Tata Power planning 10 GW solar wafer and ingot capacity: CEO

New Delhi: Tata Power plans to set up a wafer and ingot manufacturing facility with a 10GW capacity, its chief executive officer and managing director (CEO & MD) Praveer Sinha said on Tuesday.

This would be Tata Power's foray into the wafer and ingot space. Currently, it has an integrated module and cell manufacturing capacity of 4.9GW. Ingots and wafers are base materials used to make solar cells.

"As far as our backward integration is there, we have plans to set up a 10 gigawatt wafer and ingot plant. We are deciding on the location of the plant and the technology and, hopefully, we will be in a position to finalize it," he said.

On plans to expand the modules capacity, Sinha said the company has adequate capacity for modules and cells.

The company on Tuesday announced that its solar cell and module manufacturing achieved output of 928 MW of cells and 970MW of modules in Q2 FY26.

The move comes amid government's plans to localize the solar module supply chain and reduce import dependence. With its foray into wafers and ingots, Tata Power would be among the few renewable energy component manufacturing companies to be present across the solar component ecosystem.

In October, Mint reported that Avaada Electro, the solar module manufacturing arm of Avaada Group, plans to develop indigenous ingot-to-solar module manufacturing capacity starting FY28. Several companies in the country, including the Adani Group, ReNew, Reliance Industries, and Waaree have plans to operate in the complete solar component ecosystem. Currently, Adani Solar is the only major player present across the ingot-to-module ecosystem.

Tata Power's consolidated net profit rose 14% in the July-September quarter to ₹1,245 crore, aided by increased revenues, it said on Tuesday. Its revenue for the quarter was ₹15,769 crore, 3% higher from the same period a year ago.

Sinha said that “Tata Power has reported a robust performance in Q2FY26 and H1FY26, reflecting the strength of strategic initiatives and decisions taken by company towards its integrated and diversified business model.”

Addressing the media on the company's nuclear power plants, the CEO said that company has set up a team of about six people focussed on nuclear power and would look into further plans after the government amends the laws to let private sector into the nuclear power generation space.

On the company's plans to expand its presence in the power distribution space, he said: “With proposed amendments to the Electricity Act, Tata Power is well positioned to expand its distribution footprint to 40 million consumers by 2030.”

Tata Power Company Ltd, an integrated power company, owns a diversified portfolio of 15.9GW.

Shares of the company ended little changed at ₹395.60 apiece on the BSE on Tuesday.