Reportedly, the Rajasthan government has approved the formation of three joint ventures (JVs) in the energy sector to attract investments of Rs 112 billion.
The JVs are being set up in continuation of memorandum of understanding signed with central public sector undertakings in 2024 and will support renewable energy expansion and peak demand management in the state. The first JV between Indraprastha Gas Limited and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) with a 74:26 shareholding, will set up a 500 MW solar project with an investment of Rs 20 billion. The second JV between Oil India Limited and RVUNL, with equal shareholding, will develop 1,000 MW of solar and 200 MW of wind capacity at an estimated investment of Rs 50 billion. The third JV, between GAIL (India) Limited and RVUNL with 50:50 equity, will take over the 300 MW Dholpur and 270.5 MW Ramgarh gas-based power plants and develop 750 MW of solar and 250 MW of wind projects by raising Rs 42 billion.
