Adani Enterprises ltd on Monday signed a pact with the Rajasthan Government to develop the country’s largest solar park in the state with 10,000 MW capacity over the next 10 years at an estimated investment of about Rs40,000 crore. The company will set up solar power project of 5000 MW on its own in the next five years. The Adani Group will also develop solar manufacturing units and power evacuation systems.
An investment of Rs40,000 crore has been proposed in the state for the projects, according to an official statement. Rajasthan Renewable Energy Corporation (RREC) Managing Director BK Dosi and Adani’s power business CEO Vneet S Jain signed the memorandum of understanding. The MoU was signed in the presence of the Rajasthan Chief Minister Vasundhara Raje and Adani Enterprises MD Rajesh Adani, said the statement.
The company release said: “Adani Enterprises... And Government of Rajasthan have signed a MoU to jointly set up India’s largest solar park of 10,000 MW in Rajasthan.” The flagship company of the Gautam Adani-led Adani Group will form a joint venture (JV) to set up the solar park, which would include generation projects and a manufacturing unit for solar module, parts and equipment. Sources said while the Rajasthan government would provide the required land for the project as part of its equity, the entire investment would be made by Adani Enterprises.