Tata Power Inks Rs 70,000 Cr MoU For Hybrid Renewable Projects In Gujarat
Tata Power Renewable Energy, a subsidiary of Tata Power, has inked a Memorandum of Understanding (MoU) with the Gujarat government, pledging a staggering Rs 70,000 crore for the development of 10,000 MW of hybrid renewable energy projects in the state.
This agreement was formalised on Thursday during the second day of the 10th Vibrant Gujarat summit, making it the largest MoU signed by a private entity in the renewable energy sector.
The ambitious projects are slated to be established at strategic locations, including Dholera in Ahmedabad, Khavda in Kutch, and Banaskantha. The substantial investment will be allocated to solar, wind, and other hybrid projects over a five-year span, commencing from the financial year 2024-25.
Apart from contributing significantly to the state's renewable energy capacity, the projects are expected to generate employment opportunities for around 3,000 individuals, as per official information.
Tata Power Renewable Energy's commitment is a noteworthy segment of the Rs 1.5-lakh crore worth of MoUs inked on Thursday, highlighting the state's growing prominence in the renewable energy landscape.
The signing ceremony witnessed other significant agreements, reinforcing Gujarat's position as a key player in the green energy sector.
More Power To Gujarat
The Solar Energy Corporation of India (SECI) also participated in the summit, sealing two MoUs with Gujarat Urja Vikas Nigam (GUVNL). The agreements involve the development of 500 MW of power based on Solar Thermal Technology in Kutch and an additional 700 MW of Solar PV Project in Banaskantha district.
In addition to Tata Power Renewable Energy and SECI, several other firms announced substantial investments in Gujarat's renewable energy sector. Serentica Renewables India proposed a Rs 35,000 crore investment for setting up 6,000 MW of hybrid renewable projects at multiple locations, including Jam Khambhaliya, Khavda, Bhuj, and Banaskantha.
The Gujarat State Electricity Corporation entered into a Rs 20,000 crore MoU for the development of 6,675 MW of solar projects across multiple locations in the state between 2025 and 2027. Solairdirect Energy India also committed Rs 17,200 crore for a 2.3 GW renewable energy project.
Further contributing to the green initiative, Opera Energy signed an MoU for Rs 5,000 crore worth of renewable energy projects, while Grew Energy pledged Rs 3,800 crore for projects in Dholera.
All these ventures are anticipated to be commissioned by 2026, playing a pivotal role in Gujarat's renewable energy trajectory and bolstering India's commitment to sustainable power generation.
