Rajasthan government and Tata Power announced that they had reached an initial deal for the company to spend ₹1.2 trillion in the state’s power industry, including ₹75,000 crore in green energy.
A 10-year power plan to make Rajasthan a power surplus state aims to change and transform its face by providing its people and businesses with a clean, affordable, and reliable power supply 24 hours a day. This ambitious initiative will drive the region’s economic growth.
The company said in the statement that investments will be made in renewable energy projects, manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging. This comprehensive approach to power generation and infrastructure development will propel Rajasthan as a leader in sustainable energy.
The MoU was signed during Monday’s ‘Rising Rajasthan’ Investor Meet in New Delhi. The meeting displayed the state’s commitment to attracting significant investments to propel economic development.
320 billion is targeted in the state transmission and distribution area for modernizing grid infrastructure, reducing energy losses, and enhancing power quality to benefit people across the state. This is a prerequisite to ensure access to reliable electricity for all 1.35 billion residents.
Besides, ₹10,000 crore will be invested in transmission systems, with an opportunity explored to develop a nuclear power plant to ensure energy mix diversification. Nearly ₹75,000 crores will be allocated for renewable energy projects, which are integral for sustainable development.
₹1,000 crores have been allocated to set up 1 lakh EV charging points in the State of Rajasthan; demand for electric vehicles is undoubtedly up and on the rise. Rooftop solar power will be provided for 10 lakh households in support of the PM Surya Ghar Yojana.
The MoU will have a transformative socio-economic impact, generating more than 28,000 direct jobs for the state’s people. In Rajasthan, Tata Power already has a strong footprint and a robust portfolio of energy projects. The company has commissioned 1 GW of solar projects, 185 MW of wind projects in the state, and 130 MW of rooftop solar installations.
