Rana Holdings Plans to Develop 2GW Solar Project in Madhya Pradesh, India
en.Wedoany.com Reported - Rana Holdings, headquartered in the UAE and operating an electric vehicle manufacturing facility in India, has proposed developing a 2GW solar PV project portfolio in Madhya Pradesh, India. This is part of the company's planned INR 352 billion (approximately USD 4 billion) multi-sector investment plan in the state.
The proposal was discussed at a meeting under Madhya Pradesh's "Invest Madhya Pradesh" initiative, with participants including Madhya Pradesh Chief Minister Mohan Yadav and Rana Holdings Chairman and Managing Director Darshan Singh Rana.
The proposed 2GW solar project portfolio will be Rana Holdings' first of its kind, accompanied by a 400MWh battery energy storage system (BESS). The broader investment plan also includes a 50MW AI and computing data center, which can be expanded to 200MW, as well as an integrated smart manufacturing center.
The company stated that these projects are planned to be distributed within a 700-acre industrial park, along with a separately proposed solar power plant covering approximately 8,000 acres. The entire plan will be implemented in phases over ten years and advanced through its renewable energy platform Erisha Green Energy, which is also the primary development vehicle for the proposed investment.
The Madhya Pradesh government stated that this investment will support the state's energy transition, advanced manufacturing, and digital infrastructure.
According to data from India's Ministry of New and Renewable Energy, as of early 2026, Madhya Pradesh had a cumulative installed solar capacity of 10.36GW, making it the state with the fifth-largest solar installation scale in India. The state's Renewable Energy Policy 2025 proposes that 50% of annual electricity demand come from clean energy by 2030, with an interim target of 30% by 2027; the policy also plans to attract INR 500 billion (approximately USD 6 billion) in renewable energy investment by 2027 and to build a 10GW renewable energy technology park.
Currently, companies including Fujiyama Power, Jakson, and INA Solar have announced plans to build module, wafer, and ingot manufacturing facilities in Madhya Pradesh. In May 2026, Indian public solar developer Rewa Ultra Mega Solar Limited (RUMSL) tendered 50MW and 200MW solar-plus-storage projects in the state, aiming to supply peak-hour electricity beyond daytime solar generation.
Last week, the Asian Development Bank (ADB) agreed to support Madhya Pradesh in developing three renewable energy projects through public-private partnership models, including a solar-plus-storage project in Shajapur. The initiative is expected to drive up to USD 1 billion in private investment.
