Government of Odisha approves fiscal support for Phase 1 of RIR Power Electronics' Silicon Carbide semiconductor plant in Bhubaneswar

The Electronics & Information Technology Department, Government of Odisha, has approved fiscal support for Phase 1 for RIR Power Electronics Limited towards its Silicon Carbide (SiC) semiconductor manufacturing facility in Odisha. Odisha Computer Application Center (OCAC), the nodal agency for Electronics & Information Technology Department, Government of Odisha has approved and notified the fiscal support agreement for pro-rata disbursement of capital subsidy to the Company.

This project was approved by the State-Level Single Window Clearance Committee (SLSWCC) and the state cabinet in last fiscal year with a total project cost of ~₹618 crore for both, phase-1 and phase-2.

Project Financials and Status:

- Total project cost: ~₹618 crore

- Capital expenditure incurred: ~₹65 crore and eligible government capital subsidy: ~₹32 crore

"We extend our sincere gratitude to the Government of Odisha for their forward-thinking support in helping bring this first-of-its-kind SiC semiconductor facility to life. Their backing empowers us to introduce advanced technologies and modern manufacturing capabilities to the state. This development lays a strong foundation for innovation, employment generation, and energy-efficient solutions in electric vehicles, renewables, power electronics, and industrial automation across India," said Dr. Harshad Mehta, Chairman & Director, RIR Power Electronics Limited.

The progress made above represents a significant step in our efforts to become a leading player from India in the high power semiconductor manufacturing and contribute meaningfully to the Make in India initiative. The facility will manufacture high-power SiC MOSFETs, IGBTs and diodes ranging from 3.3 kV to 20 kV, catering to key industries such as:

- Electric Vehicles (EVs)
- Renewable Energy and Power Grid Systems
- Power Electronics
- Industrial Automation

SiC semiconductors, known for their high performance and energy efficiency, are expected to transform power-based technologies, boost local manufacturing capacity, and drive sustainable industrial growth across the country.

Source : Equity Bulls

Keywords

RIRPowerElectronics FiscalSupport GovernmentofOdisha Phase1 SiC SemiconductorManufacturingFacility