Bengaluru, Oct. 8 -- Renaissance Solar and Electronic Materials (RSOLEC), an India-US solar and semiconductor materials company, has expressed interest in investing Rs. 50 bn in the Chennai-Bengaluru Industrial Corridor (CBIC) region in Tumakuru to establish a solar ingot and wafer manufacturing facility, Karnataka Minister for Large and Medium Industries M B Patil said on Thursday. The proposal involves a facility with a planned capacity of 5 GW.
RSOLEC has sought 100 acres in the CBIC region for the proposed project. Patil held a detailed discussion with RSOLEC Chairman and Chief Executive Officer Milind S Kulkarni, who met the minister to discuss the investment proposal and the company's requirements.
A final decision on the project will be taken after discussions on those additional requirements, Patil said. No timeline for the decision or indication that land has been allotted to the company was provided.
RSOLEC is a technology-led enterprise established by professionals with technical expertise and is headquartered in Chennai. The company operates in solar and semiconductor materials and has established a presence in single-crystal silicon growth and wafer manufacturing.
The proposed Tumakuru facility would cover the production of solar ingots and wafers, according to details shared by the minister. The investment proposal is at the stage of expressing interest and seeking land, with the company's other requirements still subject to discussion. Further consideration by the state authorities will determine whether the proposed 5 GW facility proceeds in the CBIC region.
Published by HT Digital Content Services with permission from Construction World.