Tata Power Co. Ltd. reached an exploratory settlement with the federal government of Tamil Nadu to take a position an estimated 708 billion rupees ($8.5 billion) in clear power initiatives, as the corporate seeks to decarbonize its technology capability.

The agency signed a preliminary cope with the southern Indian state to construct 10 gigawatts of renewable power initiatives and broaden an current plan for photo voltaic panel manufacturing to 4.3 gigawatts of capability, it mentioned in a filing Tuesday.