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Tata Power commits ₹1.2 lakh crores to enhance Rajasthan's power infrastructure, focusing on renewable sources and grid modernisation.
Tata Power has formalised an expansive 10-year investment strategy with the Rajasthan government, promising a near ₹1.2 lakh crore infusion into the state's power distribution, transmission, and renewable energy sectors. This monumental agreement was inked at the Rising Rajasthan Investor Summit in New Delhi.
Under this MoU, Tata Power plans to invest:
Nearly ₹75,000 crore in renewable energy projects.
₹20,000 crore in enhancing the distribution network.
₹10,000 crore in upgrading transmission systems.
The strategy includes the development of 10,000 MW of renewable energy capacity, incorporating 6,000 MW from solar and 4,000 MW from hybrid sources. These projects are slated for execution across key districts such as Bikaner, Jaisalmer, Barmer, and Jodhpur.
Noteworthy within the MoU is the establishment of a state-of-the-art 2,000 MW solar module manufacturing facility in Jodhpur, with an investment of ₹2,000 crore. Additionally, Tata Power aims to modernise Rajasthan's grid infrastructure to minimize energy losses and enhance overall power quality.
Aligning with national clean energy goals, Tata Power will also spearhead the installation of 1 lakh EV charging points throughout Rajasthan, entailing an investment of ₹1,000 crore. Moreover, the plan includes equipping 10 lakh households with rooftop solar installations to support the PM Surya Ghar Yojana, fortifying the residential sector's energy independence.
This ambitious project is expected to generate over 28,000 direct jobs in Rajasthan, catalyzing growth in local industries related to solar manufacturing and renewable energy innovations. The substantial integration of renewable resources is anticipated to reduce energy costs, bolstering Rajasthan's appeal as a hub for sustainable industrial development and green investments.
Tata Power's strategic investment reaffirms its commitment to advancing renewable energy and enhancing power infrastructure in Rajasthan, thereby supporting India's transition towards a more sustainable and resilient energy future.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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