India's Tata Power said on Monday that it will invest about 1.2 trillion rupees ($14.32 billion) in northern state Rajasthan over the next 10 years, with majority of the money in the renewable energy projects.

The project aims to construct 10,000 MW of renewable energy capacity (6,000 MW solar and 4,000 MW hybrid) in Bikaner, Jaisalmer, and others.

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.

Investments will be made in renewable energy projects and manufacturing, transmission, distribution, nuclear power, rooftop installations, and EV charging, a company statement said.

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.

Tata Power signed a Memorandum of Understanding with the Rajasthan government to invest Rs 1.2 lakh crore in the state's power sector over the next decade. The investment aims to transform Rajasthan into a power surplus state by focusing on green energy projects,

The 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,

India's Tata Power has shut a 500-megawatt (MW) thermal power unit at its Trombay plant in Mumbai due to a fire incident, the company said on Tuesday.

Tata Power has signed a Memorandum of Understanding (MoU) with the Rajasthan government to invest Rs 1.2 lakh crore in the state's power sector. This 10-year plan includes significant allocations for green energy,

Tata Power has signed a Memorandum of Understanding (MoU) with the Rajasthan Government for a 1-year plan totaling to Rs around Rs 1.2 lakh crore in power distribution, transmission, and renewables. Should you BUY?

India's Tata Power said on Monday that it will invest about 1.2 trillion rupees ($14.32 billion) in northern state Rajasthan over the next 10 years, with majority of the money in the renewable energy projects.