Press release – RIR Power Electronics Ltd

BSE listed – Market Cap – 1600 Cr
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Government of Odisha approves fiscal support for Phase 1 of RIR Power Electronics’ Silicon Carbide (SiC) semiconductor plant in Bhubaneswar

August 7, 2025: 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 the 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.

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