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Tata Power Renewable Energy to invest Rs 70,000 cr in Gujarat for renewable energy projects Gujarat
Photo courtesy: Wikimedia Commons

Tata Power Renewable Energy to invest Rs 70,000 cr in Gujarat for renewable energy projects

India Blooms News Service | @indiablooms | 12 Jan 2024, 08:21 pm

Gandhinagar (Gujarat): Tata Power’s subsidiary Tata Power Renewable Energy Limited (TPREL) has signed a Memorandum of Understanding (MoU) with the Gujarat government to develop 10,000 MW of renewable energy power projects across multiple sites in Gujarat, according to an exchange filing.

The project will be completed at a total investment potential of Rs 70,000 crore, potentially generating employment for over 3,000 people, it said.

The 10,000 MW Renewable Energy Power projects will comprise solar, wind, hybrid, RTC, peak, and Firm and Dispatchable Renewable Energy (FDRE).

The MoU was signed at the Vibrant Gujarat event earlier today in the presence of key representatives from both, the Gujarat government and TPREL.

The project will cover nearly 50,000 acres of encumbrance-free government land in strategic locations across the state.

“The collaboration will support achieving the ambitious goal of generating 50% of power from renewable sources by 2030,” the company said in the filing.

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