US DFC approves $425mn aid for Tata Power's 4.3 GW Solar Plant in TN
POWER & RENEWABLE ENERGY

US DFC approves $425mn aid for Tata Power's 4.3 GW Solar Plant in TN

The US International Development Finance Corporation (DFC) has granted financial assistance amounting to a maximum of $425 million (equivalent to Rs 3,521 crore) to Tata Power Renewable Energy Ltd for the establishment of a 4.3 GW solar cell manufacturing facility in Tamil Nadu through its subsidiary. Tata Power Renewable Energy (TPREL) announced that the initial module production of the plant is anticipated by the end of this year, while the first cell production is projected to commence in the first quarter of the financial year 2024-25 (FY25).

TPREL conveyed that the board of directors of the US International Development Finance Corporation has given the green light to provide USD 425 million in funding to TP Solar Ltd, a subsidiary of TPREL, for the development of a new 4.3 GW solar cell and module manufacturing plant in Tirunelveli.

TPREL expressed gratitude for the DFC's support in establishing their solar cell and module production facility in Tamil Nadu, underscoring the confidence and trust that the DFC has placed in Tata Power's capability to establish a cutting-edge manufacturing supply chain within the country. Praveer Sinha, CEO & MD of Tata Power, emphasised that this support will significantly contribute to the country's transition towards renewable and clean energy.

The Tirunelveli manufacturing facility is set to incorporate advanced technologies, enabling the production of high-wattage solar modules and cells with industry-leading efficiency. Furthermore, the plant will adhere to industry 4.0 standards for smart manufacturing. It is expected that this project will create over 2,000 employment opportunities, both directly and indirectly, with a significant portion of the workforce likely to comprise women from the local area.

The US International Development Finance Corporation (DFC) has granted financial assistance amounting to a maximum of $425 million (equivalent to Rs 3,521 crore) to Tata Power Renewable Energy Ltd for the establishment of a 4.3 GW solar cell manufacturing facility in Tamil Nadu through its subsidiary. Tata Power Renewable Energy (TPREL) announced that the initial module production of the plant is anticipated by the end of this year, while the first cell production is projected to commence in the first quarter of the financial year 2024-25 (FY25).TPREL conveyed that the board of directors of the US International Development Finance Corporation has given the green light to provide USD 425 million in funding to TP Solar Ltd, a subsidiary of TPREL, for the development of a new 4.3 GW solar cell and module manufacturing plant in Tirunelveli.TPREL expressed gratitude for the DFC's support in establishing their solar cell and module production facility in Tamil Nadu, underscoring the confidence and trust that the DFC has placed in Tata Power's capability to establish a cutting-edge manufacturing supply chain within the country. Praveer Sinha, CEO & MD of Tata Power, emphasised that this support will significantly contribute to the country's transition towards renewable and clean energy.The Tirunelveli manufacturing facility is set to incorporate advanced technologies, enabling the production of high-wattage solar modules and cells with industry-leading efficiency. Furthermore, the plant will adhere to industry 4.0 standards for smart manufacturing. It is expected that this project will create over 2,000 employment opportunities, both directly and indirectly, with a significant portion of the workforce likely to comprise women from the local area.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?