Latest News | Tata Power Commits Rs 1.2 Lakh Cr Investment in Rajasthan

New Delhi, Sep 30 (PTI) Tata Power on Monday said it has inked an initial pact with the Rajasthan government for investment of Rs 1.2 lakh crore, including Rs 75,000 crore 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.

Also Read | Stock Market Holidays in October 2024: Know When Stock Market Will Remain Open and Closed for Trading on BSE and NSE.

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 on Monday.

Also Read | Bank Holidays in October 2024: From Gandhi Jayanti to Navratri, Banks To Remain Closed for 15 Days Next Month; Check Complete List of Bank Holiday Dates.

An amount of Rs 20,000 crore 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, Rs 10,000 crore will be invested for transmission systems exploring opportunities to develop nuclear power plant.

Nearly Rs 75,000 crore will be for renewable energy projects.

An investment of Rs 1,000 crore has been earmarked for setting up 1 lakh EV charging points across Rajasthan.

Rooftop solar power for 10 lakh 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.

Tata Power already has a significant footprint in Rajasthan, with a robust portfolio of energy projects. The company has commissioned 1 GW of solar projects and 185 MW of wind projects in the state, along with 130 MW of rooftop solar installations.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)