Adani Enterprises (AEL), an important subsidiary of Adani Group, has signed a memorandum of understanding (MoU) with the Government of Rajasthan to develop a solar park with up 10GW capacity over the next decade.
The MoU includes a joint venture established by AEL and Rajasthan Renewable Energy. The new JV suggests an investment of approximately USD$ 6.4 billion and will focus on manufacturing PV modules, parts and other equipment, reports Press Trust of India.
Moreover, AEL again announced that the company is planning to build and operate a completely integrated solar PV manufacturing facility with SunEdison. The MoU signed by AEL and SunEdison includes the PV making plant in Mundra, Gujarat, and an investment of USD$4 billion.
Both MoUs reveal the Indian government’s ambitions of developing renewable energy. The government has issued guidelines for at least 25 solar parks, 500MW of capacity, simply in Rajasthan. This is a part of Modi’s plan to install a total of 100GW of solar power by 2022.
“India has embarked upon an ambitious program of becoming a world leader in renewable power generation, with a special focus on solar,” said Adani Group chairman Gautam Adani. "The development of Solar Park facility is our contribution towards realization of our Honorable Prime Minister's campaign and commitment towards clean and green energy in India.”