Tata Power to invest ₹1.2 Lakh Crore in power sector

1 Oct 2024 , 06:14 PM

On September 30, Tata Power said that it has signed a Memorandum of Understanding (MoU) with the Rajasthan state government for a 10-year plan worth over ₹1.2 Lakh Crore in power distribution, transmission, and renewables.

This ambitious 10-year plan aims to help Rajasthan become a power surplus state by investing in renewable energy projects, nuclear power, transmission, manufacturing, distribution, rooftop installations, and EV charging. The MoU will place Rajasthan at the forefront of the country’s clean energy transformation, significantly contributing to India’s energy ambitions, according to a news statement from Tata Power.

The agreement calls for extensive 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, such as solar, wind, hybrid, and battery energy storage systems (BESS), including rooftop solar and EV charging, according to Tata Power.

The company will cover the following as part of the MoU:

Investment of about ₹1.2 Lakh Crore, with nearly ₹75,000 Crore devoted to renewable energy projects.

The project aims to construct 10,000 MW of renewable energy capacity (6,000 MW solar and 4,000 MW hybrid) in Bikaner, Jaisalmer, Barmer, and Jodhpur. Additionally, a 2,000 MW solar module manufacturing plant would be established in Jodhpur with an expenditure of ₹2,000 Crore.

Investing roughly ₹20,000 Crore in distribution facilities and ₹10,000 Crore in transmission systems will modernise the grid infrastructure, minimise energy losses, and improve electricity quality throughout the state.

Proposed investment of ₹1,000 Crore in establishing up 1 Lakh EV charging outlets in Rajasthan and rooftop solar power for 10 Lakh families to support PM Surya Ghar Yojana.

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