Silicon Power Group, a renowned technology developer and high-power semiconductor solutions provider based in the United States, has expressed keen interest in setting up a cutting-edge 150mm Silicon Carbide manufacturing facility in the state of Odisha. This ambitious venture comes with a substantial investment of Rs 1,000 crore.
This grand project will be implemented by the company’s Indian Subsidiary, RiR Power Electronics. To signify their commitment to this endeavor, the company has taken a significant step by submitting a Letter of Intent (LoI) during a recent meeting with a delegation from the Government of Odisha. The delegation, on an official visit to the United States, received the LoI with enthusiasm.
During the meeting, the Odisha delegation presented comprehensive insights into the state’s robust industrial ecosystem. Moreover, they highlighted the attractive package of incentives available through various policies, including the recently approved Semiconductor Manufacturing and Fabless Policy by the state cabinet.
Excitingly, Silicon Power aims to expedite their plans by sending a delegation to Odisha within the next month. The company is determined to begin full-fledged operations within the span of 18 to 24 months.
This potential establishment of Silicon Power’s Silicon Carbide manufacturing facility in Odisha marks a significant milestone in advancing semiconductor technology in India. The project holds the promise of enhancing the country’s capabilities in the design, development, manufacturing, and testing of high-power semiconductor devices and utility-applicable systems.
With this bold initiative, Silicon Power aims to fortify its presence in the Indian market while contributing to the growth and development of Odisha’s industrial landscape.
