India's Tata Power to set up 4-GW solar cell, module factory

Indian power producer and solar equipment maker Tata Power Co Ltd (BOM:500400) on Monday presented plans for a greenfield factory to make 4 GW of photovoltaic (PV) cells and modules in the state of Tamil Nadu.

The company has signed a Memorandum of Understanding (MoU) with the local government that outlines its plan for an INR-30-billion (USD 379m/EUR 366.4m) investment in the project. Its plan envisages disbursing the amount over a period of 16 months.

The production facility will be established in the Tirunelveli district of Tamil Nadu. It will integrate Mono-PERC bifacial technology with future n-Type technology of Tunnel Oxide Passivated Contacts (TOPCON).

The project is set to create Tata Power’s second PV manufacturing base and is expected to open 2,000 jobs, directly and indirectly. At present, the Indian firm has one plant in Bangalore, Karnataka state, where it can produce 635 MW of modules and 500 MW of PV cells. The facility was opened in 1991 and was recently upgraded with a Mono-PERC cell line.

(INR 10 = USD 0.126/EUR 0.122)

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