Tata power to invest Rs 3000 cr to set up solar cell
Published On: Monday, July 4, 2022 | By: Team KnowMyStock
Indian power giant Tata Power on July 4 Monday announced that it has inked a pact with the Tamil Nadu government to invest Rs 3,000 crore for setting up a new facility to manufacture solar cells and modules in the Tirunelveli district of the state. Tata Power has signed a Memorandum of Understanding with the Tamil Nadu government to invest about ₹3,000 crores to set up a solar cell, module manufacturing unit in Tirunelveli, Tamil Nadu. Both parties pledged to encourage the state's shift to clean energy and employment. Investment in the facility will be made over a 16-month period that will result in the creation of more than 2,000 job opportunities, with the majority of workers in the workforce being female. The MoU was signed by S Krishnan, additional chief secretary to the government of Tamil Nadu, Industries Department, and Praveer Sinha, CEO & MD, Tata Power, in the presence of state chief minister M K Stalin and senior officials of the state
Tata Power said it is committed to establishing state-of-the-art manufacturing facilities in the country and is a forerunner in terms of investing in green technologies. The company is one of the first to put a solar manufacturing facility in the country in 1991 and since then has regularly upgraded the facility by setting up the Mono-PERC cell line in FY21 at its existing facility in Bengaluru, Karnataka.“India has opportunity to spearhead the usage of clean and green energy solutions to meet its energy requirements. Tata Power Solar’s new production facility, being set up with the support and assistance of Tamil Nadu government, will help to meet the rising demand for clean energy solutions in the country apart from providing huge employment opportunities," said Praveer Sinha, CEO & MD, Tata Power, said
Tags: #tatapowe #solarcell #tamilnadu
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