The United Arab Emirates (UAE) has signed a major investment memorandum with the Indian state of Rajasthan to develop a large-scale renewable energy project with a total capacity of 60 gigawatts (GW).
The project will mainly use solar, wind and hybrid energy in the western region of Rajasthan. The agreement is worth about 3 trillion rupees (about 36 billion US dollars) and is a key step in enhancing Rajasthan's renewable energy capabilities and helping India achieve its broader clean energy goals. The UAE Ministry of Investment said the agreement was reached based on a broader investment cooperation agreement between the UAE and India's Ministry of New and Renewable Energy.