India bases Adani Group has entered into a joint venture (JV) with the government of Rajasthan called Adani Renewable Energy Park Rajasthan to build a 10,000MW solar park.
Adani Renewable Energy Park will be equally owned by both the companies.
The park will house a manufacturing unit for solar equipment, module, and other parts as well as a generation project.
The Indian conglomerate plans to generate 5,000 MW in this solar park which is expected to attract investments of over Rs600bn ($9.4bn).
The project is also expected to create huge direct and indirect employment opportunity for the locals.
Adani Group chairman Gautam Adani said: "This project will be India’s largest solar park and will also house manufacturing facilities to be set up under the country’s ambitious Make In India initiative.
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By GlobalData"We have embarked upon a mission of becoming a world leader in renewable power generation technologies, with a special focus on solar.
"The development of Solar Park facility is our contribution towards realization of our Honorable Prime Minister’s campaign and commitment towards clean and green energy in India."
The Government of Rajasthan aims to achieve 25,000 MW capacity by 2022 and the latest JV is expected help the Indian state in reaching its goal.
