The US International Development Finance Corporation\u2019s (DFC) Board of Directors on Monday said it has approved $425 million in financing in TP Solar, a subsidiary of Tata Power Renewable Energy (TPREL), for its upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli district in Tamil Nadu, India.<\/p>\n
According to the official press release, the plant\u2019s first module production is expected by the year end and the first cell production is expected in the first quarter of financial year 2023-24.<\/p>\n
It added that pending a US congressional notification, this investment would support India\u2019s ambitious programme to increase renewable energy manufacturing capability to support domestic solar capacity addition as part of its global green energy transition.<\/p>\n
\u201cDFC\u2019s financial support of Tata Power will help secure the supply chain in the country\u2019s journey for leadership in the clean energy space,\u201d it said.<\/p>\n
DFC is America\u2019s development finance institution. TPREL is a subsidiary of The Tata Power Company Limited, one of India\u2019s largest integrated power companies.<\/p>\n
\u201cWe appreciate DFC\u2019s assistance for our solar cell and module production facility in Tamil Nadu. This will go a long way in supporting the renewable and clean energy transition in the country,\u201d said Praveer Sinha, CEO & MD, Tata Power.<\/p>\n
The company in its press release said that the manufacturing plant would integrate advanced technologies enabling the production of high wattage solar modules and cells with industry-leading efficiencies.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US International Development Finance Corporation\u2019s (DFC) Board of Directors on Monday said it has approved $425 million in financing in TP Solar, a subsidiary of Tata Power Renewable Energy (TPREL), for its upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli district in Tamil Nadu, India. According to the official press release, the plant\u2019s first module production is expected by the year end and the first cell production is expected in the first quarter of financial year 2023-24. It added that pending a US congressional notification, this investment would support India\u2019s ambitious programme to increase renewable […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-602891","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/602891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=602891"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/602891\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=602891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=602891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=602891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}