 "Tata Power to invest $14.3 billion in Rajasthan over next 10 years")
Tata Power on Monday said it has inked an initial pact with the Rajasthan government for investment of Rs 1.2 trillion, including Rs 75,000 crore in green energy, in the state's power sector.
The 10-year plan aims to support Rajasthan's transformation into a power surplus state, providing 24/7 clean, affordable, and reliable power supply.
Investments will be made in renewable energy projects and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging, a company statement said.
The MoU was signed during the 'Rising Rajasthan' Investor Meet in New Delhi on Monday.
An amount of Rs 20,000 crore will be invested in the state transmission and distribution area to modernize the grid infrastructure, reduce energy losses, and improve power quality across the state.
Besides, Rs 10,000 crore will be invested for transmission systems exploring opportunities to develop nuclear power plant.
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Nearly Rs 75,000 crore will be for renewable energy projects.
An investment of Rs 1,000 crore has been earmarked for setting up 1 lakh EV charging points across Rajasthan.
Rooftop solar power for 10 lakh households will support the PM Surya Ghar Yojana.
The MoU will have a transformative socio-economic impact, creating over 28,000 direct jobs in the state.
Tata Power already has a significant footprint in Rajasthan, with a robust portfolio of energy projects. The company has commissioned 1 GW of solar projects and 185 MW of wind projects in the state, along with 130 MW of rooftop solar installations.