Four solar companies seek special incentives to invest close to Rs 1.5 lakh cr in Rajasthan

Four firms have sought special incentives from the state government to put up 34,200 MW solar projects and a component manufacturing facility having capacity for 2,000 MW.

If approved, these projects are estimated to bring in investments of close to Rs 1.50 lakh-crore, including revenues of about Rs 10,000 crore to the government while generating employment for over 16,000 people, as per the proposals of the companies.

Adani, Renew Power and Greenco have given 3-5 year deadline to bring these project on-stream. JSW has sought 10 year period. Collectively, they have sought 80,000 hectares, most of which are expected to be government-owned.

Subodh Agarwal, chairman and managing director of Rajasthan Renewable Energy Corporation Ltd said, “We are now seeing proposals in multiples of not 100s but 1000s. This shows the growing appetite of investors for projects in Rajasthan.”

Agarwal said that while the Rajasthan Investment Promotion Scheme-2020 offers competitive advantages to investors, the government is also offering additional benefits in the form of customized packages under the scope of the scheme to attract big-ticket projects.

While the state empowered committee (EC) has cleared Adani’s 9,700 MW projects that would attract investments of Rs 46,000 crore, others are at various stages of approval. After the EC approval, the proposal needs to be passed in the Cabinet.

ET Energy World
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