NHPC inks pact for development of 10,000 MW renewable energy projects in Rajasthan

10 Feb 2022 , 11:52 AM

NHPC Ltd has informed in filing to the exchanges regarding signing of letter of intent between the company and RRECL

A Letter of Intent (LoI) has been signed between NHPC Limited and Rajasthan Renewable Energy Corporation Limited (RRECL) on February 08, 2022 at Jaipur for development of 10,000 MW Renewable Energy Projects/ Parks in the State of Rajasthan in the august presence of Ashok Gehlot, Hon’ble Chief Minister of Rajasthan.

The LOI was signed by Y. K. Chaubey, Director (Technical), NHPC Limited and Shri Subodh Agarwal, Additional Chief Secretary, Mines & Petroleum Department & Energy Department and Chairman & Managing Director, RRECL and Chairman, Rajasthan Urja Vikas Nigam Limited.

Under the dynamic leadership of A.K. Singh, Chairman and Managing Director, NHPC, the Company is expanding its Renewable Energy portfolio and has taken up several Renewable Energy Projects under different modes.

The signing of above LoI and the support of Govt. of Rajasthan will mark a new beginning to develop 10,000 MW Renewable energy Parks/ Projects in Rajasthan.

The Hon’ble Prime Minister in COP-26 had announced that India will go Carbon neutral by 2070 and by 2030 India will generate 500 GW from non-fossil fuel sources which will be 50% of total installed capacity and this initiative of NHPC will be a big milestone in this matter.

At around 11:52 AM, NHPC was trading at Rs29.55 apiece down by Rs0.2 or 0.67% on Sensex.