As per industry sources, ITI Limited is planning to invest around Rs 1.5 billion to increase its solar panel manufacturing capacity to 90 MW in the next financial year. At present, the company has a solar panel capacity of 18 MW.
ITI Limited’s solar panel manufacturing facility is located at Naini in Uttar Pradesh.
The company is hoping to obtain this sum of Rs 1.5 billion from the budget allocated to the Department of Telecommunications (DoT).
The company is expecting at least Rs 5 billion from the government in the next fiscal for meeting its various capital expenditure requirements.