After SJVN, THDCIL Signs Rs 40,000 Cr Investment LoI with Rajasthan Govt to Set Up 10 GW Renewable Energy Projects

Soon after the hydropower generator SJVN unveiled its plan to develop 10 GW solar projects in Rajasthan with about Rs 50,000 crore worth of investment, other state-run hydro projects developer THDC India Ltd (THDCIL) disclosed Rs 40,000 crore worth of investment plan for setting up of another 10 GW capacity of renewable energy projects in the state.

February 09, 2022. By Manu Tayal

Soon after the hydropower generator SJVN unveiled its plan to develop 10 GW solar projects in Rajasthan with about Rs 50,000 crore worth of investment, other state-run hydro projects developer THDC India Ltd (THDCIL) disclosed Rs 40,000 crore worth of investment plan for setting up of another 10 GW capacity of renewable energy projects in the state.

Thus, the two hydropower project developers, SJVN and THDCIL, have recently signed an aggregate 20 GW capacity of renewable energy projects in Rajasthan with an estimated combined investment of approx Rs 90,000 crore.

Moreover, to develop these 10 GW of renewable energy parks a special purpose vehicle (SPV) would be formed jointly by THDCIL and RRECL in the ratio of 74:26, as confirmed by sources.  

In this regard, J. Behera, Director (Finance) of Mini Ratna public sector undertaking THDCIL signed the Letter of Intent (LoI) and handed it over to the Additional Chief Secretary, Govt. of Rajasthan and Dr. Subodh Agarwal, CMD, Rajasthan Renewable Energy Corporation Ltd (RRECL) in Jaipur in the presence of Rajasthan Chief Minister and Minister for Industry, Revenue and Energy, Govt. of Rajasthan.

For setting up 10 GW of renewable energy parks/projects, the land bank would be allocated by the State Government through RRECL.

Through this agreement, THDC India Ltd is expected to generate around 10,000 direct and indirect employment opportunities during the peak time of construction, and would also help in boosting the local economy.

Further, these projects would be commissioned between the 3rd and 5th year in a phased manner.

THDCIL said that these mega ventures would usher in the socio-economic development of the project areas and also bring in cheap solar electricity in the region. This would also contribute towards the renewable energy capacity addition target of 500 GW by 2030 set out by the Government of India at COP 26.

After signing the LoI, J. Behera, Director (Finance), THDCIL, said “it is the beginning of our mutual relationship with the Government of Rajasthan as THDCIL is expanding its business operations in various parts of the country.”

During the event, Rajeev Vishnoi, Chairman and Managing Director, THDC India Ltd, through video conferencing, thanked the Department of Energy, Govt. of Rajasthan for their cooperation in expediting this investment proposal by THDCIL.

Presently, THDCIL has an installed capacity of 1,587 MW including 1,000 MW Tehri Dam & HPP; 400 MW Koteshwar HEP in Uttarakhand; wind power projects of 50 MW at Patan and 63 MW at Dwarka in Gujarat; 24 MW Dhukwan Small Hydro Project in Jhansi, Uttar Pradesh; and 50 MW solar power project at Kasaragod, Kerala among others.

Besides, the company is also implementing 2,000 MW Ultra Mega Solar Parks in the state of Uttar Pradesh with Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA).
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