US Grants 425M to Tata Power for India Solar Factory

• Tata Power Renewable Energy Limited has been granted USD 425 million by the US International Development Finance Corporation for building a 4.3-GW solar cell and module manufacturing plant in Tamil Nadu. This project will create 2,000 jobs and module production is expected to start in 2020. India's renewable energy goals will be boosted by this facility. Tata Power currently has a 7.8 GW renewable energy portfolio.

The US International Development Finance Corporation has provided Tata Power Renewable Energy Limited with USD 425 million to build a 4.3-GW solar cell and module manufacturing plant in Tamil Nadu. The plant will create more than 2,000 jobs and is expected to begin module production by the end of 2020 and solar cell production in the first quarter of 2024. The funding is part of India's efforts to expand its renewable energy manufacturing capacity and facilitate the growth of domestic solar installations. Tata Power already has a 7.8 GW renewable energy portfolio, with a 500 MW solar cell and module factory already in Bengaluru.

What Benefits Will the USD 425M Tata Power Plant Bring?

• The US International Development Finance Corporation will help create more than 2,000 jobs in Tamil Nadu.
• The funding will contribute to India's efforts to expand renewable energy manufacturing capacity as part of its commitment to environmental sustainability.
• The solar cell and module factory is expected to produce 4.3 GW of solar energy, significantly increasing India's energy output.
• The solar cell and module factory will be the largest in India, with a 500 MW solar cell and module factory already in Bengaluru.
• The new plant will help to reduce India’s dependence on fossil fuels and promote the growth of domestic solar installations.
• The USD 425 million investment in the Tata Power Renewable Energy Limited plant will help to create a safe and reliable source of energy for Indians.