Tata Power's Rs 70k Cr Mega-Deal: 10,000 MW RE Bonanza for Gujarat

On January 11, 2024, Tata Power Renewable Energy (TPREL) inked a monumental memorandum of understanding (MoU) valued at Rs 70,000 crore with the Gujarat government, marking a significant stride in the renewable energy sector. The agreement outlines plans for the establishment of a colossal 10,000 MW hybrid renewable energy (RE) project within the state.

The earmarked locations for these groundbreaking projects include Dholera in Ahmedabad, Khavda in Kutch, and Banaskantha. Over a span of five years, commencing from the fiscal year 2024-25, TPREL is set to make substantial investments in solar, wind, and other hybrid initiatives. This landmark MoU stands as the largest ever signed by a private entity in the renewable energy sector, and it unfolded on the second day of the 10th Vibrant Gujarat summit.

The expansive 10,000 MW RE power projects encompass diverse categories such as solar, wind, hybrid, round-the-clock (RTC), peak, and firm and dispatchable renewable energy (FDRE). These projects will unfold across an extensive 50,000-acre expanse of encumbrance-free government land.

This ambitious venture by TPREL is a pivotal component of the aggregate Rs 1.5-lakh crore worth of MoUs committed to the renewable sector on that Thursday. Beyond its impressive energy output, the project aspires to generate employment opportunities for approximately 3,000 individuals, contributing to both sustainable energy development and economic growth.

News by Rahul Yelligetti