Rajasthan Secures Rs 1 Lakh Crore Loan for Infrastructure, Renewable Energy Projects

The Rajasthan government signed an MoU with HUDCO to secure Rs 1 lakh crore for infrastructure and renewable energy projects. Chief Minister Bhajanlal Sharma emphasized the state’s commitment to energy leadership and infrastructure development, including a major solar power initiative in Jaisalmer.

The state government of Rajasthan has entered into a Memorandum of Understanding (MoU) with the Housing and Urban Development Corporation Limited (HUDCO) to secure financial assistance worth Rs 1 lakh crore. Chief Minister Bhajanlal Sharma reaffirmed the government's resolve to position Rajasthan as a leader in energy and bolster infrastructure for drinking water and irrigation.

All necessary financial resources will be allocated to meet these goals, Sharma asserted. Speaking at the virtual inauguration ceremony of the Jaisalmer Solar Power Plant, he highlighted the contributions of ReNew, a leading company in renewable energy production. 'The production of renewable energy from a 400 MW solar power plant in Jaisalmer marks a critical step towards making the state self-reliant. The remaining 200 MW will be commissioned by October, enhancing the state's renewable energy capacity,' Sharma stated. 'This expansion will lower electricity costs and tariffs for consumers, providing savings for the government,' he added.

The Chief Minister pointed out substantial strides in guaranteeing an uninterrupted supply of electricity and water. Additional MoUs amounting to Rs 1 lakh crore have been signed for 28,500 MW of renewable energy and 3,325 MW of thermal projects. An investment of Rs 10,000 crore is also earmarked to fortify the transmission system, while a 600 MW solar energy purchase agreement has been finalized between Rajasthan Energy Development Corporation and SJVN.

A tariff-based tender process for 8,000 MW solar and 3,200 MW coal-based projects is underway, which is expected to attract Rs 64,000 crore in investments. HUDCO's agreement includes a Rs 1 lakh crore loan for infrastructure projects over five years, with Rs 20,000 crore annual disbursements for water, irrigation, and electricity needs.

On Wednesday, HUDCO handed over a cheque for Rs 1,577 crore to the Rajasthan Water Supply and Sewerage Corporation (RWSSC) for the Jal Jeevan Mission. Deputy Chief Minister and Finance Minister Diya Kumari affirmed that, under Chief Minister Sharma's leadership, the state is advancing rapidly towards becoming a developed region.

'Inspired by the CM's vision, we are committed to establishing new dimensions of development across sectors,' she added.

(With inputs from agencies.)