Rajasthan Government Signs Preliminary Agreement with UAE for ₹3 Lakh Crore Investment in Renewable Energy.
Economy Business
The Rajasthan government has signed an initial agreement with the United Arab Emirates (UAE) for an investment of ₹3 lakh crore in the renewable energy sector in Rajasthan.
- The agreement was signed by Mohammad Hassan Al Suwaidi, UAE's Minister of Investment, and Ajitabh Sharma, Principal Secretary of the Industries Department of Rajasthan, in the presence of Rajasthan Chief Minister (CM) Bhajan Lal Sharma.
- The objective of this investment is to establish solar, wind, and hybrid projects with a combined capacity of 60 gigawatt (GW) in the western districts of Rajasthan.
Main Points:- (i) This partnership will play a crucial role in achieving the ambitious target of 500 GW of solar energy in the country. For this, Rajasthan will need to install solar plants with a capacity of 250 GW.
(ii) Rajasthan, which currently leads India in renewable energy production, has developed an action plan to strengthen its power system and meet the increasing electricity demand over the next 10 years.
Chief minister: Bhajan Lal Sharma
Governor: Haribhau Bagade
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