Adani group has signed an agreement with the government of Rajasthan to set up a 10,000 MW solar park, which will emerge as the largest such integrated facility in India, a statement on behalf of the group said.
The JV will be known as Adani Renewable Energy Park Rajasthan Ltd, will have a 50-50 equity partnership between the Rajasthan government and Adani Renewable Energy Park Ltd, a subsidiary of Adani Enterprises.
Adani group will directly create a capacity of 5,000 MW within the park, with the remaining coming from third parties and investors.
“The proposed park is expected to attract investments over Rs 60,000 crore and it will include generation projects and a massive manufacturing unit for solar module, parts and equipment,” it said.
“This project will be India’s largest solar park and will also house manufacturing facilities to be set up under the country’s ambitious Make In India initiative. We have embarked upon a mission of becoming a world leader in renewable power generation technologies, with a special focus on solar. The development of Solar Park facility is our contribution towards realization of our Honorable Prime Minister’s campaign and commitment towards clean and green energy in India,” said Mr Gautam Adani, Chairman, Adani Group.
Rajasthan is seen as the state with the largest potential for generating solar power. It is estimated that covering just a tiny portion of the desert in the state will generate enough power to meet all of India’s requirements.
Government of Rajasthan is keen to enhance the solar power generation capacity in the state and has committed to achieve 25,000 MW capacity by 2022, Adani group said.
“The formation of JV with Adani Group is a step towards achieving it.”
Rajasthan Government shall provide land for the Solar Park and also facilitate power evacuation infrastructure.
The Indian government has announced to set up 100,000 MW of solar capacity by 2022. They have also issued guidelines for setting at least 25 solar parks each with a capacity of 500 MW and above across India.
Adani Power is India’s largest private thermal power generating company in private sector in India with an installed base of 10,480 MW. Apart from coal based power generation, Adani group also operates a 40 MW Solar PV Plant at Kutch, Gujarat.