Agastya Green Energy Ltd, part of the Anubhav Agarwal Group (AAG), plans to develop an integrated 12 GW ingot and wafer manufacturing facility in the Orvakal Industrial Area in Kurnool, Andhra Pradesh, with an estimated investment of INR 78 billion ($815.8 million).
The facility will have 12 GW each of ingot and wafer manufacturing capacity, complementing the company’s planned solar cell and module manufacturing operations.
Agastya Energy told pv magazine that it is planning 5 GW of solar cell and module manufacturing capacity in two phases. The first phase will comprise 2 GW of cell and module capacity. The company said it will review the remaining capacity in line with future demand, while evaluating opportunities for both vertical and horizontal expansion.
“Our INR 7,800 crore investment in Agastya Energy reflects our long-term conviction in India’s energy transition and our commitment to building globally competitive manufacturing capabilities at scale,” said AAG Chairman Anubhav Agarwal. “We believe that strengthening domestic manufacturing will be critical to meeting India’s growing energy needs, reducing import dependence and creating a resilient energy ecosystem for the decades ahead.”
“The expansion into ingot and wafer manufacturing marks a critical upstream pillar of Agastya Energy’s integrated solar manufacturing strategy, complementing our solar cell and module capabilities and strengthening our end-to-end PV value chain,” said Piyush Bichhoriya, director of Agastya Energy. “It will deepen our presence across the solar ecosystem, drive greater domestic value addition, and create synergies across manufacturing, IPP and EPC.”
“The global energy transition is creating a strong need for resilient, scalable and globally competitive solar manufacturing. This expansion will strengthen Agastya Energy’s capabilities across ingots, wafers, cells and modules. It marks an important step towards establishing India as a leading hub for clean energy manufacturing,” added Agastya Energy CEO Bernhard Rack.
The integrated facility will bring together ingot, wafer, cell and module manufacturing, enabling greater manufacturing efficiency and integration across the upstream and downstream segments of the photovoltaic value chain.
Agastya Energy’s ingot and wafer expansion comes as India’s Ministry of New and Renewable Energy (MNRE) expands the Approved List of Models and Manufacturers (ALMM) framework to include ingots and wafers. The move is aimed at strengthening supply chains, reducing import dependence and improving quality across the solar value chain.
The ALMM requirement for solar wafers will take effect on June 1, 2028.
