Tata Power to infuse upto Rs3,400 crore for a Mega Solar Manufacturing Plant in Tamil Nadu; stock trades higher

6 Jul 2022 , 09:32 AM

Tata Power Company Limited has informed that it has signed a Memorandum of Understanding with State Government for setting up Mega Solar Manufacturing Plant in Tamil Nadu.

The plant has an existing capacity of 635 MW Modules & 500 MW Cells. With the setting up of this plant, the company intends to add 4 GW Modules & 4 GW Cells by FY24.

The investment required for setting up the plant is between Rs3,000 crore to Rs3,400 crore.

The mode of financing will be a mix of external debt and equity.

The plant will cater to the in-house requirement of modules for Self- EPC, 3rd Party EPC, Rooftops & Pumps.

At around 9.30 AM, Tata Power was trading at Rs213.45, up by 0.31% against its previous close of Rs212.80 on NSE. It opened at Rs212.50 and touched an intraday high of Rs214.10 so far.