Tata Power has announced plans to invest approximately 1.2 trillion rupees ($14.32 billion) in the northern Indian state of Rajasthan over the next decade, primarily focusing on renewable energy projects.
The company formalized this commitment through an agreement with the state government that encompasses a range of initiatives, including the development of renewable energy projects, establishment of a solar module manufacturing plant, solar rooftop installations, and enhancements to transmission and distribution infrastructure.
Of the total investment, around 750 billion rupees will be allocated to renewable energy projects, with a target to develop 10 gigawatts (GW) of renewable energy capacity across the state.
Tata Power currently operates 5 GW of renewable energy capacity in large projects and aims to add another 5 GW within the next one to two years, ultimately expanding its capacity to over 20 GW by 2030. CEO Praveer Sinha noted that the company plans to invest up to $9 billion to achieve these goals.
This significant investment reflects a broader trend among Indian companies to increase their renewable energy capacity, aligned with the government's ambitious target of adding at least 500 GW of clean energy by 2030 to combat emissions.
