Madhya Pradesh Plans Three New Floating Solar Projects Worth INR 7,500 Cr Investment

• The info was shared by state officials on the very first day of 'Invest Madhya Pradesh-Global Investors Summit' that is being held in Indore.
• The three floating solar plants remain in addition to the 600 MW floating solar project already being developed at Omkareshwar Dam in Khandwa district.

Officials existing in among the sessions on the very first day of 'Invest Madhya Pradesh-Global Investors Summit' that is being held in Indore, stated that the advancement deal with three floating solar energy plants on water reservoirs in the state of Madhya Pradesh is about to commence. The investment into the three floating solar power projects will be INR 7,500 crore. No further details was shared by the officials about the floating solar projects.

New and also Renewable Energy Minister of Madhya Pradesh, Hardeep Singh Dang, stated that a floating solar power project is already being created at Omkareshwar Dam in Khandwa district having a capacity of 600 MW. The minister apprised that greater than 60,000 MW of solar energy projects as well as virtually 5,000 MW of wind power projects are being executed in Madhya Pradesh.

Dang mentioned, "There is an opportunity of establishing 60,000-megawatt solar, 15,000-megawatt wind, and other renewable energy-based projects."

Sanjay Dubey, Principal Secretary, Energy as well as Renewable Energy Department, MP, that chaired the session, additionally said that 128 company residences used proposals to invest in the RE industry of the state. Dang said that investors will not face any sort of problem if they set up their facilities in Madhya Pradesh.

Capitalists were mainly attracted to the 950 MW solar power projects in Chhatarpur and 1400 MW solar projects in Morena. The Madhya Pradesh Government is likewise expecting a robust investment of Rs 90,000 crore in pumped-hydro projects. In a recent growth, Hyderabad-based clean energy firm Greenko Group is readied to invest Rs 10,000 crores in a Pumped Storage Project (PSP) also in Neemuch district of Madhya Pradesh.

The state wants to establish 20,000 MW of sustainable projects by 2027. State Minister Hardeep Singh Dang held that Madhya Pradesh is mulling to add fifty percent of India's 500 GW target in renewable energy, a target set by Head of state Narendra Modi.