Tata Group to invest INR 3,000 crore in Tamil Nadu to set up PV manufacturing facility
Tata Group plans to set up a 4 GW solar manufacturing unit in Gangaikondan near Tirunelveli – creating potential jobs for 2,000 locals, primarily women.
Tata Group’s solar power arm is in the process of negotiating with the Tamil Nadu government to set up a 4GW integrated solar photovoltaic manufacturing facility in Gangaikondan near Tirunelveli district of Tamil Nadu.
High-ranking government officials in Tamil Nadu stated that Tata will be investing around INR 3,000 crore, creating potential jobs for 2,000 locals, primarily women.
Tata Group’s investment commitment is also being viewed as a significant step that will help to make the state more attractive as a solar power manufacturing location. Thus, it could also encourage investments in Southern states, which haven’t attracted many so far.
The state of Tamil Nadu has seen some notable investments in the solar manufacturing space, recently. Earlier this year, Vikram Solar opened its plant in Oragadam to produce 1.2GW of solar panels. Also, the US-based firm First Solar is setting up its new greenfield plant in Pillaipakkam near Chennai. With a $684 million investment, First Solar will create a fully vertically integrated photovoltaic thin-film solar module that will go into production in the second half of 2023.
Thus with the growing demand for renewable energy, specifically solar, the investment flow in manufacturing of solar panels should not be a surprise.
In Jamnagar, Mukesh Ambani’s Reliance Industries is building four ‘Giga’ factories to manufacture solar photovoltaic cells, green hydrogen, batteries, and fuel cells for INR 60,000 crore.
These upcoming manufacturing units will power solar generation capacity in line with the Prime Minister’s commitment to meet 50% of the nation’s energy needs with renewable energy by 2030.
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