Indian industrial conglomerate Reliance Group has signed a memorandum of understanding (MoU) with the Rajasthan government to develop 6GW of solar PV parks and projects in the Indian state.
Speaking at the ‘The Resurgent Rajasthan Partnership Summit 2015’, Reliance Group owner Anil Ambani said the projects would be spread over 12,140 hectares over the next six years with potential to attract investment of INR600 billion (US$9 billion).
A solar park, to be named 'The Dhirubhai Ambani Solar Park', will be developed in a joint venture with Rajasthan Renewable Energy Corporation. The park will provide infrastructure to potential solar developers, who are looking to invest in Rajasthan.
Ambani said: “Rajasthan has emerged as the most promising investment destination in the country today. Rajasthan’s constant endeavour to simplify regulations has become a model for others to follow to improve the ease of doing business.”
He said Rajasthan has the “best solar policy in India” and will play a lead role in achieving prime minister Narendra Modi’s target of 100GW of solar deployment by 2022.
Reliance Group has already made INR70 billion investments in Rajasthan across solar power, telecoms, roads, financial services and entertainment, including a 40MW PV project at Pokhran, Jaisalmer District.
At Intersolar India last week, Tarun Kapoor, MNRE joint secretary, announced that next year some capacity is expected to be commissioned for four Indian solar projects, which could become the four largest in the world when fully built. India also plans a 'solar zones' initiative.