RRECL, THDC ink MoU for setting up solar park worth 10,000 MW in Rajasthan
Rajasthan Renewable Energy Corporation Ltd (RRECL) and Tehri Hydro Development Corporation (THDC) have announced that they have signed an agreement to set up to develop five solar parks of 2,000 MW capacity each in Rajasthan.
These five solar parks collectively termed Ultra Mega Renewable Energy Power Park (UMREPP) will be developed in different cities, said authorities. While the names of these cities haven't been disclosed, a source privy to the development said the proposed solar parks could come up in Churu, Bikaner, Jaisalmer, Nagaur, and Pali.
According to the MoU signed between the two PSUs in Rishikesh, the solar project pegged to be India's biggest would entail an esteemed investment of Rs 40,000 crore. The development comes two months after the letter of intent for the project was inked between the two enterprises.
Divulging further details, Sanjay Kher, THDC general manager, hybrid energy business, said, "The project will be completed in phases by 2027. It is expected to generate more than 10,000 jobs."
As per the contract, THDC will set up a special purpose vehicle as a joint venture firm with RRECL for the execution of the project. Rajasthan's additional chief secretary Subodh Agrawal, who was present during the signing of the agreement, said, "This is a landmark initiative in the field of renewable energy. Rajasthan will provide all possible support and cooperation for it."
Speaking on the occasion, RK Vishnoi, chairman & managing director, THDC, said, "Once commissioned, the solar power project will yield an annual revenue of about Rs 12,000 crore. This would help the country achieve 500 GW of non-fossil fuel capacity by 2030 the target set by Prime Minister Narendra Modi."
Meanwhile, Sunit Mathur, RRECL director, said the UMREPP project will boost Rajasthan's local economy and contribute to the state's socio-economic development. Notably, Rajasthan already has the world's largest solar power park Bhadla Solar Park which spans 14,000 acres. It has an operational capacity of 2,245 MW.