Tumakuru (Karnataka) [India], October 1 (ANI): Renaissance Solar and Electronic Materials (RSOLEC) has expressed interest in investing Rs 5,000 crore in the Chennai-Bengaluru Industrial Corridor region in Tumakuru, Karnataka, Minister for Large and Medium Industries MB Patil said on Thursday.

The announcement follows discussions held at Khanija Bhavan between Patil and RSOLEC Chairman and Chief Executive Officer Milind S. Kulkarni, reiterating plans initially declared at Invest Karnataka 2025.

Patil noted that the India-US enterprise operates with an established footprint across the solar sector, specifically in single-crystal silicon growth and wafer fabrication. The firm now intends to secure 100 acres in the corridor area to set up a 5 GW solar ingot and wafer production plant.

Speaking on the occasion, Patil said that the company has established a strong presence in the solar sector, particularly in single-crystal silicon growth and wafer manufacturing.

The minister added that it has sought 100 acres of land in the CBIC region to establish a 5 GW solar ingot and wafer manufacturing facility. A final decision will be taken after discussions on the company's other requirements. 

Headquartered in Chennai, the enterprise is staffed by technical professionals and requires dedicated utility infrastructure to run the planned operations. The proposal lists essential utility allocations comprising 80 MW of electricity supply along with 10 MLD of daily water access.

The company has highlighted two key requirements for the proposed facility: 80 MW of power and 10 MLD of water. These requirements will be considered positively. If everything proceeds as expected, the company is likely to commence manufacturing operations by mid-2028, he said.

In addition to standard clearances, the promoter firm has sought customised fiscal backing to support the capital outlay.

The company has also sought a Special Incentive Package from the State Government. Discussions on this are currently under way at the highest level, Patil said.

The official review meeting included Principal Secretary to the Department of Industries S. Selvakumar, Commissioner Khushboo Goyal, Karnataka Industrial Areas Development Board Chief Executive Officer Govind Reddy, and Technical Adviser to the Industries Minister Aravind Galagali. (ANI)