CM Holds Important Meeting with UAE Investment Minister Historic MoU of Investment Value Amounting to Rs. 3 Lakh Crore Signed for Renewable Energy Sector
Solar, Wind and Hybrid Project of 60 GigaWatt Capacity to be Installed in Western Rajasthan
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Ananya soch: Rajasthan has signed a historic agreement for investment worth Rs. 3 lakh crore in renewable energy sector from the United Arab Emirates (UAE). An MoU to this effect was signed in the presence of Chief Minister Shri Bhajan Lal Sharma and Investment Minister of UAE Shri Mohammed Hasan Alsuwaidi at CM Residence on Tuesday. As per this agreement, solar, wind, and hybrid power generation projects with 60-gigawatt capacity will be installed in the western districts of the state.
The UAE Minister Shri Alsuwaidi and Principal Secretary, Industries Department, Shri Ajitabh Sharma signed the Memorandum of Understanding (MoU). This venture will be a milestone in fulfilling the energy needs of Rajasthan by installing a long-term power generation project in which modern cutting-edge technology would be used. The novel agreement empowers the Government of UAE to appoint a competent developer who would coordinate with Government of Rajasthan and ensure that the entire project is launched as per the slated timeline.
Foreign Governments Coming Forward to Invest in Rajasthan
Due to CM Shri Sharma's efforts at the international fora for the Rising Rajashan Global Investment Summit-2024, the opportunities for investment in Rajasthan have increased manifold. Until now, private multinational companies were investing through such summits. However, the Government of UAE has now come forward to sign an MoU for investment through government funds. This unique MoU will attract investment worth Rs. 3 lakh crore in energy sector.
Rajasthan will Emerge as Model State for Energy Initiatives : Chief Minister
CM Shri Bhajan Lal Sharma has said that the Union Government led by Prime Minister Shri Narendra Modi and the State Government are continuously working for promotion of renewable energy. The Union Government has aimed to produce 500 gigawatts of power through solar energy. To achieve this, Rajasthan needs to install solar power plants bearing capacity of 250 gigawatts. “The agreement signed with the Government of UAE will be a major step forward in this direction,” the CM said. This project would change the power generation scenario forever and Rajasthan would be a model state in terms of renewable energy, he added.
The CM said that the constructive investment policies resulted in Rajasthan becoming a favourite place for investors in renewable energy sector. The state tops India in renewable power potential. “We have taken major steps to strengthen the power network in the state and prepared an ambitious plan to fulfill our increasing energy needs of next 10 years,” he said.
Sharma added that the state government had signed agreements for investments worth Rs 2,24,000 crore with public sector undertakings. During past 10 months, MoUs had been signed for installing power plants of 32,000 megawatt capacity.
Bhajan Lal Sharma said that under the leadership of Prime Minister, India and the UAE have strengthened their economic, commercial and strategic partnerships. “The UAE is the third biggest business partner of India, while it is the 2nd highest economy in terms of exports from India,” he said. Shri Sharma added that this showed the strong relations the two partners countries shared. Also, the CEPA signed by both the countries in the year 2022 offered new opportunities for bilateral trade.
On this occasion, Investment Minister of the UAE Shri Mohammed Hasan Alsuwaidi said, “The biggest need of the day is to meet the energy requirements by utilizing the renewable resources. The UAE is playing important role in this transition from the traditional to renewable energy.” Climate and geographical conditions in Rajasthan were most favourable for technical innovations in energy sector, he said, further adding, “These novel ideas, will certainly transform the energy sector.”
Invitation to UAE for Investment during Rising Rajasthan Summit
Chief Minister Shri Bhajan Lal Sharma invited Shri
Alsuwaidi to participate in the Rising Rajashan Global Investment Summit-2024 being organized at Jaipur during December 9-11. He apprised the UAE Minister about investment opportunities in renewable energy, smart grid, storage and distribution of energy. He also invited investment in hotel, tourism and infrastructure development sectors in Rajasthan. He said that in Rajasthan, major projects have been proposed in pump storage production, solar energy, drinking water and highways construction sectors. Thus, there were ample opportunities for investments by the Sovereign Wealth Funds and other funds.
During this meeting, Industries & Commerce Minister Col. Rajyavardhan Singh Rathore, Minister of State, Industries & Commerce, Shri KK Bishnoi, Chief Secretary Shri Sudhansh Pant, Additional Chief Secretary CMO Shri Shikhar Agarwal, Additional Chief Secretary Energy Shri Alok, Principal Secretary to CM Shri Alok Gupta and senior officers of various departments were also present.
