Tata Power’s Rs 3,000 Crore Green Energy Investment in Tamil Nadu: Full Details

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Tata Power’s Rs 3,000 Crore Green Energy Investment in Tamil Nadu: Full Details
Credit: © Reuters.

By Malvika Gurung

Investing.com -- In a bid to trigger a transition to clean energy and spearhead the usage of clean and green energy solutions for meeting the country’s energy requirements, India’s largest power generation company Tata Power (NS: TTPW ) has signed an agreement with the Tamil Nadu (NS: TNNP ) government to invest Rs 3,000 crore for setting up a new facility in the state to manufacture solar cells and modules in Tirunelveli district.

According to Tata Power’s statement on Monday, it has signed an MoU with the Tamil Nadu government to invest Rs 3,000 crore over a period of 16 months for setting up a greenfield 4GW solar cell and 4GW solar module manufacturing plant in the state’s Tirunelveli district.

The project will create over 2,000 direct and indirect employment opportunities, with the majority 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,” stated the company’s CEO & MD Praveer Sinha.

This will be Tata Power’s second such manufacturing unit after the one in Bengaluru.

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