Tata Power Renewable Energy Ltd has signed a ₹70,000 crore Memorandum of Understanding (MoU) with the Gujarat government on Thursday for setting up 10,000 MW of hybrid renewable energy projects in the State. This is the biggest MoU signed by a private entity in the renewable energy sector during the second day of 10th Vibrant Gujarat summit.

The projects will be set up at Dholera in Ahmedabad, Khavda in Kutch and Banaskantha. The proposed investments for solar, wind and other hybrid projects are spread over a period of five years starting from 2024-25. The projects promise to generate employment for 3,000 persons, official sources told businessline. This proposed investment by Tata Power Renewable Energy is part of the ₹1.5-lakh crore worth of MoUs for the renewable sector on Thursday.

The Solar Energy Corporation of India (SECI) has also signed two MoUs with Gujarat Urja Vikas Nigam Ltd (GUVNL) for 500 MW of power based on Solar Thermal Technology in Kutch and an additional 700 MW of Solar PV Project in Banaskantha district.

Serentica Renewables India Pvt Ltd proposed to invest ₹35,000 crore in setting up 6,000 MW of hybrid renewable projects at multiple locations including Jam Khambhaliya, Khavda, Bhuj and Banaskantha. The Gujarat State Electricity Corporation Ltd has signed a ₹20,000 crore MOU for developing 6,675 MW of solar projects at multiple locations in the state between 2025 and 2027. Similarly, Solairdirect Energy India Pvt Ltd has signed a ₹17,200 crore agreement to develop a 2.3 GW renewable energy project.

Apart from these firms, Opera Energy Pvt Ltd has signed an MoU for setting up ₹5000 cr worth of renewable energy projects, while Grew Energy Pvt Ltd has signed an MoU for ₹3800 crore worth projects at Dholera. All these projects are expected to be commissioned by 2026.