Waaree plans to spread some of its planned 6 GW Odisha capacity to various locations in India
Delays experienced in the current location and the need to meet deadlines are the reasons the management cites for the change
The total estimated project cost remains INR 90.5 billion, according to the management
Indian solar PV manufacturer Waaree Energies Limited has announced plans to spread out some of its planned 6 GW integrated solar manufacturing in Odisha to multiple locations within India.
Waaree’s 6 GW plans for Odisha comprised establishing ingot, wafer, solar cell and module manufacturing capacity, to be financed from INR 30 billion raised via an initial public offering (IPO) (see Waaree Targets Up To INR 30 Billion Via IPO).
The management explained that the decision is aimed at accelerating project momentum, optimizing resource utilization, and ensuring timely execution in line with its IPO objectives, as it experiences delays at the current location.
Out of the 6 GW integrated planned capacity, 3 GW of module capacity will be diverted to Samakhiali in Gujarat, 3 GW module capacity to Gujarat/Tamil Nadu or any other location, 6 GW solar cell capacity to Unn in Gujarat, and 6 GW ingots and wafers at Nagpur in Maharashtra.
This distribution will not significantly impact its overall project cost, which is estimated at INR 90.5 billion ($1.04 billion).
It will, however, continue to remain invested in Odisha, where construction activities are actively ongoing. Contracts have been awarded and are being executed, stated the management in a stock exchange filing.
“These adjustments reflect our operational agility and ongoing efforts to position Waaree Energies for sustainable growth, while keeping Odisha as an important and integral part of our future plans,” said Waaree Energies Limited’s Whole-Time Director and CEO, Dr. Amit Paithankar.
As of March 2025, Waaree’s total installed solar PV capacity stood at 15 GW for solar PV modules, including 1.3 GW of Indosolar and 1.6 GW in Texas, and also includes 5.4 GW of cell manufacturing capacity.