Tata Power to Invest $14.32 Billion in Rajasthan's Renewable Energy Projects
India's Tata Power announced a significant investment of approximately 1.2 trillion rupees ($14.32 billion) in the northern state of Rajasthan over the next decade. The majority of this investment will be directed towards renewable energy projects, aligning with the government's clean energy goals.
The agreement between Tata Power and the state government encompasses the development of renewable energy projects, the establishment of a solar module manufacturing plant, the installation of solar rooftops, transmission and distribution projects, a nuclear power plant, and electric vehicle charging infrastructure.
A substantial portion of the investment, approximately 750 billion rupees, will be dedicated to renewable energy projects. This will involve the development of 10 gigawatts of renewable energy capacity across Rajasthan.
Tata Power, currently boasting a 5 GW renewable energy capacity in large projects, aims to add another 5 GW within the next one to two years. The company's CEO, Praveer Sinha, has outlined plans to expand their renewable energy capacity to over 20 GW by 2030, with an investment of up to $9 billion.
This significant investment by Tata Power reflects the growing trend among Indian companies to expand their renewable energy capacity. The government's ambitious target of adding at least 500 GW of clean energy by 2030 to reduce emissions is a key driver of this trend.