Author: PPD Team Date: 13/02/2025
The Government of Karnataka (GoK) has signed multiple Memorandums of Understanding (MoUs) with various firms under the “Invest Karnataka-2025” summit to develop renewable energy (RE) projects in the state. The agreements, collectively valued at over Rs 3.37 trillion, focus on solar, wind, battery energy storage systems (BESS), and green hydrogen.
Key MoUs signed:
- JSW Neo Energy Private Limited (subsidiary of JSW Energy Limited) – Rs 560 billion for solar, wind, BESS projects, and a wind turbine generator and blade manufacturing plant.
- Tata Power Renewable Energy Limited (TPREL) – Rs 500 billion for RE power projects and rooftop solutions.
- ReNew Power Ventures Private Limited – Rs 500 billion for setting up 4,000 MW RE power projects.
- Serentica Renewables India Private Limited (SRIPL) – Rs 439.75 billion for RE power projects.
- Mahindra Susten – Rs 350 billion for RE power projects.
- Hero Future Energies (HFE) – Rs 222 billion for RE power projects, including green hydrogen and its derivatives.
- Suzlon Energy Limited (SEL) – Rs 219.5 billion for wind power projects.
- Essar Power Limited (EPL) – Rs 200 billion for RE power projects.
- Avaada Power Private Limited – Rs 180 billion for RE power projects.
- O2 Power – Rs 100 billion for solar and wind power projects.
- Continuum Green Energy (India) Private Limited – Rs 100 billion for RE power projects.
These investments are expected to strengthen Karnataka’s renewable energy sector and contribute to its clean energy goals.