Rajasthan and UAE Sign Rs 3 Lakh Crore Energy Deal
The Rajasthan government signed an initial agreement with the United Arab Emirates to invest Rs 3 lakh crore in renewable energy projects in the state. Chief Minister Bhajanlal Sharma and UAE Investment Minister Mohammad Hassan Al Suwaidi were present at the signing ceremony of the Memorandum of Understanding.
As per an ambitious investment, the projects of solar, wind, and hybrid energy totalling 60 GW capacity would be established in western districts of Rajasthan. Chief Minister Sharma stressed on that the target of the central government of producing 500 GW of solar power across the nation. Rajasthan has to produce 250 GW out of that, said the chief minister while expressing hope that cooperation from the UAE would greatly help meet the requirements and allocations for the country to achieve this target.
"This partnership with the UAE marks a very significant step toward transformation of our energy landscape", Sharma said in an official release. Sharma claimed that the project would not just enhance energy production but also significantly transform the sector.
The MoU was signed between UAE Investment Minister Suwaidi and Ajitabh Sharma, Principal Secretary of the Industry Department. The chief minister said that Rajasthan's investment-friendly policies have made the state a most preferred destination for renewable energy investments. Today, Rajasthan boasts the highest renewable energy production in India, and the government has prepared an action plan to raise the electricity demand over the next decade.
Since assuming office, the state government has signed MoUs worth Rs 2.24 lakh crore with various public sector undertakings, preparing the groundwork for 32,000 MW power plants in less than a year. Chief Minister Sharma ascribed this to the strategic and economic cooperation between India and the UAE, further strengthened under Prime Minister Narendra Modi. "The UAE is India's third-largest trading partner and the largest exporter from India", he said.
UAE Investment Minister Mohammad Hassan Al Suwaidi said that the UAE realized the need to meet energy requirements with renewable resources and intends to assume a global leadership role in the transition from traditional sources. Chief Minister invites Suwaidi to attend the upcoming Rising Rajasthan Global Investment Summit-2024 scheduled for December 9 to 11 in Jaipur.
