The Indian project developing company Onix Group has signed a Memorandum of Understanding (MoU) with the government of Uttar Pradesh (northern India) to develop two renewable projects totalling 2 GW in the state. Onix Group aims to develop a 1 GW solar project in Prayagraj and a 1 GW wind power plant in Baghpat. The projects, whose construction is scheduled to start in 2023, will require an estimated investment of INR120bn (US$1.45bn).
At the end of 2021, solar and wind accounted for over 20% of installed capacity in India, with respectively 49 GW and 40 GW, while hydropower capacity surpassed 51 GW. India plans to increase its non-fossil fuel capacity to 500 GW and meet 50% of its energy requirements from renewables by 2030.
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