India’s Agastya Energy has announced solar ingot and wafer manufacturing plans for Kurnool
The Andhra Pradesh-located project carries an estimated investment of INR 7,800 crore
Agastya Energy says ingot and wafer production will expand its manufacturing activities upstream
Agastya Energy Industries, part of India’s edible oil manufacturer BN Group, is venturing into ingot and wafer production with 12 GW of integrated capacity in Kurnool, Andhra Pradesh, with an investment of around INR 7,800 crore.
It announced the launch of its integrated solar manufacturing facility with a flag-hoisting and ground-breaking ceremony conducted on site in the Orvakal Industrial Area.
The factory will house 12 GW each of ingot and wafer capacity, adding to its solar cell and module manufacturing capabilities, it claims. The company doesn’t share details about its manufacturing business; however, its website shows it plans to begin module production in 2026, followed by the first cell line in 2027 as part of its upcoming plans.
Founded in 2024, Agastya Energy started with a solar EPC business and says its activities now span across solar manufacturing, EPC, independent power producer (IPP), operations and maintenance (O&M), and battery energy storage systems (BESS).
Agastya Energy is led by CEO Bernhard Rack, who previously worked as the Chief Operating Officer for Solar PV Manufacturing at Adani Group. According to his LinkedIn profile, he was also CEO of Q-Cells Malaysia between 2008 and 2011.
Recently, several companies have announced plans to venture into solar ingot and wafer production to strengthen supply chain security and ensure upstream integration. This is aligned with the Government of India’s mandate to impose the Approved List of Models and Manufacturers (ALMM) List-III for domestically produced solar ingots and wafers (see India To Enforce ALMM List-III For Ingots, Wafers On June 1, 2028).
