Why in news:

• State-owned THDC India Limited (THDCIL) has signed a pact to build 10,000MW solar power projects entailing an investment of ?10,000 crore in Rajasthan.
• THDC India Limited (THDCIL) signed the letter of intent (LoI) of 10,000MW in Rajasthan with an estimated investment of ?40,000 crore for the establishment of renewable energy parks/projects of 10,000MW in the presence of the Chief Minister, Rajasthan, and the Minister for Industry, Revenue and Energy, Government of Rajasthan.
• On behalf of THDCIL, its Director (Finance) signed the LoI in Jaipur, which was accepted by Rajasthan Additional Chief Secretary, who is also the CMD of RRECL (Rajasthan Renewable Energy Corporation Limited).
• The land bank will be allocated by the Government of Rajasthan through RRECL.
• The RE parks will be implemented through a special purpose vehicle in the term of a joint venture with RRECL in the ratio of 74:26.
• With the above intent of investment in the energy sector by THDC India Limited, it is expected that around 10,000 direct and indirect employment opportunities will be created during the peak time of construction, which will boost the local economy.
• The project shall be commissioned between the third and fifth year in a phased manner. These mega ventures by THDCIL and RRECL will usher in the socio-economic development of the project areas and also bring in cheap solar electricity in the region.
• This will also contribute towards the Renewable Energy capacity addition target of 500 gigawatts (GW) by 2030.
  
  
  
   

Rajasthan Renewable Energy Corporation Limited (RRECL)

• Rajasthan Renewable Energy Corporation Limited (RRECL) had been formed by merging erstwhile REDA (Rajasthan Energy Development Agency) and the Rajasthan State Power Corporation Ltd (RSPCL) in August 2002.
• The corporation is registered under the Companies Act 1956.
• RRECL is working as a State Nodal Agency for promoting & developing Non-conventional Energy Sources in the State and as a State Designated Agency (SDA) for enforcement of provisions of Energy Conservation Act 2001 in the State.