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 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.

Tata Power Company has signed a Memorandum of Understanding (MoU) with the Rajasthan government, committing to an investment of approximately ₹1.2 lakh crores in power distribution, transmission, and renewable energy projects.