Tata Power commits Rs 30,000 cr investment in Assam, to develop 5GW RE projects
Tata Power on Tuesday said it has inked an initial pact to develop 5 GW renewable and clean energy projects comprising solar, wind, hydro and energy storage with an investment of Rs 30,000 crore over next five years in Assam. Tata Power has inked a Memorandum of Understanding (MoU) with the Assam government to this effect.
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As part of this collaboration, the Assam government will facilitate the identification and allocation of approximately 20,000 acres of encumbrance-free government land on a lease basis and assist in acquiring private land suitable for solar, wind, hydro, and energy storage projects, a company statement said.
Additionally, it stated that the state will support infrastructure development to ensure seamless transmission, connectivity and promote the establishment of Renewable Energy Parks through state agencies.
The initiative will also include the identification of land for Group Captive sites, enabling industries and tea gardens to access clean energy under Assam's land allotment and Industrial policies.
To accelerate project execution, the government has committed to single-window clearances for statutory approvals, financial incentives, and collaboration with research institutions for innovation in the renewable sector, the company said.
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