The Rajasthan Cabinet, chaired by Chief Minister Bhajanlal Sharma, approved establishing four joint venture companies focused on renewable and thermal power generation and transmission. The Cabinet also approved the development of metro rail projects under a joint venture with the central government, which is in line with the Metro Rail Policy 2017.
Following an MoU signed with various central public sector companies on March 10, 2024, the state Cabinet approved the formation of joint ventures with central public sector units. These ventures will have a 26% stake from state government companies and 74% from central government undertakings.
Two joint ventures will be established between Coal India Limited and RVUNL, focusing on thermal and renewable energy projects. Another joint venture with NTPC Green Energy and RVUNL will develop 25,000 MW of renewable energy projects, including solar, wind, and hybrid energy, with an investment of Rs 1 trillion.
Furthermore, the Cabinet approved the creation of an Infrastructure Investment Trust (InvIT) by Rajasthan Vidyut Prasaran Nigam Limited to monetize operational transmission assets, in line with guidelines from the Union Energy Ministry. The InvIT will be registered with SEBI.