Renaissance Solar to invest Rs 5,000 crore in Karnataka

Bengaluru: Renaissance Solar and Electronic Materials (RSOLEC), an Indo-US joint venture, plans to invest Rs 5,000 crore to set up a 5 GW solar ingot and wafer manufacturing facility in Tumakuru, Karnataka industries minister MB Patil said.

The company has sought 100 acres of land in the Chennai-Bengaluru Industrial Corridor (CBIC) region in Tumakuru for the proposed facility, Patil said in a statement after meeting RSOLEC chairman and CEO Milind S Kulkarni on Thursday.

The plant will manufacture solar ingots and wafers, used for manufacturing solar wafers, and is expected to start operations by mid-2028, he said.


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The company has sought 80 MW of power and 10 million litres per day of water for the facility. The state government will consider the requirements, Patil said.

RSOLEC has also sought special incentives from the Karnataka government, with discussions on the proposal under way, he said.

Renaissance, headquartered in Chennai, manufactures single-crystal silicon and wafers for the solar industry.

Industries department principal secretary Selvakumar, industries commissioner Khushboo Goel, Karnataka Industrial Areas Development Board CEO Govinda Reddy and industries minister's technical adviser Aravind Galagali were present at the meeting.