Tata Power Company has initiated the production of solar cells at its 4.3 gigawatt plant in Tirunelveli, Tamil Nadu, marking the start of operations at the largest single-location solar cell and module manufacturing facility in the country.
What Happened: The announcement was made on Monday by TP Solar Limited, a subsidiary of Tata Power Renewable Energy Limited (TPREL), which is itself a subsidiary of Tata Power. The plant, currently operating at a 2 gigawatt capacity, is expected to ramp up production over the next 4-6 weeks, reaching peak production in the coming months.
See Also: HAL Appoints DK Sunil As Chairman And Managing Director
"The commencement of cell production at our Tirunelveli plant is a significant step towards indigenisation in the solar value chain and achieving self-sufficiency. We believe that this plant will lead the way in supporting the country’s vision for a Net-Zero carbon future,” said Praveer Sinha, CEO, Tata Power.
The facility, equipped with advanced TOPCon and Mono Perc technology, is part of Tata Power’s strategy to lead India’s renewable energy transition. The company has invested nearly ₹4,300 crore in the establishment of this facility. The solar cells and modules produced at the Tamil Nadu facility will initially cater to the company’s ongoing projects, with plans for wider market distribution in the future.
Last month, Tata Power announced its strategic alliance with ICICI Bank, aimed at promoting wider adoption of solar energy. Tata Power Solar Systems, a wholly-owned subsidiary of TPREL, partnered with ICICI Bank to provide easy financing options for customers intending to purchase solar panels.
Read Next: Tata Motors Introduces Discounts Worth Up To ₹2.5 Lakh On ICE Vehicles
Engineered by Benzinga Neuro, Edited by Utkarsh Roshan
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.