On 5^th July 2023, Cleantech Solar Corporation Pte Ltd involved in a developer that finances, constructs, owns and operates wind and solar photovoltaic projects and is headquartered located in Singapore decided to develop C&I solar PV projects of 60 MWp capacity in Tamil Nadu.

The agreement paved the way for the establishment of 60 MWp of open access to the solar park in Tirunelveli district in Tamil Nadu. In addition, the power supply from these projects is acquired by consumers on a captive basis and helps power up their manufacturing operation in the state of Tamil Nadu. The projects are being set up across various sectors including automotive, chemical and education across the state.

Additionally, the Chief Executive Officer of Cleantech Solar Corp., stated, “It is great to partner with the world’s one of the leading C&I customers, enabling them to make the move to green energy. Tamil Nadu state has been a leader in renewable energy development and the state-of-the-art solar park in the state is expected to provide clean energy to the public and help decarbonize & achieve their green energy targets. In addition to this, diversifying energy sources helps these corporations achieve stability of energy supply whilst providing considerable savings on the cost of electricity. These are grateful to be part of this green energy transition and look forward to building on these partnerships further.”  The partnerships forged between Cleantech Solar, and the C&I customers produce nearly 2,112 GWh of clean energy, curbing 1,932 kilotonnes of CO2 emissions. Cleantech recently marked its entry into the open-access segment of wind energy with its modern proposed wind energy projects. The company, in its latest development, signed an agreement with international industrial customers in Maharashtra and Tamil Nadu state for its upcoming 25 MW wind power projects in these states.

Furthermore, in the Union Budget 2022-23, the centre and state government allocated USD 2.57 billion for a PLI scheme to boost the manufacturing of high-efficiency solar modules. Globally, India ranks fourth in renewable energy capacity and wind power and fifth in solar power capacity. Also, rising foreign investment in the renewable sector such as the USD 75 billion investment from the United Arab Emirates is expected to promote further investments in the country.