Tata Power renewable arm raises $425 million from DFC

TP Solar, a subsidiary of Tata Power Renewable Energy (TPREL), has raised $425 million from US International Development Finance Corporation (DFC)’s board of directors for its upcoming greenfield solar cell and module manufacturing plant in Tamil Nadu. The first module production at the 4.3 GW plant, located in Tirunelveli district, is expected by the year end and the first cell production is expected between April and June 2024.