Tue Sep 10 23:19:46 UTC 2024: ## Tata Power Stock Soars on Launch of India’s Largest Solar Cell Plant
**Mumbai, India** – Tata Power Company’s stock surged over 5% on Tuesday, reaching Rs 440.50 on the Bombay Stock Exchange, driven by the commencement of commercial production at its subsidiary TP Solar’s new solar cell plant in Tirunelveli, Tamil Nadu.
The new facility, boasting a massive 4.3 GW capacity, is the largest single-location solar cell and module plant in India. Utilizing advanced TOPCon and Mono Perc technologies for enhanced efficiency, the plant signifies a major leap in India’s domestic solar manufacturing capabilities. This development is expected to play a crucial role in achieving India’s ambitious solar energy targets and net-zero goals.
TP Solar, a subsidiary of Tata Power Renewable Energy Limited (TPREL), has already commenced production with a 2 GW solar cell line, following the successful launch of its solar module production in October 2023. The remaining 2 GW capacity is set to be operational within the next 4-6 weeks, reaching peak production within a few months.
Tata Power has invested approximately Rs 4,300 crore in the Tirunelveli plant, which has already produced 1,250 MW of solar modules. The facility will initially cater to the company’s existing projects, strengthening its supply chain. Furthermore, Tata Power plans to explore broader market distribution of its solar cells and modules.
The company’s existing Bengaluru facility, with a production capacity of 682 MW for solar modules and 530 MW for solar cells, has already supplied a total of 3.73 GW of solar modules and 2.26 GW of solar cells.
This significant investment in solar cell manufacturing is a testament to Tata Power’s commitment to sustainable energy solutions and its strategic role in India’s clean energy transition.
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