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.
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