Maharashtra Wants to Tokenize the Power Grid for New Infrastructure
Maharashtra sees tokenization as a way to unlock capital from the power grid, with proceeds going toward new high-voltage lines and energy storage. RWA standards and real estate tokenization are also on the agenda.
Key Takeaways
- Maharashtra is working on a policy to put state assets on blockchain, possibly starting with tokenizing electricity infrastructure.
- Proceeds from tokenized transmission networks would help fund new high-voltage lines and energy storage for solar power.
- The state is also developing separate legislation for real estate tokenization and does not see tokenization as full privatization.
The Indian state of Maharashtra is working on a policy to put its own assets on blockchain, with tokenization of electricity infrastructure as a possible first step. The proceeds could then be used for new high-voltage lines and energy storage, Praveen Pardeshi, head of MITRA, said during an event in Mumbai.
Power Grid as Collateral
Pardeshi mainly outlined how the state’s transmission networks could be used to attract new capital. According to him, the lines now generate steady income from moving power, but the money tied up in building them remains largely locked away. He said that is a problem in a state that produces a lot of solar power, but does not always have enough grid capacity to move that electricity at the right time.
He said the whole network does not need to be tokenized. A portion, for example 40% or 50%, could already be enough to give investors part of the revenue while also freeing up money for new projects. In his words, that could help build more transmission lines and extra storage for solar power.
Broader Tokenization Policy
The plans fit into a broader move in Maharashtra around tokenization of real-world assets. At the same event, RealX and MST Blockchain presented the REDbox and WHITEbox initiatives, which are meant to streamline local standards for RWA tokenization. Liminal Custody was also involved as a partner for custody and wallet infrastructure.
The state is also already working on separate legislation for blockchain-based tokenization of real estate. In July, chief minister Devendra Fadnavis ordered the Maharashtra Digitisation and Exchange of Land Token Assets Act, or DELTA Act, to be developed. That law has not been passed yet.
Why This Matters
For European crypto readers, the interesting part is that this is not just about real estate or bonds, but about a public utility network. It shows that tokenization in India is being pushed further into infrastructure that is directly tied to energy supply and public financing. The trend is also growing in the financial sector: the tokenization of corporate bonds shows that India is already experimenting with regulated onchain markets on multiple fronts.
Pardeshi did stress that, according to the state, tokenization is not the same as full privatization. In his view, it is about spreading capital across more holders while the underlying assets remain in government hands. He called it a way to let more citizens take part in funding public projects.
