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Topaz Solar Power aims to set up a solar module manufacturing plant in Odisha with an annual capacity of producing 500 megawatts (MW) of solar panels.
This is going to be the first solar panel manufacturing facility in the state which of late has identified renewable energy as a priority area.
The project that will come up on 5 acres of land in the vicinity of Bhubaneswar has been estimated to cost Rs 220 crore. Of this, Rs 80 crore is going to be in the form equity with the rest Rs 140 crore being debt.
Rs 170 crore will be spent on imported equipment out of the total project cost.
