Adani Group, a global infrastructure player, has set a target of 10,000 mega watts (MW) of solar power by 2022 and signed a joint venture agreement with the Rajasthan Government to set up a 10,000 MW solar park, which will emerge as the largest such integrated facility in India.
The joint venture, which will be known as Adani Renewable Energy Park Rajasthan Ltd., will have a 50-50 equity partnership between the state government and Adani Renewable Energy Park Ltd, a subsidiary of Adani Enterprises Ltd.
The proposed park, which is expected to attract investments over Rs. 60,000 crore, will include generation projects and a massive manufacturing unit for solar module, parts and equipment. Adani itself plans to generate 5,000 MW in this solar park. The proposed park will create both direct and indirect employment opportunities.
"This project will be India's largest solar park and will also house manufacturing facilities to be set up under the country's ambitious 'Make In India' initiative. We have embarked upon a mission of becoming a world leader in renewable power generation technologies, with a special focus on solar. The development of Solar Park facility is our contribution towards realization of our Prime Minister's campaign and commitment towards clean and green energy in India," said Gautam Adani, the chairman of Adani Group.
The Indian Government has announced to set up 100,000 MW of solar capacity by 2022. They have also issued guidelines for setting at least 25 solar parks each with a capacity of 500 MW and above across India.
Adani Power is India's largest private thermal power generating company in private sector in India with an installed base of 10,480 MW. Apart from coal based power generation, Adani group also operates a 40 MW Solar PV Plant at Kutch, Gujarat.
