Tata Power Renewable Energy Limited (TPREL) plans to invest Rs 708 billion for renewable energy projects in Tamil Nadu.
The company has signed two memorandum of understanding (MoUs) with the Tamil Nadu government.
Under the first MoU, TPREL will explore opportunities to develop 10,000 MW of renewable energy power projects across solar, wind, hybrid, round-the-clock, peak, firm and dispatchable renewable energy over the next five to seven years. These will be located over 50,000 acres of land in Tamil Nadu with an investment potential of nearly Rs 700 billion. The second MoU will enhance the investment commitment to up to Rs 38 billion to set up four GW of solar cells and solar modules plant in two phases at Gangaikondan in Tirunelveli, Tamil Nadu.