In Rishikesh, Tehri Hydro Development Corporation Limited (THDC) and Renewable Energy Corporation Limited (RECL) signed an agreement for the development of huge solar power plants in Rajasthan with a combined capacity of 10,000 MW (10 GW).
Rajasthan has been actively catching up in new solar power as well as planned capacity in recent months, thanks to one of India’s highest solar irradiance. RECL is a public sector undertaking of the Rajasthan government, while THDC is a subsidiary of NTPC Limited.
In February 2022, THDC India Limited (THDCIL) announced an estimated investment of Rs.40,000 crores in setting up Renewable Energy Parks / 10,000 MW Projects in the presence of the Minister of Rajasthan and Minister of Industry, Revenue, and Energy, Government of Rajasthan Head of Government of Rajasthan. A 10 GW Letter of Intent (LoI) was signed.
Also Read: THDC India Has Signed A Letter Of Intent to Build 10 GW (10,000 MW) of Solar Power in Rajasthan
The agreement calls for the construction of five solar parks, each with a capacity of 2000 MW, in five separate cities across Rajasthan. Although the deal does not specify the particular locations, reports claim that solar projects will be built in Churu, Nagpur, Pali, Bikaner, and Jaisalmer.
“Once commissioned, the solar power project will provide an annual revenue of Rs 12,000 crore,” said RK Vishnoi, Chairman and Managing Director of THDC. This would assist India to reach Prime Minister Narendra Modi’s objective of 500 GW of non-fossil fuel capacity by 2030.
Five solar projects would receive the largest investment of Rs 40,000 crore, and the two PSUs will form a joint venture for the electricity projects using a special purpose vehicle (SPV). “The projects would be completed in phases by 2027,” said Sanjay Kher, General Manager, THDC’s Hybrid Energy Business.
“This is a watershed moment in the realm of renewable energy.” Rajasthan will provide all necessary assistance and cooperation,” stated Subodh Agarwal, Rajasthan’s Additional Chief Secretary. According to RECL, the five huge solar projects will strengthen the state’s local economy and promote socio-economic growth.
In the presence of Chief Minister Ashok Gehlot, THDC signed a letter of intent (LoI) with the Rajasthan government in February. The state government is expected to supply the necessary land for the solar projects, which will result in the creation of 10,000 jobs both directly and indirectly.
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Resource: Times of India
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