Onix Renewable Ltd has initiated the development of a 1,959 MW solar power project as part of the Mukhyamantri Saur Krushi Vahini Yojana, a program spearheaded by the Maharashtra State Electricity Distribution Co. Ltd (MSEDCL). This large-scale initiative aims to strengthen rural electrification, reduce carbon emissions, and support agricultural productivity by supplying clean energy directly to the state’s power grid.
The project is being implemented through two dedicated special-purpose vehicles: NOPL Pace Green Energy, responsible for 990 MW, and NOPL Solar Projects, managing the remaining 969 MW. Land acquisition has been completed across most designated sites, and the project is advancing rapidly with plant design, engineering activities, and field mobilization already in progress. A substantial portion of EPC assignments and construction work is underway at various locations across Maharashtra.
Onix Renewable confirmed that all project phases are being carried out in full compliance with environmental and regulatory standards. The company emphasized its commitment to sustainable development and long-term operational viability, ensuring that the infrastructure not only meets current energy needs but also aligns with future clean energy goals.
Onix Renewable Ltd, founded in 2007 by Divyesh Savaliya, is a prominent player in India’s renewable energy sector. The company specializes in the development, construction, and maintenance of solar, wind, and hybrid energy solutions. With a robust track record of successfully implementing over 500 MW of projects, Onix Renewable has established itself as a leader in sustainable energy initiatives. The company offers comprehensive services, including project development, engineering, procurement, construction management, and operations and maintenance, ensuring end-to-end solutions for its clients.
In line with its ambitious growth plans, Onix Renewable announced in March 2025 its intention to invest approximately ₹25,000 crore over the next three years to develop 7 GW of renewable energy capacity and 5 GW of solar module and cell production. This initiative aims to expand the company’s renewable energy portfolio to 10 GW by 2030. To support these endeavors, Onix Renewable plans to raise ₹1,000 crore through an initial public offering (IPO) by October 2025, targeting a valuation of ₹10,000 crore. The funds will be utilized to finance equity investments in renewable energy projects and to expand solar module production capacity.
