Adani Enterprises (AEL), the flagship company under the Adani Group, has signed a memorandum of understanding (MoU) with the Government of Rajasthan, a state in India, for the development of a 10,000MW solar park.
Rajasthan Renewable Energy Corporation (RREC) will form a joint venture (JV) with AEL for the solar park construction.
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The park will house generation projects and a single manufacturing unit for solar modules, parts, and equipment.
The project will be developed over the next ten years. It is expected to involve an investment of Rs400bn ($6.4bn), reports The Economic Times.
Adani Group chairman Gautam Adani was quoted by the publication as saying: "India has embarked upon an ambitious programme of becoming a world leader in renewable power generation, with a special focus on solar.
"The development of a solar park facility is our contribution towards realisation of our honourable prime minister’s campaign and commitment towards clean and green energy in India."
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By GlobalDataOnce operational, the park is likely to generate approximately 16,644 million units of renewable energy, and could bring down carbon emission by nearly 16.2MT.
India plans to set up multiple solar projects in the country in an effort to drive the solar capacity by 2022. The central government is aiming for a 100,000MW generation by this time. It has issued guidelines for 25 solar parks at the minimum, each having a capacity of around 500MW.
Earlier in the year, AEL signed another MoU with US-based SunEdison for setting up an integrated solar photovoltaic manufacturing plant at Mundra in the Indian state of Gujarat.
Image: AEL to form JV with RREC for 10,000MW solar park construction. Photo: courtesy of franky242 / Freedigitalphotos.net.
