Tata Power to set up Rs 3,000 crore solar plant in Tamil Nadu

Indian power giant Tata Power announced that it has signed an MoU with the Tamil Nadu government to set up a solar manufacturing plant in the state.

The plant will be used to manufacture 4GW solar cells and 4GW solar modules in the Tirunelveli District. The investment, which will be made over a period of 16 months, will employ 2,000 people, the majority of which will be women.

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The MoU outlines the commitment of the state and the company to stimulate clean energy transition and employment generation in the state. It was signed by S. Krishnan, additional chief secretary to the government of Tamil Nadu, Industries Department, and Praveer Sinha, CEO & MD of Tata Power, in the presence of State CM M. K. Stalin and other senior officials. 

"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. It will help to meet the rising demand for clean energy solutions in the country apart from providing huge employment opportunities." said Praveer Sinha, MD & CEO of Tata Power.

The stock of Tata Power seems to be recovering after it declined 34% since early April. The stock witnessed a full gap up opening today as it opened at Rs 214.50 today. It currently trades around Rs 215.15, up 1.7%.

Article by Aman Agarwal.

This news piece is brought to you in association with jobaaj.com


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