The government today said it had acquired 2,000 hectares to develop a special economic zone (SEZ) for renewable energy in Nagpur, which would become operational within 2-3 years.
“Two thousand hectares of land has been acquired for the renewable energy SEZ in Maharashtra and it would become operational in 2-3 years’ time,” Union Minister for New and Renewable Energy Vilas Muttemwar told reporters here.
This SEZ is being developed by the Maharashtra Industrial Development Corporation (MIDC) and Indian Renewable Energy Development Agency (Ireda).
A European firm is understood to have committed investment worth 3.71 billion euros (Rs 22,000 crore) in the SEZ.
The government is focusing on non-conventional energy sources, including wind and solar power. Various tax benefits have been given for investments in the renewable energy area.
India has emerged as a major supplier of equipment for wind power, led by Pune-based Suzlon Energy.
