Tata Power inks MoU with Rajasthan Govt

Tata Power said that it has signed memorandum of understanding (MoU) with the Rajasthan government for an investment plan of approximately Rs 1.2 lakh crore in power distribution, transmission, and renewable.

This ambitious 10-year plan aims to support Rajasthan's transformation into a power surplus state, providing 24/7 clean, affordable, and reliable power supply with investments in renewable energy projects and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging.

The company will invest Rs 1.2 lakh crore, with Rs 75,000 crore allocated to renewable energy projects, including 10,000 MW of capacity 6,000 MW solar and 4,000 MW hybrid to be developed across Bikaner, Jaisalmer, Barmer, and Jodhpur.

 

Additionally, the company plans to set up a 2,000 MW solar module manufacturing facility in Jodhpur with an investment of Rs 2,000 crore.

The company will invest in state transmission and distribution area to modernize the grid infrastructure, reduce energy losses, and improve power quality across the state with investments of nearly Rs 20,000 crore for distribution infrastructure and Rs 10,000 crore for transmission systems Exploring opportunities to develop Nuclear power plant.

The company will proposed Rs 1,000 crore investments in setting up 1 lakh EV charging points across Rajasthan to make the state a key player in the countrys transition to e-mobility

The MoU will have a transformative socio-economic impact, creating over 28,000 direct jobs in the State

This agreement involves comprehensive investment across the power value chain, from generation to transmission and distribution (T&D) reforms, as well as cutting-edge renewable energy projects across the state, including solar, wind, hybrid, and battery energy storage systems (BESS) including rooftop solar and EV Charging.

Praveer Sinha, CEO & MD, Tata Power, said, Our partnership with the Government of Rajasthan is a testament to our shared vision of building a low-carbon, resilient, and integrated energy ecosystem in the State. By using our experience across the entire power sector value chain, we aim to support Rajasthans energy goals and create economic opportunities for its people. We compliment the State Governments visionary leadership in positioning Rajasthan as a future-ready, energy-efficient State that provides secure, reliable, and clean energy for all.

Tata Power has already established a significant footprint in Rajasthan, with a robust portfolio of energy projects. The company has successfully commissioned 1 GW of solar projects and 185 MW of wind projects in the state, along with 130 MW of rooftop solar installations.

Shares of Tata Power rose 0.73% to Rs 486.20 on the BSE.

Powered by Capital Market - Live News