Sunsure Energy has pledged an investment of Rs 3,150 crore in renewable energy projects in Tamil Nadu in the next three years.
As part of the memorandum of understanding with the state government, it will set up four renewable energy projects with a combined capacity of 500 Megawatt (MW), the company said in a statement on Monday.
"Sunsure Energy signs MoU with Tamil Nadu for Rs 3,150 crore investment in the state's renewable energy capacity over the next 3 years. The agreement is aimed at bolstering Tamil Nadu's renewable energy capacity through four greenfield projects with a combined capacity of 500 MW," it said.
The projects will be set up at various locations, including Tuticorin & Tirunelveli, Theni, and Tiruchirappalli, the company said.
The projects have the potential to create more than 1,200 jobs in the state.
The company intends to develop three solar power plants with capacities of 100 MW each and a wind power plant with capacities of 200 MW strategically positioned across the state.
"We will utilise our sectoral expertise in the renewable energy sector to contribute our part in boosting the state's renewable energy generation capacity and support its socio-economic and development goals," Sunsure Energy Founder, Chairman & CEO Shashank Sharma said.
Sunsure Energy is one of India's largest commercial and industrial (C&I) focused renewable energy power producers.