Agastya Energy to invest Rs 7,800-Cr in 12 GW ingot, wafer manufacturing in Kurnool
Kurnool (Andhra Pradesh), Aug 15 (TNT): Agastya Green Energy Limited, part of Anubhav Agarwal Group, on Saturday announced an investment of around Rs 7,800 crore to establish integrated ingot and wafer manufacturing facilities with a capacity of 12 GW each at Orvakal Industrial Area in Kurnool district.
The expansion would complement the company’s existing solar cell and module manufacturing capabilities and strengthen domestic value addition in the country’s solar manufacturing sector, the company said in a release here.
The project is expected to generate more than 3,500 employment opportunities and marks the commencement of the next phase of the company’s expansion to build an integrated solar photovoltaic manufacturing platform in India.
Anubhav Agarwal, Chairman of Anubhav Agarwal Group, said the investment reflected the group’s long-term commitment to India’s energy transition and strengthening domestic manufacturing capabilities.
He said strengthening domestic manufacturing would help meet the country’s growing energy requirements, reduce import dependence and create a resilient energy ecosystem.
Piyush Bichhoriya, Director, Agastya Energy, said the ingot and wafer manufacturing facilities would form a critical upstream component of the company’s integrated solar manufacturing strategy and complement its existing cell and module capabilities.
The integrated facility would bring together ingot, wafer, cell and module manufacturing, enabling greater domestic value addition and deeper integration across the photovoltaic value chain, the company said.
Agastya Energy CEO Bernhard Rack said the expansion would strengthen the company’s capabilities across ingots, wafers, cells and modules and contribute to India’s emergence as a major hub for clean energy manufacturing.
The company said the project was aligned with the government’s Make in India and Atmanirbhar Bharat initiatives and would support India’s renewable energy, energy security and domestic solar manufacturing objectives.
Agastya Energy also acknowledged the support of the Andhra Pradesh Government in promoting large-scale manufacturing and renewable energy investments, and expressed appreciation to Chief Minister N. Chandrababu Naidu, Minister Nara Lokesh and Industries Minister T.G. Bharath for their support.
TNT KM
