Tata Power to set up solar plant in Tamil Nadu, signs MoU worth Rs 3,000 cr
Jul 04, 2022
New Delhi [India], July 4 : Electricity generation company Tata Power has signed a Memorandum of Understanding (MoU) with the government of Tamil Nadu to invest approximately Rs 3,000 crore, for setting up a greenfield 4 gigawatts solar cell and 4 gigawatts solar module manufacturing.
The plant would be set up in Tirunelveli district of Tamil Nadu, an official statement said.
The investment in this project is planned to be made over a period of 16 months, and it hopes to contribute towards the emergence of clean energy, while at the same time, creating employment in the state.
"The investment in the plant will be made over a period of 16 months and will directly or indirectly create over 2,000 employment opportunities with majority of them being women employees," the statement said.
The MoU was signed by Thiru S. Krishnan, Additional Chief Secretary to Government of Tamil Nadu, Industries Department, and Praveer Sinha, CEO & MD, Tata Power in the presence of Chief Minister of Tamil Nadu during the Investors' First Port of Call, Investment Conclave 2022.
Tata Power also has a manufacturing unit in Bangalore, which has a production capacity of 635 megawatts of modules and 500 megawatts of cells.
"India has opportunity to spearhead the usage of clean and green energy solutions to meet its energy requirements. Tata Power Solar's new production facility is being set up with the support and assistance of Tamil Nadu Government, will help to meet the rising demand for clean energy solutions in the country apart from providing huge employment opportunities," said Praveer Sinha, CEO and MD, Tata Power, while signing the MoU.
Tata Power is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed or managed capacity of 13,735 mega watts.
