Tata Power Renewable Energy Limited (the Company) has signed two Memoranda of Understanding (MoUs) with the Government of Tamil Nadu to support in the development of the state’s renewable energy landscape and accelerate India’s clean energy transition.
The signing ceremony took place on 8th January 2024, at Chennai Trade Centre, Chennai in the presence of key representatives from both the Government of Tamil Nadu and the Company. This collaboration is poised to contribute significantly to the renewable energy sector’s growth and further solidify the state’s position as a hub for clean and sustainable energy.
Under the first MoU, the Company plans to explore opportunities to develop 10,000 MW of Renewable Energy Power Projects across solar, wind, hybrid, RTC, peak, Firm and Dispatchable Renewable Energy (FDRE), etc. over the next five to seven years. Under this MoU, these renewable projects will be strategically located across nearly 50,000 acres of land in Tamil Nadu with investment potential of nearly Rs 70,000 crs, potentially generating around 3,000 green job opportunities and transforming adjoining areas into employment hubs.
The second MoU signing highlights the Company’s commitment to further increase its investment in the existing MoU, signed on 4th July 2022, to set up 4 GW of Solar Cell and Solar modules, with an investment of Rs 3000 crore, in two phases in Gangaikondan in Tirunelveli District of Tamil Nadu. The expansion will include the upgradation of the infrastructure and setting up of additional 300 MW each of cell and module line using the latest TOPCon technology, bringing the total plant capacity to 4.3GW. As per the new MoU, this project will entail an additional investment of Rs. 800 crores over the next two years.
The investment plan by Tata Power reflects the shared commitment with Government of Tamil Nadu to drive economic growth, employment, and environmental sustainability through the renewable and clean energy projects in the State.
