Tata Power Company is poised to make a substantial investment of INR 70,000 crore for the development of 10 gigawatts (Gw) solar and wind units in Tamil Nadu over the next five to seven years. If realized, this would mark the largest single investment by Tata Power in any state. The formal announcement of this ambitious project is expected today, with the signing of a memorandum of understanding (MoU) between the state government and Tata Power.
This massive investment comes in addition to Tata Power’s establishment of a new greenfield 4.3 Gw solar cell and module manufacturing facility in Tirunelveli. Praveer Sinha, the CEO and MD of Tata Power Company, revealed that the company is planning to equally divide the 10 Gw project capacity between solar and wind power, taking advantage of Tamil Nadu’s abundant solar and wind resources.
Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power Company, is also set to construct a 41 Mw captive solar plant in Thoothukudi. This plant will support TP Solar Limited’s new solar cell and module manufacturing facility in Tirunelveli, offsetting approximately 72,000 metric tonnes of CO2 emissions annually.
With a commissioning timeline of 12 months from the signing of the project development agreement (PDA), TPREL aims to enhance its total capacity to 7,877 Mw, including both operational and projects at different stages of implementation.
Tata Power Company has expressed its commitment to double its profit and revenue in the next three years, with a strategic focus on renewable energy. By FY27, the company plans a capital expenditure of INR 60,000 crore, with a portion of the investment earmarked for projects in Tamil Nadu.
In response to inquiries about charging infrastructure, Sinha stated that the company currently operates nearly 70,000 home chargers and about 5,000 public chargers across the country. Looking ahead, Tata Power aims to extend its reach to 25,000 chargers in the next five years, catering to the growing demand for electric vehicle charging infrastructure.
