Japanese Investment Boosts Solar Manufacturing in Karnataka

Japan's Hosoda Holdings is establishing a solar cell manufacturing unit in Karnataka with an investment of Rs 882 crore. In collaboration with Tong Tar Energy Solutions, this project is expected to generate 500 jobs. The initiative aligns with Karnataka's focus on solar energy development, with other Japanese companies planning expansions.

Japan's Hosoda Holdings is set to establish a solar cell manufacturing unit in Karnataka, with an investment of Rs 882 crore, as confirmed by state Industries Minister M B Patil on Friday.

The project, in collaboration with Tong Tar Energy Solutions (TTES), was initially slated for a Rs 490 crore investment but has now increased, according to a press release from the minister.

During a meeting with Hosoda Holdings Chairman Nakamura, Minister Patil highlighted the rise in investment, adding that it is projected to create approximately 500 jobs in the state. The decision supports the state government's push for solar power generation. Additionally, Japanese sports equipment manufacturer Inabata & Co plans operations in Karnataka by 2027, while Tsujikawa India eyes expansion in the region.

(With inputs from agencies.)