The Tamil Nadu Cabinet, led by Chief Minister M.K. Stalin, approved investment proposals worth Rs 44,125 crore from 15 companies across sectors on Tuesday.
The projects span the electronics, food processing, renewable energy, and battery manufacturing sectors and will significantly change the state’s economic landscape and create 24,000 jobs.
Announcing the decision after the cabinet meeting, Finance Minister Thangam Thennarasu highlighted Sembcorp Industries’ Rs 21,340 crore investment in Thoothukudi and Motherson Electronics’ Rs 2,600 crore commitment in Kancheepuram as significant contributors. Milky Mist also announced investments of Rs 1,777 crore in Erode and Rs 1,597 crore in Krishnagiri.
The cabinet also greenlit three new policies in the state’s energy sector: the Tamil Nadu Small Hydel Projects Policy, the Windmill Repowering and Wind Life Extension Policy, and a pump storage policy.
These policies, driven by a strong commitment to renewable energy, are poised to increase the state’s installed wind capacity to an impressive 20,000 MW by 2030. This is a significant step towards a greener future and will bridge the infrastructure gaps in the sector.
While the small hydel projects policy focuses on bidders and permits entities to opt for captive power use if generation exceeds limits, the wind repowering and life extension policies will support windmills in the state that are nearly four decades old.
The wind repowering policy also offers a banking facility, allowing producers to bank up to 50 percent of additional generation within the same financial year.
The dividends are beginning to pay off as Tuesday’s investment announcement followed the state’s record-setting feat of solar power generation, which reached 5,979 MW on Friday and absorbed an all-time high of 4.41 million units.
This achievement underscores Tamil Nadu’s commitment to renewable energy and its potential to become a leading state in this sector.
According to Tangedco officials, this marked the first time peak generation and maximum absorption occurred on the same day.
However, wind energy absorption on Friday was muted following rain showers that slowed down the speed of the breeze. It absorbed 51.27mu of wind power
On Friday, Tamil Nadu consumed 352.20mu of power and the maximum demand for the day was 16,237 MW.
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