India’s largest integrated power company, tata powerhas signed a Memorandum of Understanding (MoU) with the Government of Rajasthan to invest a whopping amount of Rs 1.2 lakh crore in transforming the state’s power sector.
The MoU was signed during the Rising Rajasthan investors meet in New Delhi in the presence of Chief Minister Bhajan Lal Sharma; Colonel Rajyavardhan Rathore, Minister for Industry and Commerce of Rajasthan; and senior officials of the Government of Rajasthan.
The 10-year investment plan aims to support Rajasthan’s transformation into an energy surplus state by providing clean, affordable and reliable 24/7 energy supply with investments in projects renewable energy and manufacturing, transmission, distribution, nuclear energy, rooftop installations and electric vehicles. charging.
Key focus on renewable energy
A significant portion of this investment, approximately Rs 75,000 crore, will go towards renewable energy initiatives.
Tata Power plans to develop 10,000 MW of renewable energy capacity in various districts including Bikaner, Jaisalmer, Barmer and Jodhpur. This includes 6,000 MW of solar energy and 4,000 MW of hybrid energy projects.
The MoU also includes setting up of a 2,000 MW solar module manufacturing facility in Jodhpur, which will further strengthen India’s domestic solar manufacturing capabilities.
Dr Praveer Sinha, CEO and CEO, Tata Power, said: “Our partnership with the Government of Rajasthan is a testament to our shared vision of building an integrated, resilient and low-carbon energy ecosystem in the state. By utilizing our expertise across the energy sector value chain, we aim to support Rajasthan’s energy goals and create economic opportunities for its people.”
Improving transmission and distribution infrastructure
Beyond renewable energy, Tata Power has committed significant resources to modernize Rajasthan’s energy infrastructure. The company plans to invest Rs 20,000 crore to improve the state’s distribution systems, with an aim to reduce power losses and improve power quality.
An additional Rs 10,000 crore is earmarked for improvements in transmission infrastructure. These investments are expected to improve the reliability of the state’s energy grid and ensure the continued supply of clean, affordable electricity to both homes and industries.
Subscribe to our newsletter for a daily summary of the startup ecosystem.
Commitment to electric mobility and rooftop solar energy
Tata Power also plans to support Rajasthan’s transition to electric mobility by investing Rs 1,000 crore to establish 1 lakh electric vehicle (EV) charging points across the state. This will play a crucial role in reducing carbon emissions and encouraging the adoption of electric vehicles in the region.
Additionally, Tata Power has committed to install rooftop solar power systems for 10 lakh households under the Prime Minister Surya Ghar Yojana. These facilities will promote distributed renewable energy generation, providing clean, affordable energy directly to homes across the state.
Notably, the MoU is set to make Rajasthan a major renewable energy hub in India, supporting the country’s goal of installing 500 GW of renewable capacity by 2030 and achieving net-zero emissions by 2070.
Creating more than 28,000 direct jobs
The MoU is expected to create over 28,000 direct jobs in Rajasthan, further boosting local economic growth. This large-scale investment will benefit various industries such as solar energy manufacturing, infrastructure development and renewable energy innovation, making Rajasthan an attractive destination for green investments.
The socioeconomic impact of this collaboration is likely to extend beyond the energy sector. By integrating renewable energy at scale, Tata Power aims to reduce energy costs for both consumers and industries, encouraging sustainable industrial development in Rajasthan.
Tata Power presence in Rajasthan
Tata Power already has a significant presence in Rajasthan, having commissioned 1 GW of solar projects and 185 MW of wind projects, along with 130 MW of rooftop solar installations.
The company also operates the Ajmer distribution network, serving over 1 lakh customers with reliable power.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.