Tata Power is setting up a greenfield 4GW solar cell and 4GW solar module manufacturing plant in the Tirunelveli district of Tamil Nadu. India's largest private integrated power company, on Monday, signed a memorandum of understanding (MoU) with the Tamil Nadu government to invest approximately Rs 3,000 crore in the plant.
The investment will be made over 16 months and will create over 2,000 employment opportunities, and a majority of the jobs would be for women, the company said.
The MoU was signed by S Krishnan IAS, additional chief secretary to the government of Tamil Nadu, industries department, and Dr Praveer Sinha, CEO and MD, Tata Power in the presence of Tamil Nadu chief minister MK Stalin and other senior officials of the state during the Tamil Nadu Investors’ First Port of Call, Investment Conclave 2022.
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The company is one of the first to put a solar manufacturing facility in the country in 1991.
Speaking at the MoU signing ceremony, Sinha said: "India has the opportunity to spearhead the usage of clean and green energy solutions to meet its energy requirements. The plant is being set up to meet the rising demand for clean energy solutions in the country apart from providing huge employment opportunities."
For the smooth navigation of equipment, the facility will implement Autonomous Mobile Robots (AMR) that use lasers and cameras for transporting parts. Another technological advancement will be the implementation of Industry 4.0 standards, a fully interconnected factory comprising smart manufacturing tools and technologies.
Tata Power Solar's Tamil Nadu facility will be the second manufacturing unit of the company after Bengaluru. As one of the largest solar manufacturers in India, the company operates a world-class manufacturing unit in Bengaluru, with a production capacity of 635MW of modules and 500 MW of cells.
Shares of Tata Power ended at Rs 211.50, up by Rs 4.50, or 2.17 percent on the BSE.
First Published: Jul 4, 2022 5:05 PM IST
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