In probably one of the largest investment MoU ever, Government of United Arab Emirates (UAE) has signed a pact with Rajasthan government to set up 60 GW power projects of solar, wind and hybrid in the state. This will entail an investment of Rs 3 lakh crore, which is the highest single investment so far coming up for the Rising Rajasthan Global Summit to be held from 9-11 December, 2024.
The investment minister of UAE Mohamed Hassan Alsuwaidi was in Jaipur to sign the agreement. Principal secretary industries Ajitabh Sharma signed the MoU on behalf of Rajasthan government.
This MoU will go a long way in fulfilling long term energy goal of the state.
As per the MoU, the UAE government will appoint an able developer who will coordinate with state government and administration to fast track the installation of the project.
Recently a high level delegation led by industry ministry Rajyavardhan Singh Rathore had gone to UAE and Qatar to engage with private and government investors.
“This is an indication as to how Rising Rajasthan Global Investment Summit is being received by the world. Not only multinational companies but governments are also approaching us for putting up investment,” said a senior government official, who was part of signing up ceremony.
Rajasthan to emerge as model of energy innovations
Rajasthan chief minister Bhajan Lal Sharma said that the state is proactive in fulfilling target of installing 500 GW solar power set by prime minister Narendra Modi.
“Rajasthan will contribute 250 GW and UAE will help us in achieving the target through this initiative. This will put Rajasthan on the world map of energy innovation,” he said.
Sharma said that Rajasthan has become the favourite destination for renewable energy due to investor friendly policies.
“For the requirements of next 10 years, we have prepared action plan to strengthen power distribution system. We have signed up MoUs of Rs 2.24 lakh crore with public sector enterprises. In 10 months we have signed up MoUs for installing 32,000 MW,” he said.
The chief minister said that the partnership between Indian and UAE has been strengthened in the leadership of prime minister Narendra Modi.
The investment minister Mohamed Hassan Alsuwaidi said that generating energy from renewable resources has become need of the hour.
“UAE will play a major role in changing the paradigm from traditional energy to renewable energy. The ecology and climate of Rajasthan is well suited for technological innovations in renewable energy,” he said.
Rajasthan CM invites UAE for Rising Rajasthan
Rajasthan chief minister Bhajan Lal Sharma invited UAE investment minister for Rising Rajasthan Global Investment Summit.
Sharma said that Rajasthan has vast investment potential in the field of pump storage energy production, solar power, water projects and highway construction at large scale.
“In such scenario this is for case for UAE to invest its sovereign fund and other funds in Rajasthan,” he said.
The chief minister also urged UAE investment minister for increased partnership of UAE firms in Rising Rajasthan Global Investment Summit. He also discussed about increasing air connectivity with UAE.
On this occasion, industry minister Rajyavardhan Singh Rathore, state minister for industry K K Bishnoi, chief secretary Sudhansh Pant, additional chief secretary Energy Alok, additional chief secretary to CM Shikhar Agrawal, principal secretary to CM Alok Gupta and principal secretary industries Ajitabh Sharma were also present.
Prakash Bhandari is a veteran journalist with over 50 years of experience. He has worked with The Times of India for 30 years and contributed to leading publications as well as international news agency AFP.
