The investment commitment is reported to help the state to showcase itself as an attractive solar power manufacturing location
Tata Power Solar, the Group’s solar power arm, is looking to set up a 4GW integrated solar photovoltaic cell manufacturing unit in Gangaikondan near Tirunelveli in Tamil Nadu and is reportedly in the final stages of negotiations with the Tamil Nadu government for the same.
“The investment by Tata would be around Rs 3,000 crore with an employment potential of 2,000 locals, predominantly women,” highly placed officials in the Tamil Nadu government told TOI.
The investment commitment is reported to help the state to showcase itself as an attractive solar power manufacturing location. It is also expected to boost investments to southern states which have not attracted too many till now.
Notably, Tamil Nadu already houses the Vikram solar plant, which inaugurated its 1.2 GW factory earlier this year in Oragadam. United States-based First Solar has also performed the groundbreaking ceremony at its greenfield plant near Chennai.
First Solar is investing $684 million in a fully vertically integrated photovoltaic thin-film solar module manufacturing facility with a capacity of 3.3GW and is expected to commence operations in the second half of 2023.
Tata Power, on the other hand, had in January 2021 bagged an order worth Rs 1,200 crore from state-run power giant NTPC for setting up of 320 MW ground mounted solar project.
The order value of the project is approximately Rs 1,200 crore ($162 million). The commercial operation date for this project is set for May 2022.