Inviting industrialists to invest in renewable projects of the state, New and Renewable Energy Minister Hardeep Singh Dang said that they will not face any kind of problem. Madhya Pradesh is preparing to supply 50 percent of Prime Minister Modi’s target of 500 gigawatts of renewable energy. Energy storage projects are being encouraged.
A 600 megawatt floating solar project is being set-up at Omkareshwar in Madhya Pradesh. Work on three other floating projects worth Rs. 7 thousand 500 crore will initiate soon in the state.
There is a possibility of setting-up 60 thousand megawatt solar, 15 thousand megawatt wind and other renewable energy based projects. So far, over 60 thousand megawatt solar and about 5 thousand megawatt wind power projects are implemented and are at the implementing stage in the state.
In the Investors Summit, 128 industrial houses have given proposals for investment in renewable energy. This information was given today in the session on renewable energy at the Global Investors Summit under the chairmanship of Principal Secretary Energy and Renewable Energy Shri Sanjay Dubey.
In the session, Parag Sharma, Founder and CEO, Otto Power Pvt Ltd, made a presentation on “Opportunities in Renewable Energy Sector in Madhya Pradesh”.
Executive Vice President Greenko Group Pravin Mitter Nanda, Chairman Avada Group Vineet Mittal, Executive Director NTPC Mohit Bhargava, CEO of Tata Power Renewable Energy Ashish Khanna, CMD SJVN Nandlal Sharma and CMD of REC Ltd. Vivek Kumar Dewangan discussed in detail about the opportunities, difficulties, challenges and solutions in the field of renewable energy. They apprised about their projects. Queries and doubts were resolved after the session.
MoUs signed
MoUs worth Rs. 16,000 crore were signed in the presence of Energy Minister Pradyuman Singh Tomar, New and Renewable Energy Minister Hardeep Singh Dang, Energy Development Corporation Chairman Girraj Dandotia. Out of this, an MoU of Rs. 1,000 crore was signed between REC and RAMS and OF Rs. 15,000 crore was signed between PMCL and REC.
Investors expressed their desire to invest in Madhya Pradesh
At the end of last year in Madhya Pradesh, the renewable energy policy, facilities and investor friendly environment have motivated investors to invest in the projects of the state.
A single window policy has been made for solar and wind energy.
The state is soon going to become the first state to produce green ammonia and green hydrogen.
Industrialists showed interest in investing in this as well. Madhya Pradesh is the only state where big projects are going to be established in the near future.
The major green energy production is going to start within a year from the project under construction.
Maximum investment of Rs. 90 thousand crore is expected in pump hydro projects under renewable projects. Along with storage and wind power, 950 megawatt solar projects in Chhatarpur and 1400 megawatt solar projects in Morena are the centre of attraction for investors.
Madhya Pradesh is also leading in Kusum Projects started for farmers.
There is a target to develop 20 thousand megawatt renewable energy in Madhya Pradesh by the year 2027 by promoting renewable energy equipments.
By the year 2025, 1400 megawatt Hybrid Park with energy storage will start in Morena and 950 megawatt in Chhatarpur.
At the same time, by September 2023, the 600 megawatt Omkareshwar floating project and the 1500 megawatt Agar-Shajapur-Neemuch project will also begin its production.
