PVTIME – Tata Power Renewable Energy Limited (TPREL), a Tata Power subsidiary, has announced plans to invest up to 65 billion Indian rupees (equivalent to $685 million) in setting up a solar ingot and wafer manufacturing facility in India. The project will deliver a total production capacity of 10GW, rolled out in two 5GW phases.
TPREL has highlighted the strategic benefits of the investment, including early market positioning in India’s constrained domestic sector, a secured supply of raw materials for downstream operations, and enhanced profit margins through vertical integration. The investment is expected to achieve a payback period of approximately five years.
Ingot and wafer manufacturing is a critical upstream segment of the solar supply chain that provides essential raw materials for downstream cell and module production. TPREL’s initiative supports its backward integration strategy, reducing reliance on imported products and aligning with India’s policy objective of self-reliance in domestic solar manufacturing.
The company adds that the investment will enable the full utilisation of policy incentives and demand protection mechanisms, particularly in light of the upcoming requirements under ALMM List III.
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