Thursday, June 30, 2022
Tech ObserverNewsGovTechRajasthan SEC recommends 1.18 lakh crore investment in renewable energy sector

Rajasthan SEC recommends 1.18 lakh crore investment in renewable energy sector

Opening doors to the investment of 1.18 lakh crore in the state, the State Empowered Committee (SEC) under the Enterprises Single Window Enabling and Clearance Act, 2011 recommended six projects for consideration of special package under the Rajasthan Investment Promotion Scheme, said a statement from the state government.

The recommendations were made in the 33rd meeting of the SEC held under the chairmanship of Chief Secretary on Monday. The proposals are from varied sectors like Energy, Textile and Manufacturing Sectors assuring to generate more than 30,000 job opportunities in the state, said a statement.

Earlier, a Board of Investment under Chairmanship of Chief Minister has been constituted under the provisions of Rajasthan Enterprises Single Window Enabling and Clearance (Amendment) Act, 2020. It was the first SEC meeting since the constitution of the Board of Investment. These proposals shall now be submitted for final decision before the newly constituted Board of Investment under Chairmanship of Chief Minister, said a government note.

The investors have expressed confidence in the investment opportunities in state and policies of the state government under the leadership of the Chief Minister Shri .

The proposals recommended in the 33rd SEC meeting also present possibilities for the emergence of new opportunities and more sustainable development in the state and also mark a point that is one of the booming sectors in the State.

The proposals in the Renewable energy Sector included a 10 GW solar power project intending an investment of Rs 48,540 crore, a 10 GW Solar-Wind Hybrid renewable energy project with proposed investment of Rs 40,000 crore and, an Integrated renewable energy storage project to be developed with an investment of Rs 30,000 crore, which will come in a phased manner in the coming years.

The state government said that now it is an accepted fact that introduction of investor-friendly policies/schemes like The Rajasthan Investment Promotion Scheme (RIPS) 2019, Rajasthan Industrial Policy-2019 and the Rajasthan Solar Energy Policy 2019 and the Rajasthan Wind and Hybrid Energy Policy 2019 have given a positive message to the investors looking to invest in the State.

The proposed Integrated Renewable Energy Storage Project (IRESP) will be the first of its kind renewable energy project with the storage component. The project proposes to store excess solar energy available during the day with help of hydro pumps. The energy can be reclaimed during peak hours or night time when solar energy is unavailable.

A project for IC/Semi-Conductor Packaging Unit which will be the first industry in the semiconductor sector in the state. The semiconductor components are an integral part of the vast expanding mobile phone and computing devices, most of these are still being imported in India.

The government said that Rajasthan has ample opportunities in the sector and the pioneering project can help in the emergence of the sector. Investor informed that India will be the 5th country in the world with this kind of technology.

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