New Delhi: SJVN Ltd on Wednesday said the Rajasthan government has approved signing an MoU with the company for developing 10,000 MW renewable energy projects in the state entailing an investment of Rs 50,000 crore.
These projects/parks will usher in socio-economic development in the state and will open up multiple direct and indirect employment opportunities.
SJVN’s Chairman & Managing Director (CMD) Nand Lal Sharma said the company will establish the renewable energy projects on the land banks to be allocated by Rajasthan Renewable Energy Corporation Ltd.
An investment of Rs 50,000 crore is estimated for developing these projects in the next five to seven years, he said.
“With this latest addition, the portfolio of the company has tremendously grown from 32,000 MW to 42,000 MW. We are partnering in meeting the twin challenges of ‘Power to All’ and 50 percent energy from non-fossil fuel-based energy resources by 2030 as envisaged by the government,” Sharma added.
Earlier this year, SJVN had exchanged a Letter of Intention (LoI) for the development of renewable energy in the state in next five years. Recently, Rajasthan became the first state in India to reach 10 GW cumulative large-scale solar installations.
This exponential addition in the portfolio will catapult SJVN closer to achieving the shared vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW by 2040.
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