Waaree Energies Unveils ₹15,000 Cr Green Push to Power India’s Solar Future – EQ
In Short : Waaree Energies is ramping up its solar manufacturing capacity with a plannIed investment of nearly ₹15,000 crore. This includes setting up integrated facilities across India, including a 6 GW module-cell-ingot plant and a 5.4 GW solar cell gigafactory in Gujarat. Additionally, ₹3,500 crore will be invested in green energy ventures like battery storage, electrolysers, and inverters.
In Detail : Waaree Energies is set to make a significant leap in India’s solar manufacturing sector with a major investment plan nearing ₹15,000 crore. The company aims to boost its overall production capacity and diversify into clean energy technologies.
A major portion of the investment, around ₹9,000 crore, will be directed toward establishing a fully integrated 6 GW facility. This facility will handle ingot to module production, strengthening India’s self-reliance in solar manufacturing.
Initially proposed in Odisha, the plant will now be distributed across multiple states including Gujarat, Maharashtra, and Tamil Nadu. This strategic shift comes in response to delays in execution at the original location.
In addition to module manufacturing, Waaree has recently inaugurated a 5.4 GW solar cell gigafactory in Chikhli, Gujarat. This facility uses advanced TOPCon technology and is one of the largest of its kind in India.
The gigafactory represents an investment of approximately ₹2,500 to ₹3,000 crore. It enhances the domestic ecosystem for high-efficiency solar cells and supports India’s goal of becoming a global hub for renewable technologies.
Waaree also plans to invest ₹3,500 crore into its new clean energy businesses. These include a 300 MW electrolyser plant, a 3.5 GWh lithium-ion battery cell facility, and inverter production.
These new verticals will not only support the solar value chain but also position the company in emerging sectors like green hydrogen and energy storage. The investments are aligned with India’s broader energy transition goals.
The company’s CFO confirmed that Waaree currently has access to over ₹15,000 crore in funds through a mix of internal accruals and committed credit lines. This strong financial position enables aggressive expansion.
Waaree Energies’ multi-pronged investment approach signals a deep commitment to domestic manufacturing, sustainability, and innovation in the renewable energy sector.
