Tata Power Company Limited has informed the Exchange about Tata Power Renewable Energy Limited (TPREL), a subsidiary of the Company, at its meeting held today, has approved adoption of a new line of business - Photovoltaic (PV) Ingot and Wafer manufacturing.
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Tata Power's subsidiary TPREL has approved entering the Photovoltaic (PV) Ingot and Wafer manufacturing business. The company plans to invest up to ₹6,500 crore to set up 10 GW capacity in two phases of 5 GW each. This is a backward integration move to support its existing solar cell and module operations, reducing dependence on imports which are currently dominated by China. The investment aligns with India's domestic solar manufacturing push and ALMM List III requirements. The company expects the project to have a payback period of approximately five years with strong financial returns and early mover advantage in the domestic market.
This strategic expansion strengthens Tata Power's vertical integration in the solar value chain and positions it to benefit from government policy incentives for domestic manufacturing. The significant ₹6,500 crore investment signals strong commitment to the renewable energy sector but will require capital deployment over multiple years.