Heavy Buying: Company Begins Solar Cell Production at India’s Largest 4.3 GW Single-Location Plant in Tamil Nadu – Volume Spurt Over 5.36x on BSE!
This manufacturing plant is India's largest single-location integrated facility and is run by an 80 per cent women workforce.
TP Solar Ltd, a leading cell and module manufacturing company in India and a subsidiary of Tata Power Renewable Energy Ltd (TPREL), has officially commenced commercial production from its 2 GW solar cell line at its state-of-the-art facility in Tirunelveli, Tamil Nadu. This marks the country’s largest single-location solar cell and module plant. Following the earlier success of solar module production, this new milestone significantly advances India’s clean energy goals while reducing reliance on imports.
With an initial 2 GW solar cell production capacity, Tata Power is now better positioned to meet the increasing demand for high-quality, domestically produced solar components, particularly for large-scale projects.
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The facility is expected to further ramp up its production, adding the remaining 2 GW capacity over the next 4 to 6 weeks, reaching full production capacity in the coming months. To date, the module production line, commissioned in October 2023, has already produced 1,250 MW of solar modules, and the plant is set to achieve a total cell and module manufacturing capacity of 4.3 GW.
On Tuesday, the shares of Tata Power closed at around Rs 445.20 per share on the BSE. The company’s current market capitalization stands at Rs 1,42,256.52 crore. Additionally, the company’s shares have delivered a return of over 65 per cent in the past 1 year.
As per the Quarterly Results, in Q1 FY25, Tata Power recorded a revenue of Rs 17294 crore compared to Rs 15213 crore same quarter last year. The operating profit stood at Rs 3062 crore. The net profit stood at Rs 1189 crore compared to a profit of Rs 1141 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 61449 crore in FY24. The operating profit for FY24 was Rs 10735 crore with a net profit of Rs 4280 crore compared to a net profit of Rs 3810 crore in FY23.
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Disclaimer: The article is for informational purposes only and not investment advice.