Tata Power plans to hire primarily women for nearly 2,000 new roles

 Tata Power plans to hire primarily women for nearly 2,000 new roles

 

The provision of up to USD 425 million in financing for TP Solar Limited, a division of Tata Power Renewable Energy Limited (TPREL), for its upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli district in Tamil Nadu, India, was approved by the U.S. International Development Finance Corporation's (DFC) Board of Directors.

 

 

America's development financing organization is called DFC.

 

 

One of the biggest integrated power businesses in India, Tata Power, owns TPREL.

 

 

The first module manufacturing at the facility is anticipated to begin by year's end, and the first cell production is anticipated to begin in the first quarter of FY 24.

 

 

This investment would boost India's ambitious goal to enhance renewable energy manufacturing capacity to support domestic solar capacity expansion as part of its global green energy transition, pending notice to the U.S. Congress. Tata Power's financial backing from DFC will help safeguard the supply chain as the nation strives to lead the world in renewable energy.

 

 

DFC collaborates with global private sector actors to finance solutions to the most pressing problems now plaguing the developing world.

 

 

During the recently concluded G20 Summit in New Delhi, world leaders were discussing the energy transition and other crucial sustainability concerns. At that time, financial help was provided.

 

 

This financial assistance will help India fulfill its aim to generate 500 GW of sustainable energy by 2030.

 

 

"We value DFC's support for our Tamil Nadu-based solar cell and module manufacturing facility. It demonstrates the confidence and faith DFC has in Tata Power's capabilities to establish a cutting-edge manufacturing supply chain in the nation. This will significantly aid the nation's shift to clean and renewable energy. said Tata Power CEO and MD, Dr. Praveer Sinha.

 

 

Advanced technology will be incorporated into the Tirunelveli manufacturing facility to enable the production of high-wattage solar modules and cells with industry-leading efficiencies.

 

 

The facility will also put industry 4.0 norms for smart manufacturing into practice. Over 2000 jobs are anticipated to be directly or indirectly created by the plant, with local women making up the majority of the workforce.

 

 

Tata Power is dedicated to increasing its capacity for clean and green energy, with a target of going from 38% to 70% by 2030. The business is actively concentrating on increasing its renewable capacity and shifting to a consumer-oriented industry.

 

 

Tata Power now has a renewable portfolio of about 7.8 GW, with 4.1 GW operational and 3.6 GW under construction.

 

 

Additionally, the company has already run a solar cell and module production facility in Bengaluru, each with a 500 MW capacity.

Source: sightsinplus.com