NHPC Renewable Energy Limited (NREL) signed an agreement with the Rajasthan government on Thursday for the development of a 10 GW ultra mega renewable energy power parks.
As per a regulatory filing, the energy projects would be developed either on “EPC or developer mode by NREL”.
The ultra mega renewable energy power parks (UMREPP) will be developed by NHPC Renewable Energy Limited (NHPC REL), the wholly-owned affiliate of the hydropower firm, which has signed the pact with the Rajasthan government.
“The memorandum provides a framework under which parties may collaborate and cooperate for setting up of 10 GW RE Parks (UMREPP)/ projects at sites identified inside Rajasthan, by optimum utilization of resources and knowledge base of both parties,” NHPC informed the stock exchanges.
The memorandum of understanding was signed in the national capital in the presence of Rajashtan CM Ashok Gehlot along with Bhaskar Sawant, Principal Secretary of Energy Department of Rajasthan, and Biswajit Basu, Chairman of NREL.
NHPC Ltd had set up its renewable energy company NREL as a completely owned subsidiary earlier this year for the development of renewable energy, small hydro and green hydrogen-based business. NREL was incorporated with the Registrar of Companies, NCT of Delhi & Haryana.