Tata Power to Invest 30,000 Cr. in RE Projects in Assam

Tata Power Company Limited has signed an Memorandum of Understanding (MoU) with Assam government for investing Rs. 30,000 crore to develop 5 GW of Renewable Energy (RE) projects in the state. The company will make this investment over the next 5 years.

As per this MoU, Tata Power will develop renewable energy projects comprising solar, wind, hydro and energy storage projects in Assam. Assam Government will facilitate the identification and allocation of approximately 20,000 acre of government land on a lease basis for development of these RE projects.

Tata Power will also set up captive RE power plants for Tata Group industries and tea gardens in the state, providing them with access to clean energy. To speed up project execution, the government will facilitate approvals for these projects through single-window clearances. Under this MoU, the state government will also offer financial incentives and collaborate with research institutions for these projects.