Tata Power, a leading integrated power company, has announced ambitious plans to establish a wafer and ingot manufacturing facility with a substantial 10GW capacity. This strategic move marks Tata Power's significant entry into the crucial wafer and ingot segment, which forms the foundational material for solar cells. The company currently possesses an integrated module and cell manufacturing capacity of 4.9GW, making this backward integration a key step in expanding its presence across the solar component ecosystem.

CEO & MD Praveer Sinha highlighted that the company is actively finalizing the plant's location and technology for this new venture. This initiative aligns with the Indian government's broader objective to localize the solar module supply chain, thereby reducing the nation's reliance on imports. By entering the wafer and ingot space, Tata Power is poised to join a select group of renewable energy component manufacturers, including players like Adani Group, ReNew, Reliance Industries, Waaree, and Avaada Electro, aiming for comprehensive presence across the solar component value chain. Currently, Adani Solar is noted as the only major player operating across the entire ingot-to-module ecosystem.

Beyond its manufacturing expansion, Tata Power reported a robust financial performance for the July-September quarter (Q2 FY26). The company's consolidated net profit surged by 14% to ₹1,245 crore, supported by increased revenues which reached ₹15,769 crore, a 3% rise from the previous year. In terms of operational output, its solar cell manufacturing achieved 928 MW, and module manufacturing reached 970MW during the quarter. Praveer Sinha attributed this strong showing to the efficacy of the company's strategic initiatives and its integrated and diversified business model.

Looking ahead, Tata Power is also exploring new growth avenues. The company has formed a dedicated team to investigate opportunities in nuclear power generation, awaiting amendments to government laws that would permit private sector participation. Furthermore, with proposed changes to the Electricity Act, Tata Power is strategically positioned to significantly expand its power distribution footprint, targeting an impressive 40 million consumers by 2030. The company currently operates a diversified portfolio of 15.9GW, and its shares concluded trading at ₹395.60 apiece on the BSE on Tuesday.