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Rajasthan signs pacts for over 90 GW of renewable energy projects

The Indian State of Rajasthan has signed pacts with major public-sector and private-sector companies for investments worth over INR 3,05,000 crore to build over 90 GW of renewable energy capacity in the State.

Companies committing the investments included state-owned power producers THDC IndiaNTPCNHPC, and SJVN (10 GW each); Solar Energy Corporation of India (2 GW); and private-sector Reliance (20 GW), Axis Energy Group (28 GW of solar projects and 4 GW solar module manufacturing facility), and Sukhbir Agro Group (2 GW RE and 100 MW biomass). 

THDCIL has signed the letter of intent to build 10 GW of solar power projects with an INR 40,000 crore investment in the Indian State of Rajasthan. It will form a special purpose vehicle as a 74:26 joint venture with Rajasthan Renewable Energy Corporation Limited (RRECL) to implement the projects. 

The land bank will be allocated by the Government of Rajasthan through RRECL. 

THDC expects its investment in the Rajasthan energy sector to create around 10,000 direct and indirect employment opportunities during the peak time of construction, which will boost the local economy.

“The project shall be commissioned between the third and fifth year in a phased manner. These mega ventures by THDCIL and RRECL will usher in the socio-economic development of the project areas and also bring in cheap solar electricity in the region. This will also contribute towards the RE capacity addition target of 500 gigawatts (GW) by 2030,” read THDCIL statement.

News Date: 11-Feb-2022

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