Under the terms of the MoU, signed at Resurgent Rajasthan Summit in Jaipur, Rajasthan, the company plans to partner with Rajasthan Renewable Energy, which will provide infrastructure to potential solar developers.
About Rs600bn ($9bn) is planned to be invested for the development of the projects spread across an area of nearly 30,000 acres, over next six years, in Rajasthan.
Reliance Group chairman Anil Ambani said: "We have selected Rajasthan as our Solar growth centre in India."
About Rs70bn ($1bn) has already been invested by Reliance Group in Rajasthan in sectors including solar power generation, telecom, roads, financial services and entertainment.
In June, Adani Renewable Energy Park, a unit of Adani Enterprises, has signed a 50/50 joint venture (JV) deal with the Rajasthan Government to develop 10,000MW solar park by 2022.
The deal follows an agreement signed by Indian conglomerate Essel Group with the Rajasthan Government to develop 5GW solar power project in the region.
The India Government has issued guidelines for at least 25 solar parks, each with a capacity of 500MW, as part of its plan to have 100,000MW installed solar capacity by 2022.
As part of this effort, the Rajasthan Government plans to have 25,000MW installed solar power generation capacity by 2022.
Image: India plans to have 100GW of installed solar capacity by 2022. Photo: courtesy of graur codrin/ FreeDigitalPhotos.net.
