The Uttar Pradesh government has approved the setting up of an ultra mega renewable energy park with an investment of Rs 2,400 crore in the state.
The joint project will be set up by the Uttar Pradesh Non-Conventional Energy Development Agency (UPNEDA) and Tehri Hydro Development Corporation of India (THDC).
The state cabinet has approved the draft memorandum of understanding, the memorandum of association and articles of association for the JV.
The authorised share capital of the joint venture will be Rs 50 crore, of which UPNEDA will have 26% equity and THDCIL’s share will be 74%. UPNEDA’s grant in equity will be Rs 13 crore.
