NHPC Signs MoU with Government of Rajasthan for Rs 50,000 Cr Renewable Energy Projects

New Delhi: The Government of Rajasthan signed a Memorandum of Understanding (MoU) with NHPC, an Indian hydropower generation company, on September 30, 2024. This MoU will result in a significant investment in renewable energy projects in Rajasthan.

Under the MoU, the Rajasthan government will facilitate the necessary permissions and clearances from relevant departments as per the existing policy, rules, and regulations of the state government.

 As per NHPC’s announcement, the MoU includes plans for the “Development of Pumped Storage Projects, Renewable Energy (Solar/ Floating Solar/ Wind) Projects, and Battery Energy Storage System in the State of Rajasthan”. The estimated investment for these initiatives is around Rs 50,000 crores.

This MoU comes in the wake of a series of similar agreements between the Rajasthan government and other major power companies.

Earlier the same day, the Rajasthan government had signed an MoU with NTPC Green Energy for the development of 25 gigawatts of Renewable Energy Projects.

Additionally, an MoU was also signed with Tata Power Company for an investment of approximately Rs 1.2 lakh crores in power distribution, transmission, and renewable energy project

 NHPC announced plans to raise about Rs 2,300 crore this fiscal year to fuel its expansion and meet the Union government's monetization target.