Tata Power to build India's largest 10 GW solar unit in Andhra; shares dip 1.5%

• Tata Power Renewable Energy Ltd (TPREL) will invest Rs 6,675 crore in a 10 GW ingot and wafer manufacturing facility in Nellore, Andhra Pradesh.
• This greenfield project will be India's largest ingot and wafer manufacturing unit, reinforcing Andhra Pradesh's solar manufacturing hub status.
• The facility, cleared by SIPB and CM Chandrababu Naidu, will be located at IFFCO Kisan Special Economic Zone on 200 acres.
• It aligns with the Government of India's push for domestic manufacturing, creating 1,000 direct jobs and a 200 MW captive green power plant.
• Despite the major investment announcement, Tata Power shares fell over 1.5% on January 7.

Why It Matters: Tata Power's massive solar manufacturing investment in Andhra Pradesh boosts domestic production despite a slight share dip.