Rana Holdings, which is headquartered in the UAE and operates EV manufacturing facilities in India, has proposed developing a 2GW solar PV portfolio in Madhya Pradesh as part of a planned INR352 billion (US$4 billion) multi-sector investment programme in the Indian state.
The proposal was discussed during a meeting between Madhya Pradesh chief minister Mohan Yadav and Darshan Singh Rana, chairman and managing director of Rana Holdings, under the state’s Invest Madhya Pradesh initiative.
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The proposed 2GW solar portfolio would be Rana Holdings’ first and integrated with 400MWh of battery energy storage systems (BESS).
The wider programme includes a 50MW AI and computing data centre, expandable to 200MW, along with an integrated smart manufacturing hub.
The projects are planned across a 700-acre industrial estate, alongside a separate proposed solar plant covering approximately 8,000 acres, according to the company.
Rana Holdings said the programme would be developed in phases over ten years through Erisha Green Energy, its renewable energy platform and master-developer vehicle for the proposed investment.
The Madhya Pradesh government said the investment would support the state’s energy transition, advanced manufacturing and digital infrastructure.
According to Ministry of New and Renewable Energy, Madhya Pradesh has 10.36GW of cumulative installed solar capacity as of early 2026, making it India’s fifth-largest state by solar installations.
The state’s Renewable Energy Policy 2025 aims to meet 50% of annual electricity demand from clean energy by 2030, with an interim 30% target by 2027. The policy also aims to attract INR500 billion (US$6 billion) in renewable energy investment by 2027 and develop a 10GW renewable energy technology park.
Companies including Fujiyama Power, Jakson and INA Solar have announced plans for module, wafer and ingot manufacturing facilities in Madhya Pradesh.
In May 2026, Indian public solar developer Rewa Ultra Mega Solar Limited (RUMSL) tendered 50MW and 200MW solar-plus-storage projects in the state, designed to supply peak-period power alongside daytime solar generation.
Last week, the Asian Development Bank (ADB) agreed to support Madhya Pradesh in developing three renewable energy projects through public-private partnerships, including a solar-plus-storage project at Shajapur. The initiative is expected to mobilise up to US$1 billion in private investment.
