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The Rajasthan government has approved signing a memorandum of understanding with SJVN for developing 10,000 MW of renewable energy projects in the state at an investment of Rs 500 billion. Nand Lal Sharma, Chairman and Managing Director of SJVN Ltd, said the company will establish the renewable energy projects on land banks to be allocated by Rajasthan Renewable Energy Corporation Ltd. The investment will be spread over the next five to seven years. With this latest addition, the portfolio of the company has grown tremendously from 32,000 MW to 42,000 MW. We are partnering in meeting the twin challenge of 'Power to All' and 50 per cent energy from non-fossil fuel-based energy resources by 2030 as envisaged by the government, Sharma said. Earlier this year, SJVN exchanged letters of intention for development of renewable energy in the state in next five years. Recently, Rajasthan became the first state in India to reach 10 GW cumulative large-scale solar installations. This addition in the portfolio will catapult SJVN closer to achieving the shared vision of 5,000 MW by 2023, 25000 MW by 2030 and 50,000 MW by 2040. See also: Bhopal issues tender for solar projectsJSW Energy to purchase renewable assets from Mytrah Energy