Date : 21-June-2025
Waaree Energies, India's largest solar module manufacturer, has scrapped its plan to setup an Integrated Solar Manufacturing facility in Odisha, citing execution delays. Directors has approved a change in the location of its 6 GW ingot-to-solar module manufacturing project from Odisha to multiple sites across Gujarat, Maharashtra, and other potential states.
As per the revised plan, Waaree proposes:
- 3 GW module capacity at Samakhiali, Gujarat
- 3 GW module capacity at Gujarat/Tamil Nadu/another location
- 6 GW cell capacity at Unn, Gujarat
- 6 GW ingot and wafer capacity at Nagpur, Maharashtra
The company was awarded the project with incentives of INR 19,232.40 million under the second round of the government’s Production Linked Incentive (PLI) Scheme for high-efficiency solar modules. Initially planned for Odisha, as disclosed in the IPO Prospectus dated October 23, 2024, the project was to be partially financed through net proceeds from the public issue.
The withdrawal of the odisha project raises fresh questions over the state’s investment climate for large-scale solar manufacturing. several other companies, including saatvik energy, grew solar, icon solar, and jupiter energy, have recently expressed interest in setting up facilities in odisha.
References :
Waaree Junks Odisha Solar Plant Plan, Moves To Other States
Waaree Energies board approves change in 6 GW ingot-to-solar module fab location – pv magazine India