Tata Power has pledged an investment of a massive Rs. 1 Lakh Crore to develop clean energy projects in Rajasthan
Tata Power announced a major investment plan at the Rising Rajasthan Global Investment Summit 2024. The company will Rs. 1.2 lakh crore in the state for various renewable energy projects. This investment focuses on rooftop solar installations, electric vehicle charging infrastructure, and renewable energy projects.
It will make Rajasthan a power surplus state in the clean energy sector and push for better and sustainable living and reduce the overall carbon footprint of energy usage aligning itself with India’s ambitious carbon neutrality goal.
Highlights
- The power giant will allocate Rs. 75,000 Crore for solar, wind and hybrid installation projects in key regions such as Jodhpur, Bikaner, and Jaisalmer.
- The company also aims to expand transmission and distribution networks for EV charging infra and rooftop solar system.
- Company’s big investment plans will also create an estimated job opportunities of around 28,000 jobs in Rajasthan solely focused on clean energy.
Tata’s ambitious investment plan for Rajasthan’s clean energy sector
The power giant will allocate Rs. 75,000 Crore for solar, wind and hybrid installation projects in key regions such as Jodhpur, Bikaner, and Jaisalmer. The company also aims to expand transmission and distribution networks for EV charging infra and rooftop solar system, further expanding Tata Power’s goal in the sustainability sector. Company’s big investment plans will also create an estimated job opportunities of around 28,000 jobs in Rajasthan solely focused on clean energy.
This new project will deliver clean, affordable power with 24/7 runtime in the state. It also contribute a big chunk to India’s net-zero carbon emission goal by 2070 and reaching 500 GW installed renewable energy targets by 2047. Company’s new ‘Ghar Ghar Solar’ scheme also promotes the adoption of rooftop solar in Rajasthan, aiming to target around 50,000 installations/ month with over 10 lakh homes in the state.
India’s Leading Clean Energy State
Rajasthan has a current installed solar capacity of over 18 GW making it the largest solar power hub in the country beating all states. Rajasthan also has India’s largest solar parks contributing to its renewable energy capacity. This strategic goal aims to contribute to India’s 500 GW installed renewable energy capacity target by 2047. Currently, the state has over 185 MW of wind energy installations and over 1,000 MW of solar installations.
Tata Power’s Future Plans
CEO and MD of Tata Power, Praveer Sinha has stated the importance of the company’s new initiatives that will support Rajasthan’s ambitions plans to become India’s largest clean energy hub and will further boost India’s energy goals while contributing a significant chunk to meet the targets before time.
Tata Power’s massive investment plans will be a big step forward towards India’s energy transition. It will help the state to position itself at the forefront in renewable energy development, offering impressive growth, job creation, and boost sustainable living goals of the state.
Disclaimer: The information provided above is for informational purposes only and not mention for any investment advice.