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Home » News » Tata Power and Tamil Nadu government forge partnership to propel 10,000 MW renewable energy growth

Tata Power and Tamil Nadu government forge partnership to propel 10,000 MW renewable energy growth

January 10, 2024 12:45 pm

Tata Power and Tamil Nadu government forge partnership to propel 10,000 MW renewable energy growth
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₹70,000 Crore Investment, 3,000 Green Jobs, and Expansion of Solar Manufacturing in Strategic Collaboration.

Tata Power Renewable Energy Limited recently entered into two Memoranda of Understanding (MoUs) with the Government of Tamil Nadu, signaling a collaborative effort to bolster the state’s renewable energy sector and propel India’s transition towards clean energy. The signing ceremony, held at Chennai Trade Centre, Chennai, featured key representatives from both the Government of Tamil Nadu and the Company. This strategic partnership is poised to make significant contributions to the growth of the renewable energy industry and solidify Tamil Nadu’s standing as a hub for sustainable and clean energy initiatives.

The first MoU outlines the Company’s ambitious plans to explore opportunities for developing 10,000 MW of Renewable Energy Power Projects encompassing solar, wind, hybrid, RTC, peak, Firm and Dispatchable Renewable Energy (FDRE), etc. over the next five to seven years. These renewable projects are slated to be strategically positioned across approximately 50,000 acres of land in Tamil Nadu, presenting an investment potential of nearly ₹ 70,000 crores. This initiative has the potential to generate around 3,000 green job opportunities and transform the surrounding areas into employment hubs.

The second MoU underscores the Company’s unwavering commitment to augment its investment in the previously signed MoU on July 4, 2022. The existing agreement pertains to the establishment of 4 GW of Solar Cell and Solar modules in Gangaikondan, Tirunelveli District, Tamil Nadu, with an initial investment of ₹ 3,000 crores, to be executed in two phases. The expansion plan includes the enhancement of infrastructure and the establishment of an additional 300 MW each of cell and module lines utilising the latest TOPCon technology, thereby increasing the total plant capacity to 4.3GW. Pursuant to the new MoU, this expanded project will necessitate an additional investment of ₹ 800 crores over the next two years.

Tata Power’s investment plan signifies a shared commitment with the Government of Tamil Nadu to stimulate economic growth, generate employment, and promote environmental sustainability through renewable and clean energy projects within the state. This collaborative effort aligns with the broader objective of fostering a sustainable and eco-friendly energy landscape, thus contributing to India’s broader clean energy transition.

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