Rajasthan, Andhra Get Major Solar Investment Commitments

The Renewal Energy Conclave in Jaipur has proved worthwhile for Rajasthan. Organised under the aegis of RRECL and Rajasthan State Electricity Broadcasting Corporation Limited, the conclave saw signing of MoUs of about Rs 87,000 crore which will generate about 84000 jobs in the state in the RE sector.

The commitments were inked in the presence of Chief Minister Ashok Gehlot who said that Rajasthan was top among the states in renewable energy owing to the investment friendly policies of his government.

The Rajasthan CM held that presently solar, wind energy, hybrid plant and green hydrogen projects are in full swing in Rajasthan. The state has led in the past two years in terms of fresh capacity added in the sector.

In the South meanwhile, Andhra Pradesh has got a 5-GW Commitment From Avaada Energy for investment into renewable energy. The Andhra Pradesh government on Saturday said it signed 352 memoranda of understanding (MoUs) worth an investment of Rs 13.05 lakh crore during the two-day Global Investors Summit being held in Visakhapatnam. The energy sector saw 40 MoUs worth Rs 8,84,823 crore that can generate nearly 2 lakh jobs.

Avaada Group is mulling an integrated renewable energy project that will produce 5,000 MW energy in Andhra Pradesh that will help generate jobs for 7,300 persons in the state.

The Avaada Group signed an MoU at the Andhra Pradesh Investors Summit committing Rs 50,000 crores for the integrated RE project comprising solar, wind and pumped storage hydropower projects. The renewable projects will come up in Coastal Andhra and Rayalaseema region.

Earlier, Uttar Pradesh had received its largest share of commitments in the renewable energy sector at its own investor summit, making it clear that for investors in India, the renewable sector remains one of the safest bets to make.