Shri  Chandra emphasized that the agreement would accelerate socio-economic growth and further PNB’s national development mission. During his visit to Jaipur, Chandra inspected key branches and ATMs, interacted with customers through the ‘Customer Outreach Programme’, and reaffirmed the bank’s commitment to digital banking and financial inclusion, emphasizing service excellence for its 18.5 crore customers. Rajasthan Chief Minister Bhajan Lal Sharma also highlighted the significance of the MoU, describing it as a decisive step towards realizing the vision of a ‘Developed Rajasthan’ by providing essential financial support for various government projects. The signing, attended by senior officials including Principal Secretary (Finance) Vaibhav Gahlot, underscores the collaborative effort to align PNB’s financial services with Rajasthan’s developmental agenda.

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~Landmark agreement aims to ensure 24/7 clean, affordable, and reliable power supply in the State. It is expected to generate 28,000 jobs in the next 10 years~ 

Bengaluru, 30^th September 2024: Tata Power, one of India’s largest integrated power company, today announced the signing of a landmark Memorandum of Understanding (MoU) with the Government of Rajasthan during the ongoing Rising Rajasthan Investor Meet in New Delhi with an investment plan of ~₹ 1.2 lakh crores. This ambitious 10-year plan aims to support Rajasthan’s transformation into a power surplus state, providing 24/7 clean, affordable, and reliable power supply with investments in renewable energy projects and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging. The MoU will place Rajasthan at the heart of the nation’s clean energy transition, contributing significantly to India’s energy goals.

The MoU was signed in the presence of the Hon’ble Chief Minister of Rajasthan, Shri Bhajan Lal Sharma; Col Rajyavardhan Rathore, Hon’ble Minister for Industry & Commerce, Rajasthan and senior officials of the Government of Rajasthan, underscoring the state’s commitment to industrial growth and energy sustainability. This agreement involves comprehensive investment across the power value chain, from generation to transmission and distribution (T&D) reforms, as well as cutting-edge renewable energy projects across the state, including solar, wind, hybrid, and battery energy storage systems (BESS) including rooftop solar and EV Charging.

Dr. Praveer Sinha, CEO & MD, Tata Power, said, “Our partnership with the Government of Rajasthan is a testament to our shared vision of building a low-carbon, resilient, and integrated energy ecosystem in the State. By using our experience across the entire power sector value chain, we aim to support Rajasthan’s energy goals and create economic opportunities for its people. We compliment the State Government’s visionary leadership in positioning Rajasthan as a future-ready, energy-efficient State that provides secure, reliable, and clean energy for all.”

This MoU envisions a future where every household and industry in Rajasthan enjoys round-the-clock, reliable, and clean electricity. The key pillars of this MoU include:

• Investment of nearly ₹1.2 lakh crore, with nearly ₹ 75,000 crore dedicated to renewable energy projects

• 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
• Advanced 2,000 MW solar module manufacturing facility with an investment of ₹ 2000 crore in Jodhpur, strengthening India’s domestic manufacturing capabilities
• Investment in State Transmission and Distribution area to modernize the grid infrastructure, reduce energy losses, and improve power quality across the State with investments of nearly ₹ 20,000 crore for distribution infrastructure and ₹ 10,000 crore for transmission systems
• Exploring opportunities to develop Nuclear power plant 
• Proposed ₹1,000 crore investment in setting up 1 lakh EV Charging points across Rajasthan to make the State a key player in the country’s transition to e-mobility
• Rooftop solar power for 10 lakh households to support the PM Surya Ghar Yojana

This MoU is poised to make Rajasthan a leading renewable energy hub in India, supporting the country’s ambitious target to install 500 GW of renewable capacity by 2030 and achieve net-zero emissions by 2070. By enabling Rajasthan to tap into its immense solar potential, Tata Power is not only supporting the State but also positioning India as a global leader in clean energy.

The MoU will have a transformative socio-economic impact, creating over 28,000 direct jobs in the State. Tata Power will strengthen the growth of local industries in areas such as solar manufacturing, infrastructure development, and renewable energy innovations. In addition, the large-scale integration of renewables will lower energy costs for industries and consumers, making Rajasthan an attractive destination for green investments and sustainable industrial development.

Tata Power has already established a significant footprint in Rajasthan, with a robust portfolio of energy projects. The company has successfully commissioned 1 GW of solar projects and 185 MW of wind projects in the state, along with 130 MW of rooftop solar installations.

Tata Power’s commitment to Rajasthan’s growth is further demonstrated by its Ajmer Distribution operations, serving over 1 lakh customers with reliable and efficient electricity supply. It also manages the 340km Bikaner-Neemrana Transmission Project to evacuate 7.7 GW of renewable power from the State.

In addition, Tata Power has several notable projects in Rajasthan, including a 225 MW hybrid project in Noorsar for Tata Power Mumbai Distribution, a 1 GW solar EPC project in Bikaner for SJVN, a 300 MW solar project in Nokhra for NTPC, a 150 MW solar EPC project in Pokhran for MSEDCL, and a 200 MW solar project in Bikaner for Tata Power Trading Company.

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