Tata Power to invest Rs 1.2 trillion in renewable energy in Rajasthan

Tata Power has announced an investment of Rs 1.2 lakh crore in Rajasthan in various renewable energy related projects including rooftop solar installation and electric vehicle charging infrastructure.

Speaking at the Rising Rajasthan Global Investment Summit which started on Monday, CEO and MD of the company Praveer Sinha said the company's investment roadmap was aimed at making Rajasthan a power surplus state through a range of initiatives.

"Tata Power's clean energy roadmap for the state would significantly contribute to India's goal of becoming net-zero carbon by 2070 and the state's ambition to emerge as the next clean energy hub in the country," Sinha told reporters after the inauguration ceremony.

The initiatives include renewable energy projects with Rs 75,000 crore investment (comprising solar, wind and hybrid projects across key regions like Bikaner, Jaisalmer, and Jodhpur); rooftop solar, transmission and distribution, and EV charging infrastructure.

"The investment is expected to generate 28,000 jobs and deliver round-the-clock, clean, affordable power to the people of Rajasthan," a release from the company later said.

Home to the largest solar parks in the country, Rajasthan is among the top states in terms of installed renewable capacity. The solar capacity in the state surpasses 18 GW, making it a leading state in India.

"The state is well poised to play a critical role in achieving India's goal of 500 GW of renewable energy capacity by 2047. Currently, Tata Power has renewable installations of over 1,000 MW in solar and 185 MW in wind energy.

Under its "Ghar Ghar solar initiative", Tata Power will target 10 lakh households for rooftop solar installations, executing approximately 50,000 installations rooftop per month, the release said.