Tata Power has inaugurated a solar cell and module manufacturing facility in Tamil Nadu with a production capacity of 4.3 GW. The plant, established with an investment of ₹4,300 crore ($508 million), spans 317 acres and is dedicated to serving India’s domestic solar market.
According to Praveer Sinha, CEO of Tata Power, the plant’s production for the next 12 to 16 months has already been committed to domestic projects. While the facility currently focuses on meeting local demand, India’s solar export market has seen rapid growth. In the past two years, Indian solar module exports have increased 23 times, with the U.S. accounting for 97% of these shipments.
India’s current solar module manufacturing capacity is approximately 80 GW, but domestic production of solar cells is limited to 7 GW, resulting in a reliance on imports. Tata Power’s facility has the potential to expand by an additional 4 GW, with future scaling contingent on market conditions.
The company has outlined ambitious financial and operational goals, targeting annual revenue of ₹1 trillion by 2030, compared to ₹615 billion in FY 2024. Tata Power also plans to more than double its annual profit to ₹100 billion by 2030. Between FY 2025 and FY 2030, the company has planned a capital expenditure of ₹1.46 trillion, with 60% allocated to renewable energy initiatives.
This investment aligns with Tata Power’s focus on renewable energy and sustainability, supporting India’s transition to cleaner energy sources.