Agastya Green Energy, part of the Anubhav Agarwal Group (AAG), is expanding its solar manufacturing footprint with an investment of approximately ₹7,800 crore to establish an integrated ingot and wafer manufacturing facility at the Orvakal Industrial Area in Kurnool, Andhra Pradesh.
The project will add 12 GW of ingot manufacturing capacity and 12 GW of wafer manufacturing capacity, strengthening Agastya Energy’s position in India’s solar photovoltaic manufacturing industry. The expansion will complement the company’s existing solar cell and module manufacturing capabilities, creating a more vertically integrated production platform spanning ingots, wafers, cells and modules.
The facility is expected to generate more than 3,500 employment opportunities, making it a significant renewable energy manufacturing investment for Andhra Pradesh.
₹7,800 Crore Investment Targets Solar Supply-Chain Integration
Agastya Energy’s ₹7,800 crore investment comes as Indian solar manufacturers increasingly seek to localise upstream components that have historically depended heavily on imports.
By establishing 12 GW each of integrated ingot and wafer capacity, Agastya Energy plans to increase domestic value addition while gaining greater control over critical stages of solar PV manufacturing.
The Kurnool facility will integrate ingot, wafer, solar cell and module production, potentially improving manufacturing efficiency and supply-chain resilience across upstream and downstream operations.
Agastya Energy also operates across Independent Power Production (IPP), engineering, procurement and construction (EPC), and operations and maintenance (O&M). The addition of ingot and wafer manufacturing is expected to create further synergies between its manufacturing, IPP and EPC businesses.
Anubhav Agarwal, Chairman of Anubhav Agarwal Group, said the ₹7,800 crore investment reflects the group’s long-term confidence in India’s energy transition and its strategy of building large-scale domestic manufacturing capabilities.
The investment is designed to help reduce import dependence while supporting India’s growing electricity and renewable energy requirements.
Agastya Energy Expands From Modules and Cells to Ingots and Wafers
The new investment represents an important upstream expansion for Agastya Energy. Instead of concentrating primarily on the downstream portions of solar manufacturing, the company is building capabilities across four major stages of the photovoltaic manufacturing chain — ingots, wafers, cells and modules.
Piyush Bichhoriya, Director of Agastya Energy, said the ingot and wafer expansion represents a critical upstream pillar of the company’s integrated solar manufacturing strategy.
Bernhard Rack, CEO of Agastya Energy, said the expansion would strengthen the company’s capabilities across ingots, wafers, cells and modules as global demand grows for resilient and scalable solar manufacturing supply chains.
The ₹7,800 crore Kurnool project, with 12 GW of ingot capacity and 12 GW of wafer capacity, represents a major step in its strategy to develop an integrated solar manufacturing platform.
With more than 3,500 jobs expected from the expansion, Agastya Energy is positioning the project around three priorities shaping India’s solar industry: greater domestic value addition, stronger supply-chain resilience and large-scale manufacturing capacity.
SHAFANA FAZAL