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ReNew Power inks pact with UP govt to set up 1200 MW renewable energy capacity

Press Trust of India  |  New Delhi 

Ventures today said it has inked a pact with the government to invest Rs 8,000 crore for 1,200 MW of capacity, a move which can create 12,000 jobs in the state.

has signed a Memorandum of Understanding (MOU) with the Government of today to facilitate development of 1200 MW of installed capacity in the state, a company statement said.

According to the statement, an investment of Rs 8,000 crore is proposed to commission these projects which are slated to help the state meet its needs.

The MoU was signed as part of UP Investors Summit 2018, in the presence of of Yogi Adityanath.

The company proposal to develop 1,000 MW of installed capacity for solar power projects along side another 200 MW for is in line with the Indias goal to provide access to energy for all through

These projects have the potential to create direct employment for 5,500 people and indirect employment for 6,500 people in the state.

Talking about the investment, Sumant Sinha, CEO, ReNew Power, said in the statement, There is a significant potential for generating solar power in the state. Technology, entrepreneurship and innovation has ensured that the cost of solar power is on the declining trend as compared to the cost of Therefore, investments are critical in helping the states to achieve their

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 21 2018. 21:50 IST