CHENNAI: Tata Power on Monday announced it has inked a pact with the Tamil Nadu government to invest Rs 3,000 crore for setting up a new facility to manufacture solar cells and modules in Tirunelveli district of the state.
“Tata Power, one of India’s largest integrated power companies, has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest approximately Rs 3,000 crore for setting up a greenfield 4GW solar cell and 4GW solar module manufacturing plant in Tirunelveli district of Tamil Nadu,” a release said.
The MoU outlines the commitment of both the parties to stimulate clean energy transition and employment generation 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 for women, it informed.
The MoU was signed by S Krishnan, additional chief secretary, Industries Department, and Praveer Sinha, CEO-MD, Tata Power, in the presence of Chief Minister MK Stalin and senior officials of the state.
Tata Power said it is committed to establishing state-of-the-art manufacturing facilities in the country and is a forerunner in terms of investing in green technologies.
The company is one of the first to put a solar manufacturing facility in the country in 1991 and since then has regularly upgraded the facility by setting up the Mono-PERC cell line in FY21 at its existing facility in Bengaluru.
Tata Power CEO-MD Praveer Sinha said in the statement, “India has the opportunity to spearhead the usage of clean and green energy solutions to meet its energy requirements. Tata Power Solar’s new production facility, being set up with the support and assistance of TN government, will help to meet the rising demand for clean energy solutions in the country, apart from providing huge employment opportunities.”
Tata Power Solar’s TN facility will be the second manufacturing unit of the company after Bengaluru.
As one of the largest solar manufacturers in India, the company operates a worldclass manufacturing unit in Bengaluru, with a production capacity of 635 MW of modules and 500 MW of cells, the company said.