Tata Power has signed an initial agreement with the Rajasthan government for investment of Rs 1.2 lakh crore in the state’s power sector. This includes investment in green energy of Rs 75,000 crore. This 10-year plan aims to help transform Rajasthan into a power surplus state and provide 24/7 clean, affordable and reliable power supply. This investment of Tata Group will also help PM Surya Ghar Yojana. The special thing is that this investment can create 28 thousand more jobs.
MOU signed
The company said in a statement on Monday that the investment will be made in renewable energy projects and manufacturing, transmission, distribution, nuclear power, installation of rooftop solar plants and electric vehicle charging. The MoU was signed during the Rising Rajasthan Investor Conference held on Monday in New Delhi. An amount of Rs 20,000 crore will be invested in the state transmission and distribution sector to modernize the grid infrastructure, reduce energy losses and improve power quality across the state.
More than 28 thousand jobs will be created
Additionally, an investment of Rs 10,000 crore will be made for the transmission system along with exploring opportunities to develop nuclear power plants. About Rs 75,000 crore will be for renewable energy projects. An investment of Rs 1,000 crore has been earmarked to set up one lakh EV charging points in Rajasthan. PM Surya Ghar Yojana will be supported by rooftop solar power plants for 10 lakh houses. This MoU will have a socio-economic transformational impact and create more than 28,000 direct jobs in the state.
Tata Power share
If we talk about Tata Power shares, a slight decline has been seen. According to BSE data, Tata Power shares closed at Rs 482.70 with a decline of 0.49 percent. However, during the trading session, the company’s shares also reached the day’s lower level of Rs 473.65. However, this morning the company’s shares opened at Rs 486. A few days ago, on September 27, the company’s shares had reached a 52-week high of Rs 494.85.
