Agastya Green Energy, part of the Anubhav Agarwal Group, is investing approximately Rs. 7,800 crore to build integrated 12 GW ingot and 12 GW wafer manufacturing capacity in Kurnool, marking a major expansion of its solar manufacturing operations.

 

The project, located in the Orvakal Industrial Area, will add upstream ingot and wafer production to the company’s existing solar cell and module manufacturing capabilities, creating a more integrated photovoltaic (PV) manufacturing value chain.

 

Agastya Energy said the expansion is aimed at increasing domestic value addition and strengthening India’s solar manufacturing ecosystem while reducing dependence on imported components.

 

The project is expected to create more than 3,500 jobs and represents the next phase of the company’s plan to build a globally competitive solar manufacturing platform in India.

 

Anubhav Agarwal, Chairman, AAG (Anubhav Agarwal Group), 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 Rs. 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.”

 

The company credited the Andhra Pradesh government for supporting large-scale manufacturing and renewable energy investments, and acknowledged Chief Minister N. Chandrababu Naidu, Minister Nara Lokesh and Industries Minister T. G. Bharath for their role in advancing the project.

 

The new capacity is also expected to create greater synergies across Agastya Energy’s manufacturing, independent power producer (IPP) and engineering, procurement and construction (EPC) businesses.

 

Piyush Bichhoriya, Director, 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, 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.”

 

With the new investment, Agastya Energy is positioning Kurnool as a key base for an integrated solar manufacturing chain spanning ingots, wafers, cells and modules, as India seeks to expand domestic renewable-energy manufacturing capacity.