Tata Power said it has inked an initial pact with the Rajasthan government for investment of Rs 1.2 trillion, including £7.5 bn in green energy, in the state's power sector. The 10-year plan aims to support Rajasthan's transformation into a power surplus state, providing 24/7 clean, affordable, and reliable power supply.
Investments will be made in renewable energy projects and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging, a company statement said.
The MoU was signed during the 'Rising Rajasthan' Investor Meet in New Delhi.
An amount of £2 bn will be invested in the state transmission and distribution area to modernize the grid infrastructure, reduce energy losses, and improve power quality across the state. Besides, £1 bn will be invested for transmission systems exploring opportunities to develop nuclear power plant.
An investment of £100 mn has been earmarked for setting up 100,000 EV charging points across Rajasthan. Rooftop solar power for 10,00,000 households will support the PM Surya Ghar Yojana.
The MoU will have a transformative socio-economic impact, creating over 28,000 direct jobs in the state.
