Tata Power has inked an initial pact with the Rajasthan government for a 10-year plan involving investment to the tune of Rs 1.2 lakh crore, including Rs 75,000 crore in green energy, to transform the state’s power sector.
The ambitious 10-year plan aims to support Rajasthan’s transformation into a power surplus state, providing 24/7 clean, affordable, and reliable power supply.
The MoU will place Rajasthan at the heart of the nation’s clean energy transition, contributing significantly to India’s energy goals, Tata Power said in a press release.
The 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, Tata Power said.
Investments will be made in renewable energy projects and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging, a company statement said.
According to plans an amount of Rs 20,000 crore will be invested in the state transmission and distribution area to modernise 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.
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 was signed during the ‘Rising Rajasthan’ Investor Meet in New Delhi on September 30. The MoU will help in creating over 28,000 direct jobs in the state.
“Tata Power will strengthen the growth of local industries in areas such as solar manufacturing, infrastructure development, and renewable energy innovations. In addition, the large-scale integration of renewables will lower energy costs for industries and consumers, making Rajasthan an attractive destination for green investments and sustainable industrial development,” the company said.
Tata Power has already established a significant footprint in Rajasthan, and 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.
