The state Cabinet on Wednesday approved a new power plant for the energy-deficient state company Mahagenco at its existing Eklehare thermal power station in Nashik.
The new plant will have a 660-mega watt capacity and will operate on super critical technology. The plant will be operational six years from now.
The cabinet approved a budget of Rs 4,300 crore for the plant of which 80% would be raised through loans by Mahagenco, and the government will contribute 20% equity.
Among its new ventures, Mahagenco has so far completed expansion of Paras and Parli projects. An expanded unit of the Khaparkheda/ Koradi is expected to be operational soon.