US DFC to invest $435 million in Tata Power’s green energy subsidiary
The US International Development Finance Corporation (DFC) Board of Directors have approved $425 million to finance TP Solar Limited, a subsidiary of Tata Power Renewable Limited (TPREL), Tata Power said in a press release. The approval is for an upcoming 4.3 GW solar cell greenfield project and module manufacturing plant at Tirunelveli district in Tamil Nadu, India.
The plant’s first module production is expected to begin by the year end and the first cell production is expected in the first quarter of financial year 2023-24 (FY24).
