Tata Power shares rise 2% on plan to invest ₹1.2 lakh cr in Rajasthan

/ 2 min read

Over 28,000 direct employment opportunities are expected in Rajasthan over the next 10 years, says Tata Power

Following the announcement, Tata Power shares surged as much as 1.7% to reach an intraday high of ₹491.25 apiece on the BSE.
Following the announcement, Tata Power shares surged as much as 1.7% to reach an intraday high of ₹491.25 apiece on the BSE. | Credits: Fortune India

Tata Power has entered into a Memorandum of Understanding (MoU) with the Rajasthan government, committing to an investment of ₹1.2 lakh crore during the ‘Rising Rajasthan Investor Meet’ in New Delhi, led by Chief Minister Bhajan Lal Sharma. The MoU focuses on developing renewable energy projects, establishing a solar module manufacturing plant, and creating EV charging infrastructure. This 10-year initiative aims to make Rajasthan a power-surplus state and supports India's goals of 500 GW of renewable capacity by 2030 and net-zero emissions by 2070. It also promises over 28,000 direct jobs and 1 lakh EV charging points across the state.

ADVERTISEMENT

Following this announcement, Tata Power shares surged as much as 1.7% to reach an intraday high of ₹491.25 apiece on the BSE. At the time of reporting, Tata Power shares were trading 0.41% higher at ₹484.70, with a market capitalisation of ₹1,54,973.97 crore.

The stock opened higher today at ₹487.75, in sync with the strong broader market, against the previous close price of ₹482.70. Over the past month, the stock has jumped 11.95%, gained 19.17% in the last six months, and surged 46.82% year-to-date (YTD). On Friday, Tata Power shares gained as much as 2.5% to hit a 52-week high of ₹494.85 on the BSE.

The MOU encompasses the investments for the development of renewable energy projects, the establishment of a solar module manufacturing plant, solar rooftop installations, transmission and distribution initiatives, nuclear power plant, and EV charging.

The 10-year initiative is expected to support Rajasthan’s goal to become a power-surplus state, ensuring round-the-clock availability of clean, affordable, and reliable electricity.

Recommended Stories

The agreement aims to position Rajasthan as a key centre for renewable energy in India, contributing to the nation’s goal of installing 500 GW of renewable capacity by 2030 and reaching net-zero emissions by 2070.

Key highlights of the MoU:

ADVERTISEMENT

- Out of ₹1.2 lakh crore, ₹75,000 crore is dedicated to renewable energy projects.

- Over 28,000 direct employment opportunities are expected in Rajasthan over the next 10 years.

Most Powerful Women In Business 2025
View Full List >

- A 10,000 MW of renewable energy capacity (including 6,000 MW solar and 4,000 MW hybrid) to be developed across Bikaner, Jaisalmer, Barmer, and Jodhpur.

- A 2,000 MW solar module manufacturing facility with an investment of ₹2,000 crore in Jodhpur.

- Investments of nearly ₹ 20,000 crore will be allocated to upgrading Rajasthan’s grid infrastructure to reduce energy losses and improve overall power quality, while ₹10,000 crore for transmission systems, with an exploration of nuclear power development.

- A proposed investment of ₹1,000 crore to establish 1 lakh EV charging points across the state of Rajasthan, positioning the state as a key player in India's transition to e-mobility.

ADVERTISEMENT

- Rooftop solar installations for 10 lakh households are planned to support the PM Surya Ghar Yojana.

With a portfolio that includes 1 GW of solar projects, 185 MW of wind projects, and 130 MW of rooftop solar installations, Tata Power already has a significant presence in the state.

ADVERTISEMENT

Fortune India is now on WhatsApp! Get the latest updates from the world of business and economy delivered straight to your phone. Subscribe now.

ADVERTISEMENT