Tata Power Renewable approves Rs 6,500 crore PV ingot and wafer venture
Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited, has approved entry into photovoltaic (PV) ingot and wafer manufacturing, marking a move into upstream solar production.
The Board of Directors cleared a proposed investment of up to Rs 6,500 crore to develop manufacturing capacity of up to 10 GW. The capacity will be built in two phases of 5 GW each.
The venture targets domestic production of key inputs used in solar cell and module manufacturing. The company stated that the move is intended to reduce reliance on imports, which are currently dominated by China, while supporting its downstream operations.
TPREL expects gains from vertical integration, including improved supply security and margin enhancement. The project is estimated to have a payback period of around five years.
The initiative aligns with India’s policy focus on strengthening domestic solar manufacturing, including the upcoming Approved List of Models and Manufacturers (ALMM) List III requirements.
The featured photograph is for representation only.
