Tata Power to Invest Rs.1.2 Lakh Crore in Rajasthan

01 Oct 2024 CW Team

Tata Power has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan to invest Rs.1.2 lakh crore over the next 10 years, aiming to transform the state into a power surplus region. The MoU was signed during the Rising Rajasthan Investor Meet in New Delhi, in the presence of Rajasthan Chief Minister Bhajan Lal Sharma.

This significant investment will prioritize renewable energy, with Rs.750 billion dedicated to developing 10,000 MW of renewable capacity. This includes 6,000 MW of solar and 4,000 MW of hybrid power, spanning key regions like Bikaner, Jaisalmer, Barmer, and Jodhpur. Tata Power also plans to invest Rs.20 billion in a 2,000 MW solar module manufacturing facility in Jodhpur and Rs100 billion to install 1 lakh electric vehicle (EV) charging points across the state.

Dr. Praveer Sinha, CEO & MD of Tata Power, emphasized the shared vision of building a low-carbon and resilient energy ecosystem in Rajasthan. The investment also includes Rs.200 billion for modernizing the state's distribution infrastructure and Rs100 billion for transmission systems.

Tata Power's initiative aligns with India’s goal of achieving 500 GW of renewable energy capacity by 2030 and net-zero emissions by 2070. These projects are set to create over 28,000 jobs in Rajasthan, reduce energy costs, and support local industries. Tata Power has already commissioned 1 GW of solar and 185 MW of wind projects in the state, reinforcing Rajasthan's position as a renewable energy hub.

The agreement also explores nuclear power development and rooftop solar installations for 10 lakh households under the PM Surya Ghar Yojana, further bolstering Rajasthan’s green energy leadership.

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