Tata Power, an Indian company, will invest $14.3 billion in Rajasthan over a period of 10 years.

Tata Power, an Indian company, announced on Monday it would invest 1.2 trillion rupees (14.32 billion dollars) over the next ten years in Rajasthan in the north of India. The majority of this money will go towards renewable energy projects.

Tata Power and the State signed an agreement for the development of renewable energy projects. This includes solar module manufacturing, solar roofs installations, transmission projects, distribution projects, nuclear plants, and electric vehicle charging.

The company stated that a total of 750 billion rupees will be invested in renewable energy projects. A total of 10 gigawatts of renewable energy capacity is to be developed throughout the state.

Tata Power has already invested $9 billion in its large renewable energy projects. The company plans to invest up to another $5 billion in the next year or two to expand this to 20 GW of capacity by 2030.

Indian companies are increasing their renewable energy capacity. The government is aiming to increase the amount of clean energy to 500 GW by 2030 in order to reduce emissions. $1 = 83.7730 Indian Rupees (Reporting and Editing by Sethuraman N.R.

(source: Reuters)