Tata Power to invest ₹1.2 trillion in Rajasthan for power distribution, transmission and green transition

  • The plan includes 10 GW of renewable capacity, a 2 GW solar module plant, and 100,000 EV charging points, creating over 28,000 jobs and supporting Rajasthan's goal of becoming a power surplus state.

Rituraj Baruah
Published30 Sep 2024, 06:14 PM IST
Tata Power has till date commissioned 1 GW of solar projects, 185 MW of wind projects, and 130 MW of rooftop solar installations in Rajasthan. (File Photo: Bloomberg)
Tata Power has till date commissioned 1 GW of solar projects, 185 MW of wind projects, and 130 MW of rooftop solar installations in Rajasthan. (File Photo: Bloomberg)

Tata Power has signed a memorandum of understanding (MoU) with the Rajasthan government to develop power distribution, transmission, and green energy projects, marking a significant expansion of its renewable energy footprint in the state. 

The agreement, signed at the 'Rising Rajasthan Investor Meet' in the national capital on Monday, includes a wide range of initiatives, from solar module manufacturing and EV charging infrastructure to nuclear power and rooftop solar installations.

Tata Power aims to provide round-the-clock, clean, affordable, and reliable power, while also generating 28,000 jobs over the next decade. 

“This ambitious 10-year plan aims to support Rajasthan’s transformation into a power surplus state," the company said in a statement, highlighting investments across the entire power value chain, including renewable energy, transmission, and distribution.

Tata Power will invest 1.2 trillion, with 75,000 crore allocated to renewable energy projects, including 10 GW of capacity—6 GW solar and 4 GW hybrid—across Bikaner, Jaisalmer, Barmer, and Jodhpur. Additionally, the company plans to set up a 2 GW solar module manufacturing facility in Jodhpur with an investment of 2,000 crore.

Read this | Data explainer: India’s green energy goals face stiff test

To modernize the grid and reduce energy losses, 30,000 crore will be invested in upgrading transmission and distribution infrastructure. Tata Power is also exploring opportunities to develop a nuclear power plant and will invest 1,000 crore to establish 100,000 electric vehicle (EV) charging points across Rajasthan. The company plans to install rooftop solar systems for 1 million households under the PM Surya Ghar Yojana.

The initiative aligns with India’s target of achieving 500 GW of installed non-fossil capacity by 2030 and net-zero emissions by 2070. Tata Power emphasized the socio-economic impact of the MoU, stating that it will create over 28,000 direct jobs and bolster local industries in solar manufacturing and renewable energy innovations.

Read this | India’s renewable energy target may prove elusive without course correction

Already a major player in Rajasthan, Tata Power has till date commissioned 1 GW of solar projects, 185 MW of wind projects, and 130 MW of rooftop solar installations in the state. 

Shares of Tata Power closed at 482.70 apiece on Monday on the BSE, down 0.49% from previous close.

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First Published:30 Sep 2024, 06:14 PM IST
Business NewsCompaniesNewsTata Power to invest ₹1.2 trillion in Rajasthan for power distribution, transmission and green transition

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