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June 7, 2015

Essel Group forms JV to develop 5GW of solar power parks in Rajasthan, India

Essel Group has formed a 50:50 joint venture (JV) with the Indian state of Rajasthan, to develop solar parks with power generation capacity of 5GW.

Essel Group has formed a 50:50 joint venture (JV) with the Indian state of Rajasthan, to develop solar parks with power generation capacity of 5GW.

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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
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The solar developments are planned to set up in and around Bikaner and Jaisalmer in the Indian state. They are expected to cost approximately Rs40bn ($623m).

The JV is planned to be named ‘Essel Saurya Urja Company of Rajasthan (ESUCRL)’, reports Press Trust of India (PTI).

While the state government will provide the land for the solar developments, Essel Group will be responsible for implementation the entire project.

"Solar Park Project in Rajasthan will be India’s turnkey project in the renewable energy space."

Project scope for the Indian conglomerate will include financing, technical support, operation and maintenance, it said.

The news agency quoted Essel Infra and Utilities CEO Ashok Agarwalas saying: "Solar Park Project in Rajasthan will be India’s turnkey project in the renewable energy space, which will aid the clean energy initiatives of the government of Rajasthan."

Essel Group had recently signed a Memorandum of Understanding (MoU) with China-based JA Solar for developing a solar cell and module manufacturing firm in India.

The group is also setting up one of the largest solar plants in the country at Tamil Nadu.

The initiatives are in line with the Indian Government’s goal to develop 100 smart cities in the country.

Essel Group intends to transform major cities across India with more than $2bn of planned investment over the next three years.

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Free Report
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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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