Tata Power announces INR 1.2 lakh Cr Investment Plan with INR 75000 Cr for 10,000MW Renewable Energy Push at Rising Rajasthan Summit
Jaipur, Rajasthan, December 9, 2024 – Tata Power made a high decibel announcement regarding the investment of INR 1.2 lakh crore at the Rising Rajasthan Global Investment Summit, with Dr. Praveer Sinha, CEO & MD, reiterated the company’s vision to make Rajasthan a leader in renewable energy.
Tata Power’s INR 1.2 lakh crore investment roadmap aimed at making Rajasthan a power surplus state through a range of initiatives, including renewable energy projects with INR 75000 crore investment ( comprising solar, wind and hybrid projects across key regions like Bikaner, Jaisalmer, and Jodhpur); rooftop solar, Transmission and Distribution and EV charging infrastructure. The investment is expected to generate 28,000 jobs and deliver 24/7 clean, affordable power to the people of Rajasthan.
Home to the largest solar parks in the country, Rajasthan is among the top states in terms of installed renewable capacity. The solar capacity in the state surpasses 18GW making it a leading state in India. The state is well poised to play a critical role in achieving India’s goal of 500GW of renewable energy capacity by 2047. Currently Tata Power has renewable installations of over 1000MW in solar and 185MW in wind energy. Under its “Ghar Ghar solar initiative” Tata Power will target 10 lakh households for rooftop solar installations, executing approx. 50000 installations rooftop per month.
“This summit was a testament to Rajasthan’s bold vision for sustainable development. Tata Power is honoured to be a partner in this journey, driving innovation and creating lasting value for the people of Rajasthan,” said Dr. Praveer Sinha while addressing the media at Jaipur Exhibition Convention Centre (JECC). He also emphasized that Tata Power’s clean energy roadmap for the state would significantly contribute to India’s goal of becoming net-zero carbon by 2070 and the state’s ambition to emerge as the next clean energy hub in the country.