Agastya Green Energy Limited, part of the Anubhav Agarwal Group (AAG), has announced an investment of approximately ₹7,800 crore to establish an integrated 12 GW ingot and wafer manufacturing facility at the Orvakal Industrial Area in Kurnool, Andhra Pradesh.
The project will establish 12 GW each of ingot and wafer manufacturing capacity, complementing Agastya Energy’s existing solar cell and module manufacturing capabilities. The expansion is aimed at strengthening the company’s domestic manufacturing capabilities and increasing value addition across India’s solar photovoltaic (PV) value chain.
The project commencement ceremony marks the beginning of the company’s next phase of growth and is expected to generate more than 3,500 employment opportunities. The integrated facility will bring together ingot, wafer, cell and module manufacturing, enabling greater manufacturing efficiency and deeper integration across the upstream and downstream segments of the solar PV value chain.
₹7,800 Crore Investment to Strengthen Domestic Solar Manufacturing
Anubhav Agarwal, Chairman, Anubhav Agarwal Group, said the investment reflects the group’s long-term confidence in India’s energy transition and its commitment to developing globally competitive manufacturing capabilities at scale.
He said strengthening domestic manufacturing will be critical to meeting India’s growing energy requirements, reducing import dependence and creating a resilient energy ecosystem over the coming decades.
The company also acknowledged the support of the Government of Andhra Pradesh and its leadership in promoting large-scale manufacturing and renewable energy investments in the state.
Integrated PV Manufacturing Strategy
Piyush Bichhoriya, Director, Agastya Energy, said the expansion into ingot and wafer manufacturing represents a critical upstream component of the company’s integrated solar manufacturing strategy.
The new capacity will complement Agastya Energy’s solar cell and module manufacturing operations while strengthening its end-to-end PV value chain. The company expects the integrated manufacturing platform to create synergies across its manufacturing, independent power producer (IPP) and engineering, procurement and construction (EPC) businesses.
Bernhard Rack, CEO, Agastya Energy, said the global energy transition is driving demand for resilient, scalable and globally competitive solar manufacturing. He added that the expansion will strengthen Agastya Energy’s capabilities across ingots, wafers, cells and modules and support India’s ambition to emerge as a leading clean energy manufacturing hub.
Alignment with India’s Solar Manufacturing Goals
The integrated facility comes as India continues to strengthen its domestic solar manufacturing ecosystem. The Ministry of New and Renewable Energy (MNRE) has been progressively strengthening the Approved List of Models and Manufacturers (ALMM) framework, including ALMM List III covering solar PV modules, cells and wafers.
Agastya Energy said the facility aligns with the Government of India’s Make in India and Atmanirbhar Bharat initiatives. The company expects the expansion to contribute to greater domestic value addition, energy security and the development of a globally competitive solar manufacturing ecosystem in India.
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