Jaipur: State Cabinet clears formation of three joint ventures with central PSUs; aims to expand clean energy capacity and optimize existing gas-based plants.
In a key move to enhance its renewable energy portfolio, the Rajasthan government on Monday approved the formation of three joint venture (JV) companies with central public sector undertakings (CPSUs). The projects, backed by an estimated investment of Rs 11,200 crore, were cleared during a Cabinet meeting chaired by Chief Minister Bhajan Lal Sharma at the Chief Minister’s Office in Jaipur.
The three joint ventures will involve collaborations between Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) and the following CPSUs — Indraprastha Gas Limited (IGL), Oil India Limited (OIL), and GAIL (India) Limited. These partnerships stem from Memoranda of Understanding signed in August and September 2024.
1. IGL-RVUNL JV: Solar Power Development
The state will partner with IGL to set up a 500 MW solar power project inside RVUNL’s solar park. IGL will hold 74% equity, while RVUNL will hold 26%. The estimated investment for this project is Rs 2,000 crore.
2. OIL-RVUNL JV: Hybrid Renewable Projects
Oil India and RVUNL will jointly develop 1,000 MW of solar and 200 MW of wind energy under a 50:50 equity structure. The project is expected to bring in Rs 5,000 crore in investment.
3. GAIL-RVUNL JV: Operational Restructuring of Gas Plants
The third JV involves transferring two existing gas-based power plants – the 300 MW Dholpur plant and 270.5 MW Ramgarh plant into a new joint entity co-owned by GAIL and RVUNL. GAIL will be responsible for ensuring gas supply, with the aim to improve efficiency and reduce downtime. No new capacity is being added under this JV, but the focus will be on maximizing the performance of existing assets.
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