New Delhi, Jan 28 (PTI) Maharashtra's New Renewable Energy Policy will attract Rs 75,000-crore investments, said the state's Power and New & Renewable Energy Minister Nitin Raut on Thursday.

"Nitin Raut, Minister for Power and New & Renewable Energy, Government of Maharashtra, today while highlighting the Maharashtra's New Renewable Energy Policy said that the policy aims to promote public and private sector participation and will attract an investment of Rs 75,000 crore in power and allied sectors," FICCI said in a statement on Thursday.

Addressing an interactive session with the CEOs of renewable energy and power companies organised by FICCI, Raut said the policy aims to implement 17,000 MW of renewable power projects in the next 5 years.

It is expected to create direct and indirect employment for one lakh people, along with giving priority to hybrid power projects.

"In line with the Paris Agreement, the Government of Maharashtra is committed to achieving 40 per cent electricity generation from renewable energy sources by 2030," Raut added, as per the statement.

Maharashtra Principal Secretary (Energy) Asim Gupta addressed various concerns of the industry related to payment security, transmission, hybrid policy, open access, rooftop solar, and tenders for greenfield renewable energy projects, phasing out old inefficient plants.

He said the government is open to suggestions and looks forward to collectively work with the industry for the betterment of the sectors.

Ranjit Gupta, chair of FICCI Renewable Energy CEOs Council and CEO of Azure Power, said Maharashtra is a key state of interest for the renewable energy players, and its new renewable energy policy is a welcome move for the industry.

Maharashtra has been leading in terms of renewable energy deployment with push on electric mobility where RE deployment will have greater potential in future. The industrial and commercial segments with strong base in Maharashtra will have great potential for offtake of RE.

The roundtable was attended by leading industry stakeholders from power and renewable energy sectors such as Azure Power, RP-Sanjiv Goenka Group, Adani Electricity Mumbai Ltd, AMP Energy India, and Amplus Energy Solutions.

Avaada Energy, BSES Rajdhani Pvt Ltd, Enel Green Power, Jindal Power Limited, O2 Power, Power Exchange India Ltd, Rattan India, SB Energy, Sembcorp Green Infra Ltd, Senvion, Sindicatum, Sukhbir Agro Energy Ltd, and Vikram Solar and Waaree also participated in the roundtable. HRS hrs

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