Tata Power to set up Rs 6,675-cr 10 GW ingot-wafer unit in Andhra, shares fall 1.5%

Tata Power to set up Rs 6,675-cr 10 GW ingot-wafer unit in Andhra, shares fall 1.5%

• Tata Power to set up 10 GW ingot and wafer facility in Nellore, Andhra Pradesh
• Rs 6,675 crore project to create 1,000 direct jobs and boost solar manufacturing
• Tata Power shares fell 1.75% after announcement of the new facility

Did our AI summary help?

Tata Power shares fell over 1.5% on January 7, a day after the company said Tata Power Renewable Energy Ltd (TPREL) will set up a greenfield 10 GW ingot and wafer manufacturing facility at Nellore, Andhra Pradesh, with an investment of Rs 6,675 crore.

The project will be the largest ingot and wafer manufacturing facility in the country, reinforcing Andhra Pradesh's position as a leading hub for advanced solar manufacturing, state government officials said.

The project has been cleared by the State Investment Promotion Board (SIPB) chaired by Chief Minister Chandrababu Naidu.

At 2 pm on January 7, Tata Power shares were trading 1.75% lower at Rs 380 apiece.

The facility will be developed at the IFFCO Kisan Special Economic Zone, where the Government of Andhra Pradesh has earmarked 200 acres for the project, including 120 acres for the initial phase and 80 acres for future expansion.

The ingots and wafers produced at the facility are critical inputs for solar cells, modules, and semiconductor applications, and the project aligns with the Government of India's push to strengthen domestic manufacturing and reduce import dependence for strategic components.

The project is expected to generate around 1,000 direct jobs, in addition to significant indirect employment during construction and allied activities. As part of its clean energy commitment, TPREL will also establish a 200 MW captive green power plant to supply renewable energy to the facility.

Andhra Pradesh's ready-to-use industrial land, robust infrastructure, port connectivity, and assured access to green power were key enablers in attracting this landmark investment.

Nellore is rapidly emerging as a solar manufacturing cluster, with several leading renewable energy companies already planning or executing large-scale manufacturing projects in the region.

Welcoming the investment, IT and Electronics Minister Nara Lokesh said, "Andhra Pradesh is proud to host yet another landmark investment from the Tata Group. This project is a strong vote of confidence in our state's policy stability, infrastructure readiness, and commitment to clean energy manufacturing. It will create high-quality jobs, strengthen our solar manufacturing ecosystem, and contribute meaningfully to India's energy transition." This project marks TPREL's first manufacturing investment in Andhra Pradesh under its broader renewable energy expansion plans and further cements the state's reputation as one of India's most investor-friendly destinations.

The Government of Andhra Pradesh remains committed to enabling world-class manufacturing through speedy approvals, plug-and-play infrastructure, and a pro-industry policy framework, positioning the state at the forefront of India's renewable energy and advanced manufacturing journey.