New Delhi: Several leading corporations, including NTPC, Reliance Industries and Adani Group, have committed to large-scale investments in Madhya Pradesh, focusing on energy, infrastructure and manufacturing.
These commitments, announced at the Invest Madhya Pradesh summit, total around Rs 4 lakh crore, with projects spanning renewable energy, nuclear power, biofuels and urban development.
Energy Sector Sees Major Investments
State-run NTPC plans to invest Rs 1.2 lakh crore to develop 2 gigawatts of renewable energy capacity in Madhya Pradesh. Additionally, the company is considering Rs 80,000 crore for two greenfield nuclear power plants in the state.
Adani Group has pledged Rs 1.1 lakh crore across pumped storage, cement, mining, smart meters and thermal energy. It is also in talks with the state government for another Rs 1 lakh crore investment in a greenfield smart city, an airport project and a coal gasification plant. Reliance Industries has committed Rs 60,000 crore to establish biofuel projects in the state.
Renewable Energy Players Make Commitments
Renewable energy firm Avaada has announced a Rs 50,000 crore investment in solar, wind, pumped hydro storage and battery storage projects, along with a solar photovoltaic module manufacturing facility.
Ahmedabad-based Torrent Power has committed Rs 26,500 crore for renewable energy projects.
Lending and Manufacturing Support
State-owned lenders Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) have pledged Rs 26,800 crore and Rs 21,000 crore, respectively, in lending support to various projects.
Chennai-based OPG Power Generation Pvt Ltd plans to invest Rs 13,400 crore to develop battery storage systems, small modular reactors, green hydrogen and hybrid solar-wind power generation. The final list of investment commitments will be released at the end of the summit.
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