bank loan. Loan repayment responsibility will rest with Mahavitaran, Mahatrance, Mahagenco, and MREL.
The remaining 30% will be raised by the concerned power utilities. The state government will additionally provide ₹1,377 crore as phased equity support to Mahavitaran between 2026 and 2031.
Read More: India Likely to Become Second-Largest Solar Market.
The MAGESTIC scheme marks a significant step in Maharashtra’s clean energy transition. Its focus on renewable integration, grid strengthening, and energy storage addresses both demand growth and system reliability.
Implementation is scheduled from 2026 to 2031 under the supervision of a dedicated Energy Department cell. The programme is positioned to strengthen Maharashtra’s long‑term power infrastructure and energy security.
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Published on: May 4, 2026, 1:58 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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