Tata Power Signs MoU with Rajasthan Govt. for Rs. 1.2 Lakh Cr. Investment Plan
Tata Power Company Limited has signed a Memorandum of Understanding (MoU) with Government of Rajasthan for investing about Rs. 1.2 lakh crore over the next 10 years. This information was shared by Tata Power in its press release dated 30th September 2024.
Tata Power to Invest in Rajasthan’s RE Projects: Focus on T&D, RE & EV Infrastructure
Tata Power’s investment will be directed towards development of Transmission & Distribution (T&D) projects, Renewable Energy (RE) projects, and Electric Vehicle (EV) charging points in Rajasthan. Further, this investment will also include exploring opportunities for setting-up a nuclear power plant the state. The company also mentioned that these projects together will generate about 28,000 direct job opportunities in Rajasthan.
Major Investment in Renewable Energy Development
Tata Power mentioned in its press release that out of the total investment, Rs. 75,000 crore will be for developing RE projects in Rajasthan. The company will develop 10,000 MW of RE projects across Bikaner, Jaisalmer, Barmer, and Jodhpur. These RE projects will consist of 6,000 MW of solar projects and 4,000 MW of hybrid energy projects in Rajasthan.
Additionaly, Tata Power will also be investing Rs. 2,000 crore for setting-up a solar module manufacturing plant in Jodhpur. As per company’s press release, this upcoming plant is expected to produce 2,000 MW of solar power modules annually.
Investment to Enhance Power Distribution & Installing EV Charging Points
The company will also be investing Rs. 20,000 crore for setting-up power distribution infrastructure and Rs. 10,000 crore for installing transmission systems in Rajasthan. Tata Power expects this investment to “…modernize the grid infrastructure, reduce energy losses, and improve power quality across the State”.
Apart from T&D projects, Tata Power will direct Rs. 1,000 crore out of the total investment towards installing 1 lakh EV charging points in Rajasthan.
Tata Power’s Investments in Nuclear & Rooftop Solar Initiative
Tata Power will also be exploring options for developing a nuclear power plant in Rajasthan. Further, it also includes installing rooftop solar panels for 10 lakh households under PM Surya Ghar Yojana.
“Aim to Support Rajasthan’s Energy Goals & Create Economic Opportunities”-Tata Power’s MD
Dr. Praveer Sinha, CEO & MD, Tata Power, said, “….We aim to support Rajasthan’s energy goals and create economic opportunities for its people”. He added that this investment will position Rajasthan to provide “secure, reliable, and clean energy for all”.
Tata Power already has a strong presence in Rajasthan with an extensive portfolio of energy projects. The company has successfully commissioned 1 GW of solar projects, 185 MW of wind projects, and 130 MW of rooftop solar installations in the state.
