Tata Power, one of India's leading integrated power companies, has recently announced a significant step towards building a sustainable future. The company has signed a Memorandum of Understanding (MoU) with the Tamil Nadu Government to establish a state-of-the-art greenfield 4GW Solar Cell and 4GW Solar Module manufacturing plant in Tamilnadu, in the Tirunelveli District, with a massive investment of INR 3,000 crores.
The MoU was signed by Dr. Praveer Sinha, MD & CEO, Tata Power, and Thiru S. Krishnan IAS, Additional Chief Secretary (Government of Tamil Nadu), Industries Department, in the presence of Thiru M. K. Stalin, Honourable Chief Minister of Tamil Nadu, and other top officials of the Tamilnadu state.
The signing ceremony was held during the Tamil Nadu Investors' First Port of Call, Investment Conclave 2022, which was aimed at promoting investment opportunities in the state across various sectors. The event was attended by several leading business personalities, investors, and policymakers, making it a perfect platform for signing this important MoU.
The MoU outlines the mutual commitment of both parties toward driving sustainable growth and development in the state. The investment in the plant is slated to be made over a period of 16 months and is expected to generate over 2000 employment opportunities directly or indirectly. What's noteworthy is that the majority of these employment opportunities are likely to benefit women employees.
This will also help enhance the socio-economic status of the local population and promote gender equality and empowerment.
As a first step, TP Solar Ltd launched its satellite office at Tiliconveli - a leading IT tech park in Tirunelveli. The office was inaugurated on March 1, 2023, by Mr. Ashish Japtiwale - Group Head, Civil, Transmission Projects, Tata Power, and Mr. Stephen Selwyn - Group Head, ES&A (Renewables), Tata Power.
Tata Power's solar manufacturing plant will not only create employment opportunities but also drive sustainable growth and development in Tirunelveli, promoting economic prosperity and boosting the state's renewable energy sector.
Tirunelveli's strategic location, coupled with its favourable climatic conditions, makes it an ideal choice for Tata Power's solar manufacturing plant. The project is expected to cater to the rising demand for solar energy in the country and contribute towards reducing India's carbon footprint, thus paving the way for a cleaner and greener future.
Dr. Praveer Sinha - CEO & Managing Director, Tata Power, expressed his enthusiasm about the company's upcoming solar manufacturing plant in Tirunelveli, stating,
"India has an opportunity to spearhead the usage of clean and green energy solutions to meet its energy requirements. Tata Power Solar's new production facility is being set up with the support and assistance of the Tamil Nadu Government, which will help to meet the rising demand for clean energy solutions in the country apart from providing huge employment opportunities."
The increased adoption of renewable energy sources will also help in reducing dependence on fossil fuels, making a significant impact on the environment.
Overall, this collaboration between Tata Power and the Tamil Nadu Government is a testament to the potential of public-private partnerships in promoting sustainable development and creating a cleaner and greener future for India.
