The Tata Power Company (NSE:TATAPOWER, BOM:500400) has entered into a memorandum of understanding with the state government of Assam, India to support upto 5,000 MW of renewable and clean energy projects, according to a Tuesday filing to the Indian stock exchanges.
These renewable energy projects, including solar, wind, hydro, and energy storage, will entail an investment of 300 billion Indian rupees over the next five years.
Under the pact, the Assam government will facilitate the identification and allocation of around 20,000 acres of encumbrance-free government land on a lease basis and help the company in acquiring private land suitable for solar, wind, hydro, and energy storage projects.
The company's subsidiary Tata Power Renewable Energy has also entered into an MoU with Assam Power Distribution Company to collaborate on scaling up rooftop solar adoption.
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