Shares of Lodha Developers Ltd rose 2% in early trade today after the company announced that it has signed a Memorandum of Understanding (MoU) worth ₹30,000 crore with the Government of Maharashtra. The agreement is for the development of a Green Integrated Data Centre Park at Palava in the Mumbai Metropolitan Region.
The upcoming project will be developed with a planned capacity of 2 gigawatts (GW) and is expected to attract multiple domestic and international data centre operators. Lodha Developers will act as the primary developer, while the initiative is expected to generate nearly 6,000 direct and indirect jobs.
This MoU aligns with the Maharashtra Green Integrated Data Centre Parks Policy, introduced in October 2024, which requires data centres—significant consumers of electricity—to operate on renewable and alternative energy sources.
The state government had identified Integrated Data Centres as a key focus area for industrial growth back in 2019. With surging demand from cloud computing, artificial intelligence (AI), and digital services, Maharashtra is now targeting the establishment of three such parks across the region.
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