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Essel forms joint venture with Rajasthan govt to set up solar parks

Essel Group said on Friday that it has formed a 50:50 joint venture with the government of Rajasthan  to set up solar parks in the state.

With an investment of Rs 4,000 crore, the solar parks will be set up in Bikaner and Jaisalmer regions.

“Essel Group has entered into a JV agreement with the Government of Rajasthan to set up solar parks in the state. The project will facilitate an investment of Rs 4,000 crore in the regions of Bikaner and Jaisalmer,” The company said in a statement.

“According to the JV agreement, the land for the project will be provided by the Government of Rajasthan for solar park development, while Essel Group will implement the entire project which includes financing, technical support, operation and maintenance,” Essel Group said.

Essel Infra and Utilities CEO Ashok Agarwal said,”Solar Park Project in Rajasthan will be India’s turnkey project in the renewable energy space which will aid the clean energy initiatives of the Government of Rajasthan.”

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