New Delhi: Tata Power Company Limited said its subsidiary, Tata Power Renewable Energy Limited (TPREL), has approved entry into photovoltaic ingot and wafer manufacturing with a planned capacity of up to 10 GW, according to a regulatory filing made to the stock exchanges on Thursday. The company said the board “has approved adoption of a new line of business - Photovoltaic (PV) Ingot and Wafer manufacturing.”
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The filing said, “The proposed new line of business falls under upstream Solar Photovoltaic (PV) manufacturing, specifically PV Ingot and Wafer manufacturing. This segment represents a critical part of the solar value chain, supplying key inputs for downstream cell and module manufacturing.”
It added that “The foray into ingot and wafer manufacturing supports backward integration, reduces dependence on imports (currently dominated by China), and positions the Company to benefit from India’s policy driven push towards domestic self-reliance in solar manufacturing, particularly in view of the forthcoming ALMM List III requirements.”
The company said, “The proposed investment is expected not exceeding Rs 6,500 crore, based on the overall planned capacity upto 10 GW ingot-wafer manufacturing capacity in the two phases of 5 GW each.”
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According to the 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.”
“The project also aligns with national manufacturing priorities and positions the Company to leverage policy incentives and demand protection mechanisms,” said Tata Power.