Tata Power Company’s renewable energy arm has approved entering a new business line focused on photovoltaic (PV) ingots and wafers, in which it will invest up to ₹6,500 crore.
The board of Tata Power Renewable Energy has cleared the move, positioning the company in the upstream solar value chain that supplies critical inputs for solar cells and modules, according to a regulatory filing.
The company plans to set up to 10 GW of ingot and wafer manufacturing capacity in two phases of 5 GW each.
Tata Power said the foray is expected to deliver strategic benefits, including supply security for its downstream solar operations, improved margins through vertical integration, and an early-mover advantage in a capacity-constrained domestic market. The company has projected a payback period of around five years for the investment.
The move also aligns with India’s broader push to reduce reliance on imports — particularly from China — and build a self-reliant renewable energy manufacturing ecosystem. Policy measures such as domestic content requirements and the approved list of models and manufacturers (ALMM) have supported this shift.
With this expansion, Tata Power is strengthening its presence across the renewable energy value chain, from generation to manufacturing, as it looks to capitalise on rising demand for clean energy and favourable policy support.