Waaree Energies board approves change in 6 GW ingot-to-solar module fab location

Waaree Energies board of directors has approved a change in the location of its 6 GW ingot-to-solar module manufacturing project from Odisha to multiple sites across Gujarat, Maharashtra, and other potential states.

June 20, 2025 Uma Gupta

Image: Waaree Energies/pv magazine

Waaree Energies’ Board of Directors has approved a change in the location of its 6 GW ingot-to-solar module manufacturing project.

The company was awarded the project with incentives of INR 19,232.40 million under the second round of the government’s Production Linked Incentive (PLI) Scheme for high-efficiency solar modules. Initially planned for Odisha, as disclosed in the IPO Prospectus dated October 23, 2024, the project was to be partially financed through net proceeds from the public issue.

Due to delays in project execution in Odisha, the Board has approved relocating the manufacturing to multiple sites across Gujarat, Maharashtra, and other potential states. The revised plan includes 3 GW module facility at Samakhiali, Gujarat; 3 GW module facility at Gujarat, Tamil Nadu or other potential locations; 6 GW cell facility at Unn, Gujarat; and 6 GW ingot and wafer facility in Nagpur, Maharashtra.

Waaree Energies stated that the relocation aims to expedite implementation and ensure effective utilization of IPO proceeds. The company added that the total capital outlay for the new project remains unchanged and provided a breakdown of the planned capital expenditure:

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