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.

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.

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.

On Monday, Tata Power shares ended  0.49% lower at Rs 482.70 on BSE. Market cap of the firm stood at Rs 1.54 lakh crore.

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,

The plan focuses on transforming Rajasthan into a power surplus state by ensuring clean, affordable, and reliable electricity supply.

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 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 signs MoU with Rajasthan government for ₹1.2 lakh crore investment in renewable energy and infrastructure projects.