Tata Power Renewables Approves INR 6,500 Cr Investment for 10 GW PV Ingot and Wafer Plant
Tata Power Renewable Energy has approved an INR 6,500 crore investment to set up 10 GW PV ingot and wafer manufacturing capacity – to be developed in two phases of 5 GW each – marking its entry into upstream solar manufacturing.
May 01, 2026. By Mrinmoy Dey
The decision marks the company’s strategic entry into upstream solar manufacturing – a critical segment that supplies essential inputs for downstream cell and module production. This foray is aimed at strengthening backward integration, improving supply chain resilience, and reducing India’s reliance on imports, which are currently dominated by China, the company stated in a regulatory filing.
The company plans to invest up to INR 6,500 crore to establish a total ingot and wafer manufacturing capacity of 10 GW, to be developed in two phases of 5 GW each. The initiative aligns with India’s policy push for domestic solar manufacturing, particularly in light of upcoming ALMM List III requirements, which are expected to further incentivise local value addition, the company stated in a regulatory filing.
“In addition to revenue generation, the project offers strategic benefits including early mover advantage in a capacity-constrained domestic market, enhanced supply security for downstream operations, improved margins through vertical integration, and strong financial returns with a projected payback period of approximately five years,” stated the company.
The project also aligns with national manufacturing priorities and positions the company to leverage policy incentives and demand protection mechanisms, it said.
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