Tata Power plans to expand its renewable energy portfolio in Tamil Nadu by adding 1,000 MW of solar and wind power projects, supplementing its existing 500 MW facilities, and is investing Rs.4,300 crore (US$ 515 million) in manufacturing projects and Rs.6,000 crore (US$ 719 million) in solar and wind projects, including a 4.3 GW solar cell and module manufacturing plant in Tirunelveli
On November 8, 2023, Tata Power announced a Rs 60,000 crore (US$ 7.22 billion) investment plan over three years, with half going to renewables. They'll avoid new coal-based capacity, focusing on renewables and brownfield expansions like pumped storage projects. They aim to commission a 1,000 MW pumped storage project by 2027. Financing will be 70% debt and 30% equity. They target doubling revenues and profits in four years. The future of their coal-fired plant in Mumbai awaits government decisions.
On April 17, 2023, Tata Power-DDL, the distribution arm of Tata Power, signed a 200-MW hydro power purchase agreement with NVVNL. NVVNL will supply hydro power for five years from May to September, starting in 2023. This collaboration will help Tata Power-DDL expand its green energy portfolio.
In November 2023, Tata Power Renewable Energy Limited (TPREL) crossed the 1.4 GW capacity of group captive projects in last seven months. This achievement is the result of signing of Power Delivery Agreements (PDA) with various industries across segments.
As announced in September 2023, Tata Power Renewable Energy Ltd (TPREL) will set up a 41 MW captive solar plant at Thoothukudi, Tamil Nadu for TP Solar’s new greenfield 4.3 GW solar cell and module manufacturing facility located at Tirunelveli, Tamil Nadu.
In August 2023, Tata Power Renewable Energy Limited (TPREL), a leading player in the renewable energy sector and a subsidiary of Tata Power, signed a Power Purchase Agreement (PPA) for 9MWp on campus solar plant with Tata Motors’ Pantnagar plant in Uttarakhand. This solar plant will be the largest on campus solar facility in the State.
Tata Power Renewable Energy Limited commissions 110 MW solar power project for Kerala State Electricity State Board.
Ecofy partners with Tata Power Solar Systems Ltd to enable hassle-free and affordable rooftop solar financing.
Tata Power announced that it will operationalise the solar cell, module facility by December 2023.
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