Tata Power Company (TPCL) is set to invest Rs 70,000 crore for setting up 10 GW solar and wind units in Tamil Nadu over a period of five to seven years. The project will be equally divided between solar and wind power.
The company is likely to make 10 GW generation shortly, when a memorandum of understanding (MoU) will be signed between the state government and Tata Power. This is in addition to a new greenfield 4.3 GW solar cell and module manufacturing facility that the TPCL is coming up with at Tirunelveli with an investment of Rs 4,000.
Tata Power Renewable Energy (TPREL), a subsidiary of TPCL, will establish a 41 MW captive solar plant in Thoothukudi. This will be for TP Solar new greenfield 4.3 GW solar cell and module manufacturing facility located at Tirunelveli. The captive plant will help generate 101 million units of electricity and offset around 72,000 metric tonne of CO2 emissions annually. The captive solar project will be commissioned 12 months from the signing of the project development agreement (PDA).
TPREL has established TP Govardhan Creatives, a specialized entity entrusted with the development, operation, and upkeep of this facility for TP Solar. TP Solar’s manufacturing plant is expected to start commercial production of cells and modules by FY25. With this new captive solar plant, TPREL’s total capacity will expand to 7,877 MW. This includes 3,720 MW of projects at different stages of implementation, and an operational capacity of 4,157 MM, which involves 3,154 MW of solar energy and 1,003 MW wind energy.
The company is looking to double its profit and revenue in the next three years with a major focus on renewable energy. By FY27, it has set a capex of Rs 60,000 crore. In addition, a part of the investments will be set aside for Tamil Nadu. It is targeting to cover 25,000 chargers in the next five years.
