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MoUs worth Rs7.38 lakh crore for Gujarat’s energy sector

The energy sector literally powered the first day of Vibrant Gujarat Summit 2011, which commenced at Mahatma Mandir in Gandhinagar on Wednesday.

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The energy sector literally powered the first day of Vibrant Gujarat Summit 2011, which commenced at Mahatma Mandir in Gandhinagar on Wednesday.

The sector attracted Memorandum of Understanding (MoU) worth a whopping Rs7.38 lakh crore, accounting for almost half of the total MoUs signed on the first day of the mega investment event.

Leading corporates in the energy sector - Reliance, Essar, Adani, Torrent, just to name a few - were among those who signed MoUs with the state government, promising massive investments, and in the process, creating lakhs of jobs.

The power sector attracted 323 MoUs totalling a massive Rs6.25 lakh crore investment proposals, while the oil & gas sector attracted 26 MoUs with investment proposals of Rs1.13 lakh crore. Many of the large-sized MoUs were signed in the presence of chief minister Narendra Modi.

DJ Pandian, principal secretary, energy & petrochemicals department, said that 53 MoUs, amounting to Rs3.38 lakh crore and envisaging power generation capacity of more than 60,000 MW, were signed for conventional power sector.

Among the majors, Reliance Power has proposed to setup power projects of 7,200 MW at an investment of Rs30,000 crore, Adani Power has proposed 6,560 MW power projects at an investment of Rs38,000 crore, while GVK Energy has proposed Rs30,000 crore investment for 6,000 MW projects.

Other companies which signed MoUs for conventional power projects include OPG Power (5,400 MW, Rs25,600 crore), SPR Infrastructure (2,640 MW, Rs15,000 crore), Vandana Power (2,400 MW, Rs10,000 crore), Torrent Power (1,980 MW, Rs10,000 crore), Jindal Power (1,980 MW, Rs11,000 crore), Essar Power (1,920 MW, Rs9,280 crore), Sintex Power (1,720 MW, Rs8,000 crore), among others.

The sheer scale of the MoUs can be gauged from the fact that the capacity additions proposed are five times the existing power generation capacity in Gujarat, and almost 35% of the current total power generation capacity of 1.67 lakh MW in the country.
In line with the state government's increasing focus on green energy, the renewable energy sector also attracted MoUs and EoIs of Rs2.78 lakh crore.

Seventy-two MoUs for solar, wind power and tidal power generation, proposing capacity of 7,850 MW at an investment of Rs64,000 crore, were also signed today. The 144 EoIs for renewable energy sector envisage capacity of 18,800 MW at an investment of Rs2.14 lakh crore.

Reliance Industries Limited signed an MoU announcing investment of Rs50,000 crore at its Jamnagar refinery and for developing PDPU as a world-class university.

ONGC announced investment of Rs17,700 crore at its Ahmedabad, Mehsana and Ankleshwar assets over the next three to four years.

Essar Oil signed MoU promising investment of Rs15,000 crore at its Jamnagar refinery. GSPL announced investment of Rs12,000 crore for transporting gas from Gujarat to Jammu. GSPC proposed investment of Rs5,000 crore, while GSPC Oilex also proposed investment of Rs2,700 crore.

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