The Government of Rajasthan has entered into a Memorandum of Understanding (MoU) with NHPC, an Indian hydropower generation company. The MoU, signed on September 30, 2024, will lead to a substantial investment in renewable energy projects in Rajasthan.

What Happened: As per NHPC’s announcement, the MoU includes plans for the “Development of Pumped Storage Projects, Renewable Energy (Solar/ Floating Solar/ Wind) Projects and Battery Energy Storage System in the State of Rajasthan”. The estimated investment for these initiatives is around ₹50,000 crores.

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Under the MoU, the Rajasthan government will facilitate the necessary permissions and clearances from relevant departments as per the existing policy, rules, and regulations of the state government.

This MoU comes in the wake of a series of similar agreements between the Rajasthan government and other major power companies. Earlier the same day, the Rajasthan government had signed an MoU with NTPC Green Energy for the development of 25 gigawatts of Renewable Energy Projects. Additionally, an MoU was also signed with Tata Power Company for an investment of approximately ₹1.2 lakh crores in power distribution, transmission, and renewable energy projects.

Last month, NHPC announced plans to raise about ₹2,300 crore this fiscal year to fuel its expansion and meet the Union government's monetisation target.

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