Tata Power, TN Sign MoU For 4 GW Solar Cell Manufacturing With Rs 3,000 cr Investment

By Saur News Bureau/ Updated On Mon, Jul 4th, 2022

Highlights :

Earlier, Tata Power had stressed that rather than depending on PLI schemes, the firm would make a business decision on manufacturing.
The MoU with Tamil Nadu, if taken to its logical conclusion, will go along way in placing the state firmly on the solar map as not just a generator, but also a manufacturer.

Tata Power, TN Sign MoU For 4 GW Solar Cell Manufacturing With Rs 3,000 cr Investment

Tata Power announced on July 4 that it has signed an MoU with the Tamil Nadu Government where the former will set up a greenfield 4GW solar cell and 4GW solar module manufacturing unit against the investment of Rs 3000 crore in Tirunelveli in the state. The MoU was signed by S Krishnan, additional chief secretary to Tamil Nadu Government, and Dr. Praveer Sinha, CEO & MD, Tata Power, in the presence of State Chief Minister M K Stalin and senior officials of the state. This will be the second manufacturing unit of the company after Bengaluru, dwarfing the much smaller Bengaluru manufacturing facility.

A statement by the company reads, “Tata Power, one of India’s largest integrated power companies, has signed a Memorandum of Understanding 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,”.

The MoU also outlines the commitment of both the stakeholders going to achieve the twin objectives: Clean energy transition and direct or indirect employment generation of about 2000 in the state, majority of whom would be women.

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A forerunner in terms of investing in green technologies, Tata Power expressed its commitment to establishment of state-of-the-art manufacturing facilities. Having built a solar manufacturing facility in India in 1991, the power major has since continued to upgrade the facility by setting up the MonoPERC cell line in FY21 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 Tamil Nadu government, will help to meet the rising demand for clean energy solutions in the country, apart from providing huge employment opportunities.”

Setting its eyes at big targets, Tata Power Solar commissioned a 450 MW DC capacity solar pant for Brookfield Renewable India last month. The installation entails set up of over 800,000 modules, is expected to produce over 800 GWh of clean energy annually.