Rajasthan government will set up joint venture companies with three central PSUs in oil and gas sector – Indraprastha Gas Limited, Oil India and GAIL India – to drive renewable power projects in the state. These joint ventures – ramifications of MoUs signed up during Rising Rajasthan – will collectively bring an investment of Rs 11,200 crore.
For these JV companies, share capital will be arranged from existing assets of the state government companies.
JV with Indraprastha Gas Limited (IGL) – The state owned Rajasthan Vidyut Utpadan Nigam Limited (RVUNL) will form a 74:26 JV with IGL with state government as minority partner. The JV will set up a 500 MW solar project with an investment of Rs 2,000 crore in RVUNL solar park.
JV with Oil India – RVUNL will form equal partnership (50:50) JV with Oil Indian Limited to invest Rs 5,000 crore for setting up 1,000 MW of solar power and 200 MW of wind power plant in the state.
JV with GAIL India – A 50:50 JV with GAIL India will also come up. It will set up 750 MW solar power project and a 250 MW wind power project with an investment of about Rs 4200 crore in the state.
Apart from that, the JV will also supply gas for the operation of existing units of gas-based 300 MW Dholpur power plant and 270.50 MW of Ramgarh power plant.
This will enhance the operation and efficiency of these power plants.
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