₹7,800 Crore Investment Takes Agastya Energy Into 12 GW Ingot and Wafer Manufacturing

Kurnool project will add 12 GW each of ingot and wafer capacity to existing solar cell and module operations and is expected to create more than 3,500 jobs

Agastya Green Energy Limited, part of the Anubhav Agarwal Group, has announced an investment of approximately ₹7,800 crore to expand into integrated ingot and wafer manufacturing at the Orvakal Industrial Area in Kurnool, Andhra Pradesh.
The project will establish 12 GW each of ingot and wafer manufacturing capacity, complementing the company’s existing solar cell and module manufacturing capabilities. The expansion will bring multiple stages of photovoltaic manufacturing together as Agastya Energy develops an integrated solar manufacturing operation in India.
The project is expected to generate more than 3,500 employment opportunities. A Pooja marked the commencement of this next phase of the company’s expansion.

Anubhav Agarwal, Chairman of AAG, said, “At AAG, our focus is on building businesses that contribute meaningfully to India’s growth and advance our vision to empowering India’s journey towards energy security. Our ₹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. 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.”
Agastya Energy also expressed its appreciation to the Government of Andhra Pradesh for its support for manufacturing and renewable energy investments.

The company acknowledged N. Chandrababu Naidu, Chief Minister of Andhra Pradesh; Nara Lokesh, Minister of Human Resources Development, Information Technology, Electronics and Communication, Real Time Governance of Andhra Pradesh; and T. G. Bharath, Minister of Industries, Commerce and Food Processing.
According to the company, their leadership and support have contributed to industrial development, investor confidence and the advancement of projects associated with India’s clean energy sector.
Piyush Bichhoriya, Director of Agastya Energy, said, “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. It will deepen our presence across the solar ecosystem, drive greater domestic value addition, and create synergies across manufacturing, IPP and EPC. As we scale, our focus remains on efficient execution and building a future ready platform to support India’s growing renewable energy needs. In many ways, this is our contribution to Powering the Age of India.”

Bernhard Rack, CEO of Agastya Energy, said, “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.”
The integrated facility will bring ingot, wafer, solar cell and module manufacturing together. The company expects the project to increase domestic value addition and manufacturing efficiency while creating greater integration between upstream and downstream segments of the photovoltaic value chain.

The project comes as India continues to develop its solar manufacturing and renewable energy ecosystem. The Ministry of New and Renewable Energy is progressively strengthening the ALMM framework, including ALMM List III, for solar photovoltaic modules, cells and wafers.
In this context, the Kurnool project aligns with the Government of India’s Make in India and Atmanirbhar Bharat priorities. The facility is intended to contribute to domestic solar manufacturing while supporting the country’s renewable energy and energy security ambitions.

ABOUT AGASTYA ENERGY GROUP
Agastya Energy Group is a renewable energy company headquartered in New Delhi and is part of AAG. The company operates across the solar photovoltaic value chain and has capabilities spanning solar module and cell manufacturing, Independent Power Production, EPC, and operations and maintenance.
The company is expanding its manufacturing capabilities across ingots, wafers, solar cells and modules while developing greater integration across its solar operations.
Agastya Energy has a growing presence across India and is focused on technology, operational efficiency and sustainable development. Its expansion plans are aimed at increasing domestic value addition, improving supply chain resilience and supporting India’s renewable energy requirements.

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