Tata Power pledges $1.43b to fuel Rajasthan’s energy sector

Amongst the areas for investment are renewable energy, nuclear, and transmission.

Tata Power has inked a memorandum of understanding with the Government of Rajasthan for a 10-year investment plan worth $1.43b (INR1.2 lakh crore) that will focus on strengthening the state's power sector.

According to Tata Power, the amount will fund investments in renewable energy projects (including solar, wind, hybrid, and battery energy storage systems), transmission, distribution, nuclear power, rooftop installations, and EV charging. 

One of the primary goals of the investment is building 10,000 megawatts (MW) of renewable energy capacity (including 6,000 MW solar and 4,000 MW hybrid) across Bikaner, Jaisalmer, Barmer, and Jodhpur. It also eyes a 2,000 MW solar module manufacturing facility in Jodhpur.

“This MoU is poised to make Rajasthan a leading renewable energy hub in India, supporting the country's ambitious target to install 500 GW [gigawatts] of renewable capacity by 2030 and achieve net-zero emissions by 2070,” Tata Power said. 

“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,” it added.

The deal is expected to create over 28,000 direct jobs in Rajasthan.

Tata Power has 1.285 GW of renewable energy projects in Rajasthan, including solar and wind.

$1 = INR83.81