Tata Power on Monday announced the signing of a memorandum of understanding (MoU) with the Rajasthan government with an investment plan of around ₹1.2 lakh crore.
The MoU was signed during the ongoing Rising Rajasthan Investor Meet held in the national capital.
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, Tata Power said.
Of the total investment, around ₹75,000 crore is dedicated to renewable energy projects. The company plans to develop 10,000 megawatts (MW) of renewable energy capacity (including 6,000 MW of solar and 4,000 MW of hybrid) across Bikaner, Jaisalmer, Barmer and Jodhpur districts.
An advanced 2,000 MW solar module manufacturing facility with an investment of ₹2,000 crore in Jodhpur is also planned.
Besides, Tata Power will invest in the State transmission and distribution area to modernise the grid infrastructure, reduce energy losses and improve power quality across with investments of nearly ₹20,000 crore for distribution infrastructure and ₹10,000 crore for transmission systems.
The company is also exploring opportunities to develop nuclear power plant. It has also proposed ₹1,000 crore investment in setting up 1 lakh EV charging points across the State. Rooftop solar power for 10 lakh households to support the PM Surya Ghar Yojana is also part of the MoU.
Tata Power CEO and MD Praveer Sinha said, “By using our experience across the entire power sector value chain, we aim to support Rajasthan’s energy goals and create economic opportunities for its people. We compliment the State government’s visionary leadership in positioning Rajasthan as a future-ready, energy-efficient State that provides secure, reliable and clean energy for all.”
The MoU will have a transformative socio-economic impact, creating over 28,000 direct jobs in Rajasthan. The company has already successfully commissioned 1 gigawatt (GW) of solar projects and 185 MW of wind projects in the State, along with 130 MW of rooftop solar installations.