Tehri Hydro Development Corporation Limited (THDC) and Rajasthan Renewable Energy Corporation Limited (RRECL) have agreed to form a joint venture with a shareholding ratio of 74:26 to develop 1.8 GW of renewable energy projects in Rajasthan. The joint venture will establish 10 GW of renewable energy projects with an estimated investment of Rs 400 billion.
This collaboration plans to build 2 GW of solar parks in the first phase by 2025. The joint venture partners also plan the development of floating solar and pumped hydro storage projects in the state. The projects will help in providing employment to approximately 10,000 people.
In January 2023, Rajasthan Urja Vikas Nigam (RUVNL) invited bids to set up 1,500 MW of interstate transmission system (ISTS)-connected wind-solar hybrid power projects anywhere in India with required storage for distribution companies to have flexibility in scheduling of power.
In the same month, Rays Power Infra signed a memorandum of understanding with the Rajasthan government to build an avant-garde photovoltaic power station. Reportedly, the solar park will generate 1800 MW of renewable power, divided among three 300 MW projects and one 900 MW project. The entire project is estimated to be worth Rs 91.4 billion.