The Government of Rajasthan has entered into an MoU with the UAE for a Rs 3 lakh crore investment in renewable energy, targeting 60 GW of solar, wind, and hybrid energy capacity in the state’s western districts. UAE is India’s third-largest trading partner and second largest export market.
The Rajasthan government has signed a Memorandum of Understanding (MoU) with the United Arab Emirates (UAE) for a Rs 3 lakh crore investment (US$ 35.7 billion) in renewable energy. This investment will fund solar, wind, and hybrid energy projects with a total capacity of 60 GW in the state’s western districts. The agreement was signed in the presence of Chief Minister Bhajanlal Sharma and UAE Investment Minister Mohammad Hassan Al Suwaidi.
This initiative supports India’s target of producing 500 GW of solar energy, with Rajasthan expected to contribute 250 GW. Rajasthan currently leads India in renewable energy production, attracting significant investments due to its favorable policies.
Over the past 10 months, the state government has signed MoUs worth Rs 2.24 lakh crore with public sector undertakings to establish 32,000 MW of renewable energy plants.
The Chief Minister highlighted the deepening economic, commercial, and strategic ties between India and the UAE, noting that the UAE is India’s third-largest trading partner and ranks second in Indian exports. UAE Minister Suwaidi emphasized the need for renewable energy and the UAE’s role in driving the shift from traditional energy sources.
The Chief Minister also invited Suwaidi to the ‘Rajasthan Global Investment Summit-2024,’ scheduled for December in Jaipur. This partnership is expected to significantly contribute to India’s renewable energy goals and help meet the increasing demand for power.
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