Updated January 9th, 2024 at 17:50 IST
Tata Power pledges Rs 70,000 crore investment in Tamil Nadu's renewable energy
Under the first MoU, TPREL aims to develop 10,000 MW of renewable energy power projects, spanning solar, wind, hybrid, and more.
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Tata Power Tamil Nadu investment: Tata Power's subsidiary, TPREL, has signed Memoranda of Understanding (MoUs) with the Government of Tamil Nadu, committing to invest Rs 70,000 crore in the state's renewable energy landscape, reinforcing India's clean energy transition.
Ambitious renewable energy projects
Under the first MoU, TPREL aims to develop 10,000 MW of renewable energy power projects, spanning solar, wind, hybrid, and more, potentially generating 3,000 green job opportunities over the next five to seven years.
Solar expansion and upgradation
The second MoU focuses on expanding the existing solar project in Gangaikondan, Tirunelveli District, with an additional investment of Rs 800 crore. This includes upgradation of infrastructure and a capacity increase to 4.3GW using the latest TOPCon technology.
Tata Power's commitment to economic growth
Tata Power Group stresses its shared commitment with the Tamil Nadu to drive economic growth, employment, and environmental sustainability through substantial investments in renewable and clean energy projects.
Tamil Nadu's investment triumph
Tamil Nadu secured a staggering Rs 6.64 lakh crore in investment commitments across various sectors during the Global Investors Meet (GIM) 2024, underscoring its position as an attractive destination for businesses. Chief Minister MK Stalin announced the investment achievement, highlighting the potential generation of 26.9 lakh jobs, as the state promises cooperation and streamlined clearances for investors.
Published January 9th, 2024 at 16:41 IST