Udaipur, November 19, 2024 - At the Rising Rajasthan Global Investment Summit, Memorandums of Understanding (MoUs) worth Rs 20.52 lakh crore have been signed so far, of which Rs 12.82 lakh crore alone will be invested in the energy sector, say reports. The UAE Minister of Investment, Mohammed Hassan Al Suwaidi, recently signed an MoU in Jaipur in the presence of the Chief Minister Bhajan Lal Sharma, pledging an investment of Rs 3 lakh crore in Rajasthan’s renewable energy sector.

With such attractive investment, careful planning is required to ensure these investments directly benefit the public.

As of now, approximately 70% of the electricity generated from solar and wind power plants across Rajasthan is being exported. It is crucial that the upcoming projects include provisions to ensure Rajasthan’s share in the power generated. This would enable affordable electricity for the public and provide relief to industries in the State.

Future projects, say some, must contain narrative that guarantee Rajasthan's portion of the electricity produced. This would go a long way in helping industries in the State and make electricity cheaper for the general public.

Meanwhile, the UAE’s investment of Rs 3 lakh crore in Rajasthan’s renewable energy sector will establish solar, wind and hybrid projects with a combined capacity of 60 GW in the western districts of the State.

Rajasthan has the highest solar radiation potential in the country, with the capability to generate 5.72 units of solar energy annually per square meter. In this aspect, Rajasthan leads among States like Gujarat, Maharashtra and Karnataka making it a destination for renewable energy investors.

With Media Inputs