Vibrant Gujarat: MoUs worth over Rs 1 Lakh Cr Inked in Renewables

Post completion, this is expected to create over 10,000 jobs by 2020 and 2021, said officials.

In an effort to provide further boost to the renewable space, the Memorandum of Understanding (MoUs) proposing investment of more than Rs 1 lakh crore were inked on the final day of the Vibrant Gujarat Summit (VGS).

Vibrant Gujarat

Post completion, this is expected to create over 10,000 jobs by 2020 and 2021, said officials.

Moreover, the Solar Energy Corporation of India (SECI) has signed a pact 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 inked a pact with GPCL for 1,000 MW solar power project with an estimated investment of Rs 5,000 crore.

Additionally, it has inked another deal for 4,000 MW plant with SECI for an approximate investment of Rs 20,000 crore.

Further, wind energy giant Suzlon Energy has proposed an investment of Rs 25,000 crore for developing renewable energy hybrid projects in Kutch and Saurashtra.

The officials further added that, Adani Green Energy proposed an investment worth Rs 30,000 crore for similar 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 added that it will invest Rs 1,000 crore for power distribution network in Dholera.

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

Source: DNA

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Manu Tayal

Manu is an Associate Editor at Saur Energy International where she writes and edits clean & green energy news, featured articles and interview industry veterans with a special focus on solar, wind and financial segments.