Tata Power to invest Rs 70,000 crore in Tamil Nadu; formal announcement made today

09 Jan 2024

On Sunday, Tata Power said it wants to invest about Rs 70,000 crore to set up 10 GW of solar and wind units in Tamil Nadu over a time span of five to seven years, the company's top executive said while addressing a press conference at the Tamil Nadu Global Investors Meet (GIM) in Chennai.

A formal announcement is likely to be made today, when a MoU will be signed between the state government and Tata Power. “As part of GIM, we are looking at investing Rs 70,000 crore over a period of five to seven years. We are going to set up 10 GW solar and wind projects in Tamil Nadu," Tata Power Chief Executive Officer Praveer Sinha said.

Although Praveer clarified that this amount includes the Rs 15,000 crore investments already committed to operational and under-construction projects in South and Central Tamil Nadu, So, the net new investment is around Rs 55,000 crore.