Aurangabad bags Rs 12000 crore investment from Davos

-Greenko, a leading company in renewable energy signs MoU to invest in Aurangabad

-Will provide employment to 6300 people, might become an anchor project for Auric

-Production of Liger X and Liger X in Aurangabad

VAIBHAV PARWAT

Aurangabad: Greenko, a leading company in renewable energy, will invest Rs 12000 crore in Aurangabad for a renewable energy plant. The project will create employment for nearly 6300 people. A Memorandum of Understanding (MoU) was signed in the presence of Chief Minister Eknath Shinde on the first day of the World Economic Forum being held in Davos, Switzerland on Tuesday.

Greenko Group is a leading renewable energy company with an operational portfolio of 7.2 GW and a pipeline of 15 GW of wind, solar, hydro, and energy storage assets spread across 15 states in India. Headquartered in Hyderabad, Greenko is leading the digitization, decarbonization and decentralization of the Indian energy market by providing utility-scale, clean and affordable energy to meet the country's long-term energy security needs. It is also India’s first dispatchable renewables company. Greenko today produces 1 to 1.5 per cent of India’s total energy production. The company has recently planned to invest Rs 11,790 crores in Belagavi for an Integrated Renewable Energy.

Awaiting further details

Giving more information, Delhi-Mumbai Industrial Corridor managing director Suresh Kakani said that Greenko has signed an MoU with Government of Maharashtra to invest Rs 12000 crore in Aurangabad. However, the further details have not been released. The investment can be made anywhere in Aurangabad, likely in Auric or it can also be in Sillod. The details will be revealed in the next two to three days.

Much awaited anchor project

Auric has been waiting for an anchor project since the miss out on Kia Motors that was going to invest Rs 25000 crore in Aurangabad. Greenko’s Rs 12000 investment in Shendra or Bidkin phase of Auric has the possibility to become the much needed anchor project for DMIC.

Production of Liger X and Liger X in Aurangabad

A Mumbai-based startup, Liger Mobility, recently unveiled the Liger X and Liger X scooters, which are claimed to be the world’s first auto-balancing e-scooters. This means that the scooters can come to a standstill and remain self-balanced without any support from the rider. Production for the Liger X and the Liger X is expected to go underway by the end of 2023 at the company’s plant in Aurangabad. “We are looking at a capacity of 20,000 auto-balancing vehicles in the first year, which will be ramped up to a capacity of 100,000 units annually in the subsequent two years, " said Vikas Poddar, co-founder, Liger Mobility.

Push from CMIA

Taking to AurangabadFirst, CMIA president Nitin Gupta said CMIA has been making efforts to bring investment in Auric. The Rs 12000 crore investment of Greenco will introduce the city to the renewable energy sector. It will create several vendor companies in the renewable energy sector. Likewise, the team on Tuesday met Aether Energy founder Tarun Mehta and co-founder Swapnil Jain to discuss their proposed investment in Auric.

Details awaited for Aether energy

Aether Energy, a leading electric bike manufacturing company in India, showed its readiness to invest in Auric. However, no MoU was signed by the company in Davos on the first day. According to highly placed sources, the company will be signing a MoU in the next few days.