Anil Ambani-led Reliance Power announced Thursday it has signed a memorandum of understanding with the Rajasthan government to develop a 6,000 MW solar park in the state over the next 10 years.
Rajasthan Renewable Energy Corporation managing director B.K. Doshi and Reliance Power's senior executive vice president Suresh Nagarajan signed the MoU in the presence of Rajasthan Chief Minister Vasundhara Raje and Reliance Power chairman Anil Ambani.
"As per the MOU, an investment of around Rs 50,000 crore is likely to be made in next 10 years on the project and it is expected to provide direct and indirect employment to 20,000 people," said a Reliance Power spokesperson.
Raje, while speaking on the occasion, said that her government was working to create an investment-friendly environment.
"We are eyeing partnership with Reliance group in future as well," she said.
She said that the state plans to develop solar power production capacity of 25,000 MW. "Presently, we have prioritized private investment in cement and power sectors," she said.
More From This Section
Ambani said that the Reliance group had proposed to invest Rs.50,000 crore in solar power sector in the state.
"We are expecting a long-term partnership," he said.
The Reliance group would also develop power transmission network along with creating basic infrastructure in these solar energy parks.
Raje also dedicated Reliance Power's 100 MW Concentrated Solar Project (CSP) at Pokhran in Jaisalmer district, to the nation.
Rajasthan Sun Technique Energy, a wholly-owned subsidiary of Reliance Power, was awarded the CSP project in 2010 based on a international competitive bidding, the company said.
"The CSP plant is expected to generate about 250 million kilowatt hours of clean and green energy annually, equivalent to consumption of 230,000 households," the statement said.
Reliance Power has the largest portfolio of power projects in the private sector based on coal, gas, hydro and renewable energy with an operating portfolio of nearly 6,000 MW, it added.