Renaissance keen to invest ₹5,000 crore in Tumakuru: M. B. Patil

Bengaluru: As announced at Invest Karnataka 2025, Renaissance Solar and Electronic Materials (RSOLEC), an India-US solar and semiconductor materials company, has expressed interest in investing ₹5,000 crore in the Chennai-Bengaluru Industrial Corridor (CBIC) region in Tumakuru, Minister for Large and Medium Industries M. B. Patil said on Thursday.

He held a detailed discussion with RSOLEC Chairman and Chief Executive Officer Dr. Milind S. Kulkarni, who met him at Khanija Bhavan here.

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

RSOLEC is a technology-led enterprise established by professionals with technical expertise and has its headquarters in Chennai. 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.

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.

Principal Secretary, Department of Industries, S. Selvakumar; Commissioner Khushboo Goyal; KIADB Chief Executive Officer Govind Reddy; and Technical Adviser to the Industries Minister Aravind Galagali were present on the occasion.