Odisha Govt Approves Fiscal Support for RIR Power’s SiC Semiconductor Facility

Capital subsidy cleared for Phase 1; project targets ₹618 crore investment across two phases

The Electronics & IT Department of the Government of Odisha has approved fiscal support for Phase 1 of RIR Power Electronics Ltd’s upcoming silicon carbide (SiC) semiconductor manufacturing facility. The Odisha Computer Application Center (OCAC), acting as the nodal agency, has formalised the capital subsidy agreement, enabling pro-rata disbursement based on incurred capex.

The project, originally cleared by the State-Level Single Window Clearance Committee (SLSWCC) and the state cabinet last fiscal, involves a total investment of approximately ₹618 crore across two phases. As of August 2025, the company has incurred a capital expenditure of around ₹65 crore, making it eligible for a government subsidy of ₹32 crore.

The facility will focus on manufacturing high-power SiC MOSFETs, IGBTs, and diodes in the 3.3 kV to 20 kV range. These components are critical to segments such as electric vehicles (EVs), renewable energy systems, power grids, industrial automation, and power electronics. SiC-based semiconductors offer superior energy efficiency and performance compared to traditional silicon-based devices, and are seen as central to next-generation power technologies.

The company currently has a market capitalisation of ₹1,690 crore. As of today's close, the stock ended 2.47% higher at ₹220.20. Over the past three years, RIR Power has delivered a strong financial track record, with revenue growing at a 3-year CAGR of 26.8% and profit at 33.2% CAGR. It also maintains a conservative balance sheet with a debt-to-equity ratio of 0.13, reflecting strong operational discipline.

RIR Power Electronics is a global pioneer in high-power semiconductor solutions. Its portfolio spans high-performance devices, assemblies, and energy management systems that support both established and emerging energy applications.

This article is intended for informational purposes only and should not be considered as investment advice.