THDC India Limited (THDC) and Rajasthan Renewable Energy Corporation Limited (RRECL) have signed a joint venture (JV)-cum-share holding agreement to form a JV with a shareholding ratio of 74:26.
The JV company will develop, operate, maintain ultra mega renewable energy power parks (UMREPP) including setting up renewable power projects creating 10 GW capacity in various sites and phases in the state of Rajasthan. The power parks will entail an estimated investment of Rs 400 billion. This collaboration plans to build 2 GW of solar parks in the first phase by 2025. Upon commissioning of all solar power plants on all power parks of the JV company, it will yield an annual revenue of about Rs 120 billion.