Rajasthan to Focus On Renewable Energy Projects for Special Package Under IPS 

In a meeting held under the chairmanship of Chief Secretary Niranjan Arya, six renewable energy projects in Rajasthan have been recommended for consideration of a special package under the state’s investment promotion scheme (IPS).

According to the sources from meeting, the proposals are from varied sectors like energy, textile, and manufacturing assuring to generate over 30,000 job opportunities in the state. It will open doors to the investment of Rs 1.18 lakh crore in the state.

Earlier, a Board of Investment under the chairmanship of Chief Minister Ashok Gehlot has been constituted under the provisions of the Rajasthan Enterprises Single Window Enabling and Clearance (Amendment) Act, 2020. It was the first SEC meeting since the constitution of the Board of Investment. These proposals shall now be submitted for final decision before the newly constituted Board of Investment under the chairmanship of the chief minister.

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The investors have expressed confidence in the investment opportunities in the state and policies of the state government, the statement said.

The proposals recommended in the 33rd SEC meeting also present possibilities for the emergence of new opportunities and more sustainable development in the state, and also mark a point that renewable energy is one of the booming sectors in the state.

These proposals in the renewable energy sector included a 10 GW solar power project intending an investment of Rs 48,540 crore and a 10 GW solar-wind hybrid renewable energy project with a proposed investment of Rs 40,000 crore.

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They also include an integrated renewable energy storage project to be developed with an investment of Rs 30,000 crore, which will come in a phased manner in the coming years.

Earlier this month, the Solar Energy Corporation of India (SECI) has informed that it intends to procure solar power for an aggregate capacity of 1785 MW on behalf of the Discoms of Rajasthan. In line with which the nodal agency will soon be issuing a tender for the development of 1.785 GW solar projects in the state, for which it will sign a 25-year Power Purchase Agreement with the successful bidders or developers.