Rajasthan Inks Rs 1.0 Lakh Cr MoU With HUDCO – EQ
In Short : Rajasthan has signed a Rs 1.0 lakh crore Memorandum of Understanding (MoU) with HUDCO. This agreement aims to boost infrastructure development and promote sustainable growth within the state.
In Detail : The state government of Rajasthan signed a MoU with the Housing and Urban Development Corporation Limited (HUDCO) to provide financial assistance of Rs 1 lakh crore. The state government will ensure all necessary financial resources are allocated towards this resolution.
“The production of renewable energy from a 400 MW solar power plant in Jaisalmer by ReNew, a leading company in renewable energy production, is an important step towards making the state self-reliant. Production of the remaining 200 MW will start by October. This will increase the renewable energy capacity of the state. Adding renewable capacity will reduce the cost of electricity, resulting in lower tariffs for consumers and savings for the government. This plant will be able to supply electricity to Rajasthan Discom at very low rates,” CM Sharma said while addressing the virtual inauguration ceremony of the Jaisalmer Solar Power Plant at the Chief Minister’s Office.
Furthermore, an investment of Rs 10,000 crore has been signed to strengthen the transmission system. A 600 MW solar energy purchase agreement has been signed between Rajasthan Energy Development Corporation and SJVN. CM further stated that a tariff-based tender process has been started for 8,000 MW solar and 3,200 MW coal-based projects. The establishment of these projects will lead to an investment of Rs 64,000 crore.
Notably, HUDCO signed an MoU of Rs 1 lakh crore with the state government, under which a loan of Rs 20,000 crore per year will be provided to the state government for infrastructure projects like water, irrigation, and electricity over the next five years.
