UAE, Rajasthan to study 60-GW renewable energy project in Indian state

The UAE has signed an investment memorandum with the Indian state of Rajasthan to examine the development of a 60-GW renewable energy project, involving solar, wind and hybrid installations in Rajasthan’s Western district, the UAE Ministry of Investment announced on Tuesday.

The UAE will appoint a developer to implement the initiative, in cooperation with relevant Indian authorities, according to the announcement.

The memorandum, signed by Mohamed Hassan Alsuwaidi, UAE Minister of Investment, and Shri Ajitabh Sharma, Principal Secretary of Industries in the government of Rajasthan, follows a wider investment cooperation agreement between the UAE Ministry of Investment and India’s Ministry of New and Renewable Energy. It seeks to establish long-term renewable energy capacity to serve critical energy needs in the state. According to a statement by the Rajasthan government, the initiative corresponds to an investment of INR 3 trillion (USD 35.7bn/EUR 33bn).

“This project highlights our unwavering commitment to advancing clean energy solutions. Rajasthan, with its favourable climate and vast landmass, offers the ideal environment for this initiative, serving as a testing ground for innovative technologies that will shape the future of energy," said the UAE Minister of Investment.

Rajasthan, in line with India’s goals, aims to reduce carbon intensity by 45% by 2030 and reach net-zero emissions by 2070.

(INR 1 = USD 0.012/EUR 0.011)

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