Tata Power Renewable Energy Ltd (TPREL), a subsidiary of the Tata Power Company Ltd, on Wednesday (September 27) said the company

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will be constructing a 41-MW captive solar plant in Thoothukudi, Tamil Nadu.

This venture is in support of TP Solar Ltd (TP Solar), which is embarking on the development of a massive 4.3 GW solar cell and module manufacturing facility in Tirunelveli, Tamil Nadu, according to a stock exchange filing.

The captive solar plant promises to generate 101 million units of electricity annually. It is also poised to make a substantial environmental impact by offsetting approximately 72,000 metric tonnes of CO2 emissions each year.

The project is expected to be commissioned within 12 months from the signing of the project development agreement.

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To oversee the development, operation, and maintenance of this facility for TP Solar, TPREL has established TP Govardhan Creatives Ltd, a specialised entity.

TP Solar, a subsidiary of TPREL, is scheduled to commence commercial production of solar cells and modules by the fiscal year 2024-25. This initiative marks a significant milestone in Tata Power Renewable Energy's journey towards bolstering India's green energy infrastructure.

With the addition of the new captive solar plant, TPREL's overall capacity will expand to an impressive 7,877 MW. This includes 3,720 MW of projects in various stages of implementation and an operational capacity of 4,157 MW, comprising 3,154 MW of solar energy and 1,003 MW of wind energy.

Shares of Tata Power Company Ltd ended at Rs 259.90, up by Rs 0.050, or 0.019 percent on the BSE.

(Edited by : Shoma Bhattacharjee)

First Published:Sept 27, 2023 7:51 PM IST