State-run Tehri Hydro Development Corp. Ltd (THDC) and Rajasthan Renewable Energy Corp. Ltd (RRECL) have agreed to form a joint venture with a shareholding of 74:26, respectively, to set up 1.8 GW of renewable energy projects in Rajasthan. RRECL is the nodal agency for promoting and developing non-conventional energy sources in Rajasthan. It signed a joint venture cum share-holding agreement with THDCIL for RE development recently.
The JV will set up 10 GW of RE projects with an estimated investment of INR 40,000 crore ($4,883 million). The projects will provide employment to around 10,000 people. The JV will develop RE projects in different locations of Rajasthan, in a phased manner. In the first phase, it will build 2 GW of solar parks by 2025.
The JV partners also plan the development of floating solar and pumped hydro storage projects in the state.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.