Bhopal, Feb 24 (PTI) Madhya Pradesh Chief Minister Mohan Yadav on Monday invited private players to invest in the renewable energy sector of the state, which presents great opportunities for growth.

In his address at the 'Renewed Madhya Pradesh' event, a part of MP Global Investors Summit (GIS) 2025, Yadav said the state will play a major role in achieving India's goal of 500 GW of power from non-fossil energy sources by 2030.

"Renewable energy is a big market and the government of Madhya Pradesh is willing to make you a partner in this journey," he told the gathering.

Many companies in the renewable sector announced investments to the tune of thousands of crore of rupees in the state with Yadav assuring support of the state government in the execution of the projects.

He highlighted that the state is paying huge amounts of power subsidies to the tune of Rs 25,000 crore to Rs 26,000 crore to farmers and households.

The state is aiming to provide solar water pumps to farmers as part of its commitment to promote renewable energy.

Yadav also announced that the state will supply cheaper 'green' electricity to Railways and an MoU has been signed in this regard.

A power purchase agreement between Railways, Waaree Energies and Rewa Ultra Mega Solar Ltd (RUMSL) for 170 MW was signed on Monday.

Earlier in the day, Prime Minister Narendra Modi inaugurated the MP Global Investors Summit (GIS) 2025, which received more than 25,000 registrations.

Besides, over 100 foreign delegates from more than 50 countries, including ambassadors, high commissioners and consuls general, are expected in the summit being held from February 24-25, 2025.

India's top industrialists, including Adani Group Chairman Gautam Adani, are listed to attend the summit. PTI MJH RKL DRR

Renewable energy investment policy invites private partners with state facilitated PPAs and green electricity supply arrangements. State policy invites private investment into the renewable energy sector with government facilitation for project execution, provision of solar water pumps to farmers, and continued consumer subsidies. The state has formalised transactional mechanisms to procure and supply green electricity, including a power purchase agreement and a memorandum of understanding for renewable power offtake, creating contractual and policy pathways for private participation under state support.