These renewable projects will be located over 50,000 acres of land in Tamil Nadu, with an investment potential of nearly Rs 70,000 crore

According to regulatory records, Tata Power Renewable Energy (TPREL) intends to invest Rs 70,800 crore in renewable energy projects in Tamil Nadu. To support the state’s renewable energy sector and hasten the country’s switch to cleaner energy sources, the Tata Power subsidiary has formalised two Memoranda of Understanding (MoUs) with the Tamil Nadu government.

Following the initial Memorandum of Understanding, TPREL intends to investigate and construct 10,000 MW of renewable energy projects in the following five to seven years, including solar, wind, hybrid, RTC (round the clock), peak, and Firm, and Dispatchable Renewable Energy (FDRE). The ambitious programme, which covers 50,000 acres of land in Tamil Nadu, is expected to draw an investment of around Rs 70,000 crore and create about 3,000 jobs related to green initiatives.

A larger investment commitment of Rs 3,800 crore is required under the second Memorandum of Understanding for the construction of a 4 GW solar cell and solar module plant in Gangaikondan, Tirunelveli district. When the first Memorandum of Understanding was signed on July 4, 2022, its initial value was set at Rs 3,000 crore. The anticipated investment increment of Rs 800 crore is designated for the following two years. The expansion plan calls for installing 300 MW more of each of the cells and module lines using the most recent TOPCon technology, increasing the plant’s overall capacity to 4.3 GW.