Tata Power has signed an initial agreement with the Rajasthan government for an investment of Rs 1.2 lakh crore in the state’s power sector. This includes a green energy investment of Rs 75,000 crore. This ten-year plan aims to help transform Rajasthan into a power surplus state and provide clean, affordable and reliable 24/7 power supply. This investment by Tata Group will also help Prime Minister Surya Ghar Yojana. The special thing is that this investment can create 28 thousand more jobs.
Signed memorandum of understanding
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 Investors Conference held in New Delhi on Monday. An amount of Rs 20,000 crore will be invested in the state transmission and distribution sector to modernize grid infrastructure, reduce power 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 and opportunities to develop nuclear power plants will be explored. Around Rs 75,000 crore will go towards renewable energy projects. An investment of Rs 1,000 crore has been earmarked to set up one lakh electric vehicle charging points in Rajasthan. Prime Minister Surya Ghar Yojana will be supported by rooftop solar power plants for 10 lakh houses. This MoU will have a transformative socio-economic impact and will create over 28,000 direct jobs in the state.
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Share Tata Power
If we talk about Tata Power shares, a slight decline has been observed. According to BSE data, shares of Tata Power closed at Rs 482.70 down 0.49 per cent. However, during the trading session, the company’s stock also touched the day’s lowest 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 stock had hit a 52-week high of Rs 494.85.
