Maharashtra drafts policy to tokenize power assets for infrastructure funding

State moves to tokenise power assets

Maharashtra, India’s wealthiest state, is preparing a policy that would place a portion of its electricity transmission network on a blockchain. The aim is to sell digital tokens that represent a share of the assets’ future income, using the money raised to build new power lines and energy‑storage facilities.

Key points

• The draft policy could allow investors to buy tokens linked to up to half of the state’s transmission lines.
• Token holders would receive a portion of the fees collected by Maharashtra Transco Company.
• The state is also drafting the “DELTA Act,” a law that would govern blockchain‑based property tokenisation in India.
• Real‑estate tokenisation firm RealX and MST Blockchain presented related initiatives at a private event in Mumbai.

Government plan

Praveen Pardeshi, chief economic advisor to the chief minister and CEO of the Maharashtra Institution for Transformation, outlined the proposal at a launch event hosted by RealX. He said the state’s transmission lines generate steady fee income, but the capital tied up in the infrastructure cannot be easily redeployed for new projects. Tokenising part of the network would free capital while keeping the assets under government control.

Industry context

At the same event, RealX and MST Blockchain introduced “REDbox” and “WHITEbox” projects designed to standardise tokenisation of real‑world assets in India. Liminal Custody, a digital‑asset custody provider, will supply secure wallets for the tokens.

What is confirmed

• Maharashtra is drafting a policy to tokenise state‑owned assets, focusing on electricity transmission.
• The proposal was presented by Praveen Pardeshi at a private Mumbai event on 11 September 2026.
• The state is also preparing the DELTA Act, which would be the first Indian law dedicated to blockchain‑based property tokenisation.
• RealX, MST Blockchain and Liminal Custody are involved in related tokenisation initiatives.

Open questions

• The exact percentage of assets to be tokenised and the technical design of the tokens have not been finalised.
• The DELTA Act is still in draft form and has not been enacted.

Why it matters

If successful, tokenisation could provide fresh funding for expanding the grid and adding solar‑energy storage, helping to close the price gap between peak‑time electricity purchases by distribution companies and cheaper surplus power on the exchange.

Next steps

The state will continue drafting the tokenisation policy and the DELTA Act. Further details are expected as the legislation moves toward approval.

Sources

• CoinDesk

Read also: India Launches Tokenization of $620 Billion Corporate Bond Market