January 3 (Renewables Now) - Solar and wind projects of 350 MW in total by India’s Eden Renewables and Adani Group will be the first two bigs schemes to be implemented under a new policy for encouraging investments in Rajasthan.
Each of the two companies has proposed to develop one project that will be exempt from stamp duty and conversion charges under the new Rajasthan Investment Promotion Scheme (RIPS), the Times of India reports. The new scheme was launched in December 2019 and provides eligible entities a 100% exemption from electricity tax, stamp duties and conversion charges. Power duty reductions are also available for seven years.
According to the report, Eden Renewables plans to install a 300-MW photovoltaic (PV) park that will require an investment of INR 15.72 billion (USD 218.9m/EUR 196.6m). Domestic conglomerate Adani, meanwhile, has proposed to build a 50-MW wind farm with an estimated cost of INR 5 billion. The two projects are seen as a sign indicating the lucrativeness of Rajasthan’s new investment strategy, industries minister Parsadi Lal Meena was cited as saying.
(INR 10 = USD 0.139/EUR 0.125)