{"id":87517,"date":"2024-10-23T00:00:00","date_gmt":"2024-10-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/10\/23\/uae-to-invest-in-60-gw-renewables-projects-in-india\/"},"modified":"2024-10-23T00:00:00","modified_gmt":"2024-10-23T00:00:00","slug":"uae-to-invest-in-60-gw-renewables-projects-in-india","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/10\/23\/uae-to-invest-in-60-gw-renewables-projects-in-india\/","title":{"rendered":"UAE to invest in 60 GW renewables projects in India"},"content":{"rendered":"

The UAE inked an investment MoU with the Rajasthan government to <\/strong>explore a 60 <\/strong>GW renewable energy project <\/strong>in the Indian state, focusing on solar, wind, and hybrid energy in Rajasthan's western district, according to a statement (pdf)<\/a>. The project has a total investment ticket of INR 3 tn (AED 131.1 bn), according to details picked up by the Economic Times<\/a>.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Background: <\/strong>The Investment Ministry signed an MoU with India\u2019s New and Renewable Energy in February<\/a> to ramp up investment in the renewable energy sector. <\/p>\n

The investment comes in a bid to contribute to India's climate goals<\/strong>, aiming to reduce carbon intensity by 45% by 2030 and achieving net-zero emissions by 2070. \u201cRajasthan, with its favorable climate and vast landmass, offers the ideal environment for this initiative,\u201d said Investment Minister Mohamed Hassan Alsuwaidi.<\/p>\n

What\u2019s next? <\/strong>The UAE will appoint a developer to implement the project, in collaboration with Indian authorities. <\/p>\n

The UAE and India have been ramping up energy cooperation: <\/strong>Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed\u2019s visit to India in September<\/a> led to some major energy agreements. Adnoc signed a 15-year agreement to supply 1 mn metric tonnes of LNG per year to IndianOil<\/a>, primarily sourced from its Ruwais LNG project. Adnoc also extended its oil storage agreement with India\u2019s Strategic Petroleum Reserve. In the nuclear energy arena, Emirates Nuclear Energy Corporation handed<\/a> India\u2019s Nuclear Power Corporation operation and maintenance rights for the Barakah nuclear power plant.<\/p>\n","protected":false},"excerpt":{"rendered":"

The UAE and India inked an MoU earlier this year to ramp up investment in the renewable energy sector<\/p>\n","protected":false},"author":1,"featured_media":87518,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[152],"tags":[11,151,88,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseclimate","tag-investment-watch","tag-renewables","tag-uae","wpautop","entry"],"acf":{"mongo_id":"c95dc080-9bba-42f8-9c44-cb85d4c4a9c8","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1980.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE to invest in 60 GW renewables projects in India","related_issue":[87512],"teaser":"The UAE and India inked an MoU earlier this year to ramp up investment in the renewable energy sector","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.62d6430c-b42d-4c86-8ab4-7083d50cb41a.mp3"},"yoast_head":"\nUAE to invest in 60 GW renewables projects in India - 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