Six Additional Renewable Energy Projects in Rajasthan Courtesy of the IPS

Chief Secretary Niranjan Arya chaired a meeting on Rajasthan’s focus on renewable energy projects. The meeting saw the recommendation for Rajasthan to be considered for a special package. Therefore, the area would have six renewable energy projects under the country’s Investment Promotion Scheme (IPS). The proposals are from various sectors, including manufacturing, textile, and energy. That is an opportunity to invest approximately Rs 1.18 lakh crores and up to 30,000 additional job opportunities.

Not long ago, there was the constitution of the Board of Investment per the Rajasthan Enterprises Single Window Enabling and Clearance (Amendment) Act, 2020. The board is under the leadership of Chief Minister Ashok Gehlot. Ever since the board was formed, it was the first SEC meeting. The new Board of Investment will scrutinize all proposals, and the members have the final say regarding the proposals’ fate. The chief minister, Ashok Gehlot, will continue chairing this decision-making board of investment throughout this process.

According to investors, they are confident with government policies and the investment opportunities in the state. During the 33rd SEC meetings, a few things became clear. One of them is that the state is now indulging in sustainable developments. Others are the high chances of new opportunities coming up and, equally important, the realization of how the renewable energy sector is snowballing.

Some of the proposals revolve around renewable energy. One of them is a solar power project worth Rs 48,540 crore with a capacity of 10 GW. The other project will require Rs 40,000 crore, will mean another additional 10 GW energy capacity, and will be a combination of solar and wind energy. It is important to note a proposed integrated renewable energy storage project. According to the budget, it will cost up to Rs 30,000 crore. It will be developed in phases over the next years.

At the beginning of this month, the Solar Energy Corporation of India (SECI) made an interesting announcement. It is in the process of procuring solar energy for the Discoms of Rajasthan. The power capacity should be 1785 MW. Following the rules and regulations, the Solar Energy Corporation of India will start the tendering process. Just like in most cases, it will issue a tender, interested parties will bid, and the best will be selected. The requirement of the tender will be developing solar projects across the state amounting to up to 1.785 GW.  The winner of this tender will enter into a 25-year Power Purchase Agreement with SECI. The additional renewable energy projects will be beneficial to Rajasthan, no doubt.

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