Tata Power Announces 10 GW Solar Ingot and Wafer Manufacturing Plant

Tata Power announced plans on November 11 to set up a 10 gigawatt (GW) ingot and wafer manufacturing facility in India, aiming to shore up the country’s upstream solar component ecosystem, CEO Praveer Sinha announced in a media call following the comoany's Q2 results announcement.

This expansion plan comes at a time when India is heavily reliant on imported ingots and wafers despite having rising module (100 GW) and cell (27 GW) production capacity.​ The government has declared plans to go for a domesric wafer manufactiring list by 2028 to ensure domestic production of wafers as well. Tata Power, which has expanded its cell and module making capacity over the past twp years, the move ito wafers and ingots will align with its long term goals as well.   

The final site for the plant will be decided within two months, with Tata Power assessing offers from states and weighing Central government incentives. Currently, Tata Power only has integrated cell and module manufacturing units with a total capacity of 4.9 GW in Tamil Nadu

“We are analysing various aspects such as the Central government’s plan for fresh incentives to boost wafer and ingot manufacturing in India. Besides, the location will also be dependent on which state offers the most subsidy or support to set up such a plant,” Sinha explained.​

Dip in Q2 FY26

Tata Power posted a marginal dip in Q2 FY26 consolidated net profit, down to INR 919.4 crore from INR 926.5 crore year-on-year, partly attributed to heavy monsoons and operational shutdowns. The company could also not operate its Mudhra thermal plant under section 11. 

Q2 revenue also slipped 1 percent to INR 15,544 crore, while EBITDA fell 11.8 percent to INR 3,302 crore, with operating margins contracting to 21.2 percent from 23.9 percent YoY.​

The company is also looking to invest INR 1,572 crore for a 40 percent stake in a special purpose vehicle developing the 1,125 MW Dorjilung hydropower project in Bhutan. The acquisition is set to proceed in tranches alongside partner Druk Green Power Corporation Ltd. (DGPC) with a 30:70 equity debt ratio. The firm recently signed up for a 50 MW FDRE deal with Acme Solar.

Notably, India and Bhutan recently signed MoU this week for the renewable energy cooperation.

Tata Power is also exploring land for nuclear power initiatives and may expand its coal portfolio, depending on regulatory cues.​

“With proposed amendments to the Electricity Act, Tata Power is well-positioned to expand its distribution footprint to 40 million consumers by 2030. As India’s power sector evolves, Tata Power remains committed to innovation, sustainability, and energy self-reliance across the value chain,” CEO Sinha affirmed.