Thermax, an energy and environment solutions provider, will set up a geothermal power plant in the Konkan region of the Indian state of Maharashtra.

The company is expected to sign a Memorandum of Understanding (MoU) in this regard with the Maharashtra Energy Development Authority (MEDA).

Under the MoU, Thermax will have to pay royalty to MEDA and also give 10% of the power generated by the facility to the state’s power utility Mahadiscom.

Thermax will fund the project, while the state government will act as a facilitator and provide land.