Context:

• Recently, the Government of Rajasthan signed an agreement with NTPC Renewable Energy Limited in Jaipur for the development of a 10,000 MW Ultra Mega Renewable Energy Power Park (UMREPP) in Rajasthan.

Key Points:

• The agreement was signed On July 1, 2022.
• NTPC Renewable Energy Limited is NTPC’s (National Thermal Power Corporation Limited) branch.
• According to Rajasthan Power Minister Bhanwar Singh Bhati, that the availability of adequate quantity of unused wasteland in the state and the availability of the country's highest solar radiation also attracts private investors in the state.
• Principal Secretary (Energy) Bhaskar A Sawant, speaking on the occasion, said that due to the setting up of renewable energy projects by private investors in Rajasthan, employment opportunities are also being created at the local level along with the increase in the land rate of farmers.
• Mohit Bhargava, CEO, NTPC Energy Limited, said that an investment of about Rs 50,000 crore will be made on setting up the project.
• NTPC Renewable Energy Limited will set up Ultramega Renewable Energy Power parks in the state.
• NTPC Limited is a 100% subsidy company, which is designed to take the renewable energy sector business forward.
• At present, Rajasthan ranks first in the country in the renewable energy sector with the setting up of 18,701 MW capacity projects across the country.
• Solar projects of 13,332 MW capacity have been set up in the state.