Tata Power Invests Rs 3,000 crore in Tamil Nadu’s Green Energy Initiative

Tata Power Invests Rs 3,000 crore in Tamil Nadu's Green Energy Initiative

A contract for a Rs 3,000 crore mega solar project is signed by Tata Power and the Tamil Nadu government.

With its subsidiaries and jointly controlled organizations, Tata Power, one of India’s major integrated power corporations, has a total installed/managed capacity of 13,515 MW. The company is present throughout the entire value chain of power production, including in the areas of generation (including renewable, hydro, and thermal power), transmission and distribution, coal and freight, logistics, trading, and consumer-facing solar rooftop and electric vehicle charging businesses. The company is a leader in clean energy generation with 4.9 GW of clean energy generation from solar, wind, and hybrid plants accounting for approximately one-third of the total portfolio.

The solar power arm of the Tata group intends to invest Rs 3,000 crore in Tamil Nadu’s Tirunelveli district to build a four-gigawatt integrated solar photovoltaic cell manufacturing facility. The investment by the corporation in this project is anticipated to be made over 16 months, and it aims to support the development of clean energy while also generating jobs for the state.

The business and the Tamil Nadu government are reportedly close to finalizing their deal to construct a solar facility in Gangaikondan that will assist the region increase its capacity for solar energy over the next ten years. The MoU was signed at the Investors’ First Port of Call, Investment Conclave 2022 by Thiru S. Krishnan, Additional Chief Secretary to the Government of Tamil Nadu, Industries Department, and Praveer Sinha, CEO & MD, Tata Power. A fully vertically integrated photovoltaic thin-film solar module manufacturing facility with a 3.3-gigawatt capacity will be built by First Solar and opened in the second half of 2023. The project will cost $684 million. The Tamil Nadu Generation and Distribution Corporation (Tangedco) aims to produce 25 GW or more of renewable energy by 2030. It will include a 20 GW solar project, a 3 GW hydropower project, and 2 GW of gas-powered generating units. According to a high government source, the project may employ 2,000 locals, largely women, and the investment would be over Rs 3,000 crore. The Vikram solar project, which started producing at 1.2 GW near Oragadam earlier this year, is already in Tamil Nadu. The American company First Solar also staged a groundbreaking ceremony for their greenfield facility in Chennai. Additionally, Tata Power has a manufacturing facility in Bangalore with a 635-megawatt module and 500-megawatt cell production capability. In January 2021, NTPC, a state-run power company, placed an order for Rs 1,200 crore with Tata Power for the development of a 320 MW ground-mounted solar facility. The order value for the project is predicted to exceed Rs 1,200 crore ($162 million). The project is expected to start making money in May 2022. To create solar photovoltaic cells, green hydrogen, batteries, and fuel cells, Mukesh Ambani’s Reliance wants to build four “Giga” plants in Jamnagar for Rs 60,000 crore. These manufacturing facilities will be the driving force behind Reliance’s plans to build 100 GW of solar energy-producing capacity. A 3.5GW solar power facility will use photovoltaic modules made by Adani, which is also pushing up its solar operations. Tata Power is committed to building cutting-edge production plants around the country and is a pioneer when it comes to investing in green technologies. The business was one of the industry pioneers when it opened the nation’s first solar manufacturing facility in 1991. At its present manufacturing location in Bengaluru, Karnataka, a Mono-PERC cell line was installed in FY 21 as part of ongoing renovations to the plant.

India has the chance to lead the way in using clean and sustainable energy sources to meet its energy needs. The new production facility for Tata Power Solar, which is being built with the support and assistance of the Tamil Nadu government, will help to meet the nation’s growing demand for clean energy solutions while also creating a significant number of job opportunities. With its subsidiaries and jointly controlled businesses, Tata Power, one of India’s major integrated power corporations, has a total installed or managed capacity of 13,735 megawatts.

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