Tata Power to Invest 3000 Crores

Tata Power has signed an agreement with the Tamil Nadu government, stating its intention to invest 3000 crores into setting up a manufacturing facility in the state. The facility would produce greenfield 4 GW solar cells and 4 GW solar modules in the Tirunelveli district.

The memorandum of understanding was signed by Praveer Sinha, CEO & MD, Tata Power, and S Krishnan, additional chief secretary to the government of Tamil Nadu, on Monday, 4th of July.

The massive investment would be made over a period of 16 months and will create more than 2000 employment opportunities, especially for women.

“Tata Power Solar’s new production facility being set up with the support and assistance of the Tamil Nadu government will help to meet the rising demand for clean energy solutions in the country, apart from providing huge employment opportunities,” says Praveer Sinha, CEO & MD, Tata Power.

This plant would be Tata Power’s second manufacturing facility after Bengaluru.

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Resource: Financial Express