The Indian oil and gas company ONGC plans to build a 1 GW solar power plant in the state of Rajasthan (northwestern India). The company is currently seeking to secure 5,000 acres (about 20 km2) of land from the Rajasthan state government to construct the proposed plant. The project is expected to require an investment of INR50bn (US$604m).
ONGC, which presently possesses 31 MW of installed solar capacity (153 MW of wind), is trying to accelerate its development of renewable energy projects. In July 2022, ONGC signed a memorandum of understanding with Indian renewable group Greenko to create a joint venture that will invest INR494bn (US$6.2bn) in renewable energy, green hydrogen and green ammonia projects in India, aiming to develop between 5.5 and 7 GW of solar and wind projects.
In a similar move in October 2022, Coal India has signed a memorandum of understanding with RVUNL worth INR54bn (US$656m) to develop a 1.19 GW solar power project in Rajasthan.
At the end of 2021, solar and wind accounted for nearly 20% of installed capacity in India, with respectively 49 GW and 40 GW. The country aims to develop 175 GW of renewable capacity by the end of 2022, including 100 GW of solar.
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