Tata Power Company will invest a whopping Rs 70,000 crore for 10 giga watt (Gw) solar and wind units in Tamil Nadu over a period of five-seven years.

If the investment fructifies, it may well be the largest single investment by Tata Power in any state.

A formal announcement of the 10 Gw generation is likely to happen on Monday, when a memorandum of understanding (MoU) will be signed between the state government and Tata Power.

This is in addition to a new greenfield 4.3 Gw solar cell and module manufacturing facility that the company is coming up with at Tirunelveli.

“We are looking at investing Rs 70,000 crore. This will happen over a period of five-seven years. We are going to set up a 10 Gw solar and wind project in Tamil Nadu,” said Praveer Sinha, chief executive officer (CEO) and managing director (MD) of Tata Power Company.

“Tamil Nadu has very good solar and wind resources. We are also setting up a large solar cell and module manufacturing facility in Tirunelveli. This will see an investment of Rs 4,000. Regarding the 10 Gw investment, we have not made any such investment in any state,” Sinha added.