Rajasthan attracts investment of 2.75 lakh crore for renewable energy
Rajasthan attracts investment worth over 2.75 lakh crore that could lead to a total of 70,729 MW of renewable energy projects coming up in the state…
Rajasthan attracted 2.75 lakh crore investment for renewable energy development in the state.
For the development of solar wind and hybrid energy projects in the state, this large-scale investment was proposed by India’s top renewable energy developer Adani Group, Greenko, ReNew Power, and JSW Energy.
The investment will help Rajasthan fulfill its ambitions to achieve the top spot in the renewable energy space in competition with other states.
According to the available information, the Adani Group has proposed a total investment of over INR 46,000 crores for setting up a total of 11700 MW of solar and hybrid projects. On the other hand, JSW Group has proposed to set up 10000 MW of solar power projects in the state with a proposed total investment of INR 48,500 crore.
In addition, Renew Power has proposed an investment of INR 30,000 crores for 10,000 MW solar and hybrid projects and INR 30,000 crore investment has been proposed by Greenko for 4500 MW Solar and Hybrid projects development in the state.
These companies have also requested the state government to provide for customized packages, along with other measures including concession on local taxes, allotment of land, etc. to support the development of big renewable projects in the state.
In this regard, Subodh Agarwal, Chairman, and Managing Director, Rajasthan Renewable Energy Corporation Ltd informed that the application received for customized packages and other supportive measures will be placed before the Board of Investment under the chairmanship of the Chief Minister to access the suitability of the same.
Agarwal also threw light on the new solar parks coming up in Rajasthan, He informed media about the 3 solar parks that are being set up with a total capacity of 3,175 MW and are being spread across 7232 hectares of land. These solar parks are being developed on the PPP model.
Rajasthan is blessed with natural benefits to support renewable energy development – especially solar power as the state has the highest solar radiation at 5.72 kWh/sq meter per day and 325 sunny days. This provides a solar power potential of 142 GW, which accounts for around 19% of India’s total solar power potential capacity of 748 GW.
The state also counting on taking the advantage of the open interstate transmission scheme till 2021 that will enable developers to construct renewable projects in Rajasthan and supply electricity to other states.
