Waaree Energies Ltd has issued a clarification reaffirming its continued commitment to Odisha for its 6 GW integrated solar manufacturing project.
Dr. Amit Paithankar, CEO and Whole-time Director of Waaree Energies, emphasized that Odisha remains an integral part of the company’s long-term business strategy.
“We want to emphasize that we are not moving away from Odisha. Construction activities are actively ongoing, and contracts for the Odisha facility have been duly awarded and are being executed as planned,” said Dr. Paithankar. “Our commitment to Odisha remains strong. We continue to recognize the immense potential of the state and are grateful for the proactive support extended by the Odisha government.”
The clarification follows a stock exchange filing in which the company announced its Board’s decision to relocate parts of the solar manufacturing capacity to other locations, including Gujarat, Maharashtra, and additional potential states. The move, according to Waaree, is aimed at expediting project execution and ensuring effective utilization of net proceeds from its recent IPO.
Dr. Paithankar added, “In light of the board resolution passed, Waaree Energies Ltd has undertaken a strategic realignment of certain components of its planned 6 GW integrated solar manufacturing capacity across multiple geographies. This decision is aimed at accelerating project momentum, optimizing resource utilization, and ensuring timely execution in line with our IPO objectives.”
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