Leading Japanese Energy Firm Interested in Investment in Maharashtra

25 Aug, 2023

Leading Japanese Energy Firm Interested in Investment in Maharashtra

During his visit to Japan, Maharashtra Deputy Chief Minister Devendra Fadnavis announced that JERA Co Inc, Japan's largest power generation company, has shown keen interest in collaborating and investing with the state government. The focus areas for potential partnership include green hydrogen, ammonia production, renewable energy initiatives, and liquefied natural gas (LNG) ventures.

While in Japan, Deputy CM Fadnavis revealed that Dr. Masafumi Mori, a special advisor to the Japanese Prime Minister, extended his government's backing for the ambitious Versova-Virar Sea Link (VVSL) project in the Mumbai region. The Maharashtra delegation also presented the state's pioneering green hydrogen policy, which has garnered significant attention as the first of its kind in India.

JERA officials conveyed their strong desire to collaborate on investments with the Maharashtra government, aligning with their corporate goal of achieving zero CO2 emissions by 2050. This step also contributes to Maharashtra's and India's larger target of reaching net-zero emissions by 2070.

During a meeting in Tokyo, Deputy CM Fadnavis and state officials engaged with JERA's senior management team. JERA, formed by the consolidation of Tokyo Electric Power Company and Chubu Electric Power Company's fuel and thermal power divisions, holds substantial assets valued at JPY 8.7 trillion (USD 60 billion). As the leading power generator in Japan, it boasts an installed capacity exceeding 70 GW.

Dr. Mori, the special advisor to the Japanese PM, expressed support for the VVSL project and Mumbai Flood Mitigation Project, impressed by the scale and vision of Maharashtra's initiatives. The Japanese government also pledged assistance for the Mumbai Metro Line 11 project.

Deputy CM Fadnavis additionally met with top officials of NTT Data, a major digital consulting and IT services provider. NTT Data is already invested significantly in Maharashtra, with plans to double their investment to approximately USD 2 billion. This expansion encompasses data centers, renewable energy infrastructure, submarine cables, and delivery centers.