SEPTEMBER 20248TATA POWER COMMENCES INDIGENOUS MANUFACTURE OF SOLAR CELLSDAEWOO TESTS INDIA'S WATERS BY FORAYING INTO HOME APPLIANCES SEGMENTTP Solar Ltd., a subsidiary of Tata Power Renewable Energy Ltd. (TPREL), has begun producing solar cells at India's largest single-location plant in Tirunelveli, Tamil Nadu. This move is set to bolster domestic manufacturing of solar cells and modules, Korean brand Daewoo on Monday announced its foray into the kitchen and home appliances segment in India as it looks to capture a larger share of the growing Indian market. The company, which entered the domestic market last year, offers a range of LED TVs, IFP LEDTVs, Alkaline and battery inverters.further supporting India's clean energy goals and reducing reliance on imports.The company, which had earlier started producing solar modules at the same facility, currently has a solar cell production capacity of 2 GW, with plans to ramp up to 4 GW in the coming weeks. The Tirunelveli plant's total capacity for both cells and modules is 4.3 GW, with 1,250 MW of solar modules already produced since the commissioning of the module line in October 2023.Dr. Praveer Sinha, CEO and MD of Tata Power, emphasized the significance of this development in supporting India's push for self-reliance in solar energy production and achieving a Net-Zero carbon future. The Rs 4,300 crore investment in the facility underscores Tata Power's commitment to renewable energy. Initially, the solar cells and modules from the plant will supply Tata Power's ongoing projects, strengthening its supply chain.In addition to the Tirunelveli plant, Tata Power operates another manufacturing facility in Bengaluru, Karnataka, which has a capacity of 682 MW for solar modules and 530 MW for solar cells. This facility has so far supplied 3.73 GW of solar modules and 2.26 GW of solar cells. It said that the company's entry into India has been met with overwhelming success, prompting the brand to accelerate its journey in the domestic market and expand its product portfolio with smart kitchen and home appliances.Building on its initial success with handpicked products, the brand is now venturing into the smart kitchen and home appliances segment, aiming to capture a larger share of the growing Indian market, it said.These products are set to hit retail stores soon, Daewoo said, adding that it will launch a wide array of products including induction plates, mixers and grinders, blenders, toasters, sandwich makers, and steam irons, among others."The small home appliance market in India is enormous, with room for everyone. Consumers have gradually shifted towards high-quality products that come with reliable after-sales services and warranties," said H S Bhatia, Managing Director of Daewoo India.Daewoo also said that having established a robust presence in the Northern and Western regions of India in less than six months, the company is now looking to expand its footprint further into the Southern and Eastern markets. TOP STORIES
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