Rajasthan to attract ₹11,200 crore investments as Cabinet clears formation of three energy sector JVs
According to Minister Jogaram Patel, the joint ventures are being established in continuation of the Memoranda of Understanding (MoUs) signed between the Rajasthan government and three Central Public Sector Undertakings (CPSUs) on August 8, 2024, and September 29, 2024. These ventures will help expand renewable energy capacity in the state, support peak electricity demand, and reduce the financial burden on the government in power generation.
Patel stated that the state government's equity in these joint ventures will be arranged through the current assets of state-owned power companies.
The three joint ventures are:
Indraprastha Gas Limited (IGL) – RVUNL JV
The first joint venture will be between Indraprastha Gas Limited and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL), with shareholding of 74% and 26% respectively. A 500 MW solar power project will be set up in RVUNL's solar park under this JV. The project will lead to an investment of approximately ₹2,000 crore in the state.
Oil India Limited – RVUNL JV
A second joint venture will be formed between Oil India Limited and RVUNL for setting up renewable energy projects with a capacity of 1,000 MW solar and 200 MW wind energy. This JV will have equal 50:50 shareholding, and is expected to attract an investment of ₹5,000 crore.
GAIL (India) Limited – RVUNL JV
The third JV will be created between GAIL (India) Limited and RVUNL, also with 50:50 equity participation. Under this arrangement, the existing 300 MW gas-based Dholpur Power Plant and 270.50 MW Ramgarh Power Plant will be transferred to the joint venture. GAIL will ensure the availability of gas for both power plants, which is expected to improve their operational performance and efficiency.
In addition to managing these two gas power plants, this JV will also develop 750 MW of solar and 250 MW of wind power projects, contributing to a total investment of ₹4,200 crore in Rajasthan.
According to Minister Jogaram Patel, the formation of these joint ventures is expected to play a crucial role in expanding the state's renewable energy infrastructure and ensuring cleaner, more reliable power generation while attracting large-scale investments into Rajasthan's energy sector.
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