The US International Development Finance Corporation has approved a financial aid of up to USD 425 million (Rs 3,521 crore) to Tata Power Renewable Energy Ltd for setting up a 4.3 GW solar cell in Tamil Nadu by its subsidiary.
The plant’s first module production is expected by year-end and the first cell production is expected in the first quarter of the financial year 2024-25 (FY25), Tata Power Renewable Energy Ltd (TPREL) said in a statement on Monday.
“The US International Development Finance Corporation board of directors approved USD 425 million of financing in TP Solar Ltd, a subsidiary of TPREL, for its upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli,” the statement said.
