Published On:May 14 2024
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Tata Power Group Commences Solar Module Manufacturing at TN Plant

Tata Power Group Commences Solar Module Manufacturing at TN Plant

Tata Power Group's subsidiary, Tata Power Renewable Energy Ltd, has commenced commercial production of solar modules at its newly established facility in Tamil Nadu. The plant, situated in Gangaikondan, Tirunelveli District, has already produced around 130 MW of modules in the March 2024 quarter, with solar cell production scheduled to begin next month.

The company aims to enhance its capacity to meet the demands of various projects requiring domestically manufactured products. The facility is projected to reach its peak capacity of 4.3 GW in the subsequent quarter after an anticipated stabilization period of three months.

During the Q4FY24 earnings call, Praveer Sinha, MD and CEO of Tata Power, highlighted the significance of domestically manufactured cells and modules, which are prerequisites for many government bids, excluding the rooftop program.

Under an agreement with the Tamil Nadu government signed in July 2022, Tata Power Renewable Energy Ltd plans to invest ₹3,000 crore to establish 4 GW of solar cells and modules in Gangaikondan. The expansion project, utilizing the latest TOPCon technology, includes upgrading infrastructure and adding 300 MW each of cell and module lines, with an additional investment of ₹800 crore over the next two years.

Initially, the modules produced will cater to the company's internal requirements. However, as production ramps up, Tata Power aims to explore external sales opportunities. The company also maintains its leadership position in the solar rooftop EPC segment, having installed over 2 GW of rooftop solar in India, commanding a 20% market share.

With the PM Surya Ghar Yojana program, Tata Power anticipates further growth in its solar rooftop initiatives. The Indian rooftop solar market has seen a compound annual growth rate (CAGR) of 17% over the past four years, with the country currently boasting 14.5 GW of installed solar rooftop capacity.

HBL





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