Tata Power To Establish Hybrid Renewable Energy Projects Worth INR 70,000 Crore In Gujarat

Tata Power Renewable Energy, a subsidiary of Tata Power, has entered into a Memorandum of Understanding (MoU) with the Gujarat government, committing a substantial INR 70,000 crore for the development of 10,000 MW of hybrid renewable energy projects in the state. The agreement, formalized during the 10th Vibrant Gujarat summit, marks the largest MoU in the renewable energy sector by a private entity.

The projects are slated for strategic locations, including Dholera in Ahmedabad, Khavda in Kutch, and Banaskantha. The investment will be distributed across solar, wind, and other hybrid projects over a five-year period, starting from the financial year 2024-25. These projects are expected to contribute significantly to the state's renewable energy capacity and create job opportunities for around 3,000 individuals.

Tata Power Renewable Energy's commitment is a noteworthy part of the INR 1.5-lakh crore worth of MoUs signed on Thursday, underscoring the state's increasing importance in the renewable energy landscape. The signing ceremony witnessed other important agreements, solidifying Gujarat's role as a key player in the green energy sector.

Solar Agreements

The Solar Energy Corporation of India (SECI) also participated in the summit, finalizing two MoUs with Gujarat Urja Vikas Nigam (GUVNL). The agreements involve the development of 500 MW of power based on Solar Thermal Technology in Kutch and an additional 700 MW of Solar PV Project in Banaskantha district.

In addition to Tata Power Renewable Energy and SECI, several other companies announced substantial investments in Gujarat's renewable energy sector. Serentica Renewables India proposed an INR 35,000 crore investment for setting up 6,000 MW of hybrid renewable projects at multiple locations, including Jam Khambhaliya, Khavda, Bhuj, and Banaskantha.

Gujarat’s Renewable Energy Trajectory

The Gujarat State Electricity Corporation entered into an INR 20,000 crore MoU for the development of 6,675 MW of solar projects across multiple locations in the state between 2025 and 2027. Solairdirect Energy India also committed INR 17,200 crore for a 2.3 GW renewable energy project.

Further contributing to the green initiative, Opera Energy signed an MoU for INR 5,000 crore worth of renewable energy projects, while Grew Energy pledged INR 3,800 crore for projects in Dholera. All these ventures are expected to be commissioned by 2026, playing a crucial role in Gujarat's renewable energy trajectory and supporting India's commitment to sustainable power generation.