Tata Power Seals ₹1.2 Lakh Crore MoU for Rajasthan's Renewable Energy Push

1 Oct 2024 , 11:03 AM

Tata Power signed an MoU with the Rajasthan government on September 30, outlining a 10-year investment plan worth nearly ₹1.2 lakh Crore in power distribution, transmission, and renewable energy.

The plan focuses on transforming Rajasthan into a power surplus state by ensuring round-the-clock clean, affordable, and reliable electricity supply.

A major portion of the investment, ₹75,000 Crore, is directed towards renewable energy projects, highlighting a strong push for sustainable development.

The plan includes the development of 10,000 MW of renewable energy capacity, comprising 6,000 MW of solar and 4,000 MW of hybrid energy (solar and wind) in regions such as Bikaner, Jaisalmer, Barmer, and Jodhpur.

A new solar module manufacturing facility with a capacity of 2,000 MW will be built in Jodhpur with a planned investment of ₹2,000 Crore.

Tata Power will allocate ₹20,000 Crore towards modernizing the state’s distribution infrastructure, reducing energy losses, and improving power quality.

An additional ₹10,000 Crore will be invested in upgrading transmission systems to enhance the efficiency and reliability of energy distribution.

Tata Power is exploring the possibility of developing a nuclear power plant as part of its energy strategy in Rajasthan.

A ₹1,000 Crore investment is planned to establish 1 lakh EV charging stations across Rajasthan, promoting the adoption of electric vehicles in the state.

The company aims to install rooftop solar panels for 10 lakh households, supporting the PM Surya Ghar Yojana and encouraging residential clean energy generation.

The MoU is expected to generate over 28,000 direct jobs in Rajasthan, fostering socio-economic growth in the region.

Local industries will benefit from this initiative, with growth expected in sectors like solar manufacturing, infrastructure development, and renewable energy innovations.

The large-scale integration of renewable energy will reduce electricity costs for consumers and businesses, making Rajasthan a key destination for green investments and sustainable industrial growth.

Tata Power already has a strong footprint in Rajasthan, having commissioned 1 GW of solar projects, 185 MW of wind projects, and 130 MW of rooftop solar installations across the state.