Move boosts Indo-Japanese clean energy collaboration and strengthens state’s renewable hub ambitions

Japan’s Hosoda Holdings will invest Rs 882 crore in a solar cell manufacturing plant in Karnataka, marking a significant addition to India’s renewable energy manufacturing base. The facility, being developed in partnership with Tong Tar Energy Solutions (TTES), is expected to generate around 500 jobs and deepen Indo-Japanese cooperation in clean energy.

TTES had earlier committed Rs 490 crore to the project, but Hosoda’s entry has expanded the overall outlay. The agreement was formalised at the Global Investors Meet in Feb. 2025, with the Karnataka government assuring support on land and regulatory approvals to fast-track execution.
The development underlines both Karnataka’s ambitions of becoming a hub for solar manufacturing and Japan’s growing interest in India’s clean energy sector. Analysts say the investment strengthens India’s broader renewable energy roadmap, which depends heavily on building domestic capacity in the solar value chain.

Hosoda joins a growing roster of Japanese companies expanding in Karnataka. Inabata & Co is setting up a sports equipment facility slated for production by 2027, while Tsujikawa India is planning to expand its advanced engraving and die-cutting operations in the state. The clustering of Japanese investments points to the emergence of a potential industrial corridor.

The Rs 882 crore investment signals rising global interest in India’s solar value chain and underscores Karnataka’s position as a renewable energy hub. While direct employment may be limited, the project is expected to spur ancillary opportunities in logistics, equipment supply and maintenance. Analysts say the cluster effect of Japanese firms could unlock wider technology transfer and bilateral industrial ties.

As India sharpens its focus on energy self-reliance and net-zero targets, investments of this scale are likely to play a pivotal role in strengthening domestic clean energy capacity.