Tata Power's Ambitious Solar Project Set for 2024 Reveal

Tata Power aims to finalize a 10 GW wafer and ingot project by January 2024, investing Rs 6,500 crore. The plant, which will complete Tata Power's solar manufacturing, is part of a backward integration strategy. The company is exploring locations in India for the facility.

Tata Power is gearing up to finalize its ambitious 10-gigawatt wafer and ingot project by January next year, a move that's expected to significantly bolster its position in the solar manufacturing sector. With a hefty investment of Rs 6,500 crore, the project is poised to integrate Tata Power's solar manufacturing capabilities.

The company is currently in discussions with several Indian states, including Odisha, Tamil Nadu, and Andhra Pradesh, to determine the most suitable location for the project, according to CEO and MD Praveer Sinha. Tata Power is weighing state policies and incentives to make its decision, Sinha noted.

The firm already boasts a diversified energy portfolio of 15.9 GW, comprising thermal, solar, and wind. Additionally, Tata Power is venturing into the nuclear energy sector, plans to develop small modular reactors once legal amendments for private participation are in place.

(With inputs from agencies.)