RP Sanjiv Goenka Group to explore NE states for renewable energy project

The RP Sanjiv Goenka Group, with revenue exceeding USD 4 billion, has expressed interest in exploring investment opportunities in the Northeast, including renewable energy.

The group officials had a preliminary one-on-one meeting with the Minister of State for Development of North Eastern Region (DoNER), B L Verma.

He was in Kolkata for an investment roadshow for the northeast and met a few business houses from the region to understand the sectors and how the government can assist in taking forward the projects.

According to sources, the RP Sanjiv Goenka Group has expressed willingness to explore hydropower opportunities besides evaluating other sectors.

Hydropower holds immense potential in the Northeast. Arunachal Pradesh government already had signed MoUs with central public sector undertakings to construct 13 projects likely to generate 13,000 MW of power and draw investment worth Rs 1.4 lakh crore.

CESC Ltd, the flagship company of the group, had already announced that it was exploring possibilities to make substantial investments in renewable energy generation of up to 3 GW in a hybrid portfolio through its subsidiaries in more than one state in the country.

The company's green ambition envisages a mix of solar, wind, and green hydrogen projects.

''We are carrying out a study exploring increasing our renewable energy footprint and partially meeting renewables purchase obligations of our distribution business,'' the company had said recently.

The company was looking to acquire over 50,000 acres of land in Rajasthan and Gujarat to fuel its 3 GW green energy dream with solar power.

About 250 acres in Bikaner is under physical possession and an application has been submitted for Rajasthan Renewable Energy Corporation registration and transmission connectivity is in advanced stages of acquisition for another 2,000 acres, the company had stated earlier.

The group has interests in business sectors including power (CESC), IT services First Source), carbon black (PCBL), retail (Spencer's), FMCG, real estate, education, and sports.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)