ITI Clarifies Solar PV Manufacturing Tender Status Following BSE Query
ITI has officially clarified to BSE that its solar photovoltaic module manufacturing project at Naini plant in Prayagraj is currently in the Request for Proposal stage. The company disclosed that a similar tender floated in March 2025 could not be materialized due to high bid rates, while confirming no material impact on operations as the initiative remains in preliminary tendering phase.
*this image is generated using AI for illustrative purposes only.
ITI has provided official clarification to BSE regarding its solar photovoltaic module manufacturing tender at the Naini plant in Prayagraj, following surveillance queries about recent market activity. The company confirmed that the project remains in the Request for Proposal (RFP) stage and disclosed that a similar tender attempt in March 2025 was unsuccessful due to high bid rates.
BSE Surveillance Response
In response to BSE's inquiry dated March 16, 2026, regarding news reports about the solar manufacturing initiative, ITI clarified the current status of the project. The company emphasized that the tender process is in its preliminary stages and does not constitute price-sensitive information requiring disclosure under SEBI regulations.
| Project Details: | Information |
|---|---|
| Capacity Options: | 100 MW, 250 MW, or 500 MW |
| Location: | Naini Unit, Prayagraj |
| Current Status: | RFP Stage |
| Previous Attempt: | March 2025 (unsuccessful) |
| Reason for Previous Failure: | High bid rates |
Tender Process Update
The company has initiated steps toward establishing solar module manufacturing lines with three capacity configurations: 100 MW, 250 MW, or 500 MW. This flexible approach allows ITI to evaluate various proposals based on technical capabilities and commercial viability. The initiative represents the company's strategic move to strengthen its presence in the renewable energy sector.
Regulatory Compliance Statement
ITI confirmed that no material events are pending disclosure to stock exchanges that could impact the company's share price or trading volume. The company reiterated its commitment to complying with Regulation 30 of SEBI (LODR) Regulations, 2015, ensuring timely disclosure of all price-sensitive information.
Strategic Implications
The clarification reveals that while ITI remains committed to entering the solar PV manufacturing sector, the project timeline may be extended due to commercial considerations. The unsuccessful March 2025 tender highlights the challenges in securing cost-effective manufacturing partnerships in the competitive solar equipment market. The company's measured approach reflects careful evaluation of market conditions and vendor capabilities before finalizing the manufacturing setup.
Historical Stock Returns for ITI
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.21% | -9.87% | -9.77% | -19.60% | -2.27% | +111.63% |
Will ITI consider alternative manufacturing partnerships or in-house development if the current RFP also receives commercially unviable bids?
How might the government's solar manufacturing incentives and PLI schemes influence ITI's final capacity selection between 100-500 MW?
Could ITI's entry into solar PV manufacturing create synergies with its existing telecom infrastructure business for integrated energy solutions?
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