Indian renewables player Tata Power Renewable Energy Limited (TPREL) plans to invest INR 708 billion over the next 5 to 7 years to build multiple GW levels of renewable energy capacity and expand PV manufacturing in Tamil Nadu.
Under a memorandum of understanding (MoU) with the state government, TPREL will explore opportunities to develop 10 GW capacity across solar, wind, hybrid, round-the-clock (RTC), peak, firm, dispatchable renewable energy (FDRE).
Spread across close to 50,000 acres, this is expected to cost an investment worth INR 700 billion, and generate approximately 3,000 green jobs, according to the company. Tamil Nadu's total operational solar PV capacity as on December 31, 2023 was 7.36 GW, according to the Ministry of New and Renewable Energy (MNRE).
Currently, TPREL has a total renewable energy portfolio of 8.33 GW, including 4.12 GW under various stages of development and an operational capacity of 4.22 GW. The latter includes 3.2 GW of solar and 1.02 GW of wind energy.
It also plans to invest INR 8 billion ($96.36 million) on expanding its previously announced solar PV manufacturing capacity in Tamil Nadu by 300 MW of TOPCon cell and module capacity each, under another MoU signed.
In July 2022, through its wholly-owned subsidiary Tata Power Solar Systems Limited (TPSSL), the company announced an investment of INR 30 billion to build 4 GW solar cell and 4 GW solar module manufacturing plant in Tirunelveli district's Gangaikondan, integrating mono PERC bifacial with n-type TOPCon technologies. It will also add 300 MW TOPCon capacity for both cells and modules each.
The company has already secured a $425 million loan for this manufacturing project from the US International Development Finance Corporation (see US Funding For Solar PV Manufacturing In India).
This will be the company's 2nd manufacturing fab as it already produces 682 MW modules and 530 MW solar cells annually at its factory in Bengaluru, Karnataka.
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