The Rajasthan government has signed a major agreement with the United Arab Emirates (UAE) for a Rs 3 lakh crore investment aimed at boosting renewable energy development in the state. The Memorandum of Understanding (MoU) was signed in the presence of Rajasthan Chief Minister Bhajanlal Sharma and UAE Investment Minister Mohammad Hassan Al Suwaidi. The investment will focus on the establishment of solar, wind, and hybrid energy projects with a total capacity of 60 GW in Rajasthan’s western districts.
Chief Minister Sharma highlighted the central government’s goal of achieving 500 GW of solar energy capacity nationwide. Rajasthan, with its vast solar potential, is expected to contribute 250 GW towards this target. Sharma emphasized that the collaboration with the UAE marks a significant step towards achieving this ambitious goal, bringing a transformative shift in energy production.
According to the official statement, Ajitabh Sharma, Principal Secretary of the state’s Industry Department, and UAE Minister Suwaidi formalized the agreement. The Chief Minister further added that Rajasthan’s favorable investment policies have made the state a preferred destination for renewable energy projects. Rajasthan now leads India in renewable energy generation and has signed MoUs worth Rs 2.24 lakh crore with public sector enterprises over the past 10 months, aiming to set up 32,000 MW of power plants.
Chief Minister Sharma also noted that under Prime Minister Narendra Modi’s leadership, the economic, commercial, and strategic partnership between India and the UAE has strengthened significantly. The UAE is now India’s third-largest trading partner and ranks second in Indian exports.
Investment Minister Suwaidi stressed the importance of transitioning from traditional energy sources to renewables, a shift that the UAE is actively supporting. The Chief Minister extended an invitation to Suwaidi to attend the upcoming ‘Rajasthan Global Investment Summit-2024,’ which will be held in Jaipur from December 9 to 11.
