Vibrant Gujarat Summit witnesses Inking of MoUs worth over Rs 1 Lakh Cr in Renewables

In an endeavour to present further boost to the renewable space, the Memorandum of Understanding (MoUs) recommending investment of more than Rs 1 lakh crore were signed on the closing day of the Vibrant Gujarat Summit.

Furthermore, the Solar Energy Corporation of India (SECI) has inked an agreement with Gujarat Power Company (GPCL) for setting up 1,000 MW offshore wind power project at Pipavav worth Rs 15,000 crore.

Besides SECI, The Dholera SIR Development Authority (DSIRDA) has also signed a contract with GPCL for 1,000 MW solar power project with an approximate investment of Rs 5,000 crore. In addition, it has inked one more deal for 4,000 MW plant with SECI for an estimated investment of Rs 20,000 crore.

Further, Suzlon Energy has proposed an investment of Rs 25,000 crore for developing renewable energy hybrid projects in Kutch and Saurashtra. The officials additionalyl added that, Adani Green Energy proposed an investment worth Rs 30,000 crore for alike projects in Kutch.

Torrent Power has signed an agreement to invest Rs 5,325 crore for creating wind power generation capacity of 750 MW in Kutch. It also proposed investment of Rs 3,150 crore in power distribution network in Ahmedabad, Gandhinagar, and Surat. It also further that it will invest Rs 1,000 crore for power distribution network in Dholera.

As per the superior official, these projects were a part of Rs 10,000 crore investment commitment made by Sudhir Mehta, Chairman,Torrent Group at the opening session of Vibrant Gujarat Summit.