Diversified business conglomerate, Adani Group, on Monday announced signing of a joint venture agreement with the government of Rajasthan to set up a 10,000 MW solar park, which will emerge as the largest such integrated facility in India.
Billionaire Gautam Adani-led infrastructure major has set a target of 10,000 mega watts (MW) of solar power by 2022.
The 50:50 joint venture will be known as Adani Renewable Energy Park Rajasthan Ltd, with equal equity partnership between the Rajasthan government and Adani Renewable Energy Park Ltd, a subsidiary of Adani Enterprises Ltd.
"The proposed park is expected to attract investments over Rs 60,000 crore and it will include generation projects and a massive manufacturing unit for solar module, parts and equipment. Adani itself plans to generate 5,000 MW in this solar park," an official statement said here.
"This project will be India’s largest solar park and will also house manufacturing facilities to be set up under the country’s ambitious Make In India initiative. We have embarked upon a mission of becoming a world leader in renewable power generation technologies, with a special focus on solar. The development of Solar Park facility is our contribution towards realisation of our Prime Minister’s campaign and commitment towards clean and green energy in India.” said Gautam Adani, Chairman, Adani Group.
The Rajasthan Government has committed to achieve 25,000 MW capacity by 2022.
The State Government shall provide land for the Solar Park and also facilitate power evacuation infrastructure.
The Indian government has announced to set up 100,000 MW of solar capacity by 2022.
Adani Group operates a 40 MW Solar PV Plant at Kutch, Gujarat