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.

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,

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.

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?

Amongst the areas for investment are renewable energy, nuclear, and transmission. Tata Power has inked a memorandum of understanding with the Government of Rajasthan for a 10-year investment plan worth $1.

The agreement was signed during the ongoing Rising Rajasthan Investor Meet in New Delhi and the proposed investment plan under it will be Rs 1.2 lakh crore.

Tata Power on Monday said it has inked an initial pact with the Rajasthan government for investment of Rs 1.2 lakh crore, including Rs 75,000 crore in green energy, in the state's power sector. The 10-year plan aims to support Rajasthan's transformation into a power surplus state,

The plan includes 10 GW of renewable capacity, a 2 GW solar module plant, and 100,000 EV charging points, creating over 28,000 jobs and supporting Rajasthan's goal of becoming a power surplus state.