Tata Power Signs MoU with Rajasthan Government for Investment of INR 1.2 Lakh Crores
This ambitious 10-year plan aims to support Rajasthan's transformation into a power surplus state, providing 24/7 clean, affordable, and reliable power supply with investments in renewable energy projects and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging.
October 01, 2024. By News Bureau
This ambitious 10-year plan aims to support Rajasthan's transformation into a power surplus state, providing 24/7 clean, affordable, and reliable power supply with investments in renewable energy projects and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging. The MoU will place Rajasthan at the heart of the nation's clean energy transition, contributing significantly to India's energy goals.
This agreement involves comprehensive 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, including solar, wind, hybrid, and battery energy storage systems (BESS) including rooftop solar and EV Charging.
Dr. Praveer Sinha, CEO & MD, Tata Power, said, “Our partnership with the Government of Rajasthan is a testament to our shared vision of building a low-carbon, resilient, and integrated energy ecosystem in the State. By using our experience across the entire power sector value chain, we aim to support Rajasthan’s energy goals and create economic opportunities for its people. We compliment the State Government’s visionary leadership in positioning Rajasthan as a future-ready, energy-efficient State that provides secure, reliable, and clean energy for all.
This MoU is poised to make Rajasthan a leading renewable energy hub in India, supporting the country's ambitious target to install 500 GW of renewable capacity by 2030 and achieve net-zero emissions by 2070. By enabling Rajasthan to tap into its immense solar potential, Tata Power is not only supporting the State but also positioning India as a global leader in clean energy.
This will have a transformative socio-economic impact, creating over 28,000 direct jobs in the State. Tata Power will strengthen the growth of local industries in areas such as solar manufacturing, infrastructure development, and renewable energy innovations. In addition, the large-scale integration of renewables will lower energy costs for industries and consumers, making Rajasthan an attractive destination for green investments and sustainable industrial development.
Tata Power has already established a significant footprint in Rajasthan, with a robust portfolio of energy projects. The company has successfully commissioned 1 GW of solar projects and 185 MW of wind projects in the state, along with 130 MW of rooftop solar installations.
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