By NewsGram Staff Writer
The Gautam Adani-led Adani Group, in collaboration with the Rajasthan government, has decided to build India's largest solar power facility of 10,000 MW capacity in Rajasthan.
"The joint venture (JV), known as Adani Renewable Energy Park Rajasthan Ltd, will have a 50-50 equity partnership between the Rajasthan government and Adani Renewable Energy Park Ltd, a subsidiary of Adani Enterprises," the company said in a statement release.
The company statement said that the park will include generation projects and a manufacturing unit for solar modules, parts, and equipment.
Over Rs. 60,000 crore is believed to be invested in the park, while Adani itself plans to generate 5,000 MW within it.
Spelling out the reason behind the tie-up, Adani said, "The formation of the Joint Venture is towards achieving the Rajasthan government's target of 25,000 MW solar power capacity by 2022."
Adani Enterprises has also signed a deal with US energy firm SunEdison to jointly invest $4 billion in setting up India's biggest solar panel factory. India's solar capacity target has been revised fivefold to 100,000 MW by 2022 by the Modi government.