Waaree Energies Relocates 6 GW Solar Manufacturing Project from Odisha.

Waaree moves ingot-wafer, cell & module plants to Gujarat/Maharashtra citing delays, dealing a setback to Odisha’s solar hub ambitions.

Gujarat and Maharashtra to Host New Plants as Company Revises Expansion Strategy.

Key Changes in Waaree’s Manufacturing Plan

✔ 6 GW integrated solar facility shifted out of Odisha
✔ New locations:

  • 3 GW module plant → Samakhiali, Gujarat
  • 3 GW module plant → Gujarat/Tamil Nadu (TBD)
  • 6 GW solar cells plant → Unn, Gujarat
  • 6 GW ingot-wafer plant → Nagpur, Maharashtra

✔ Reason: Delays in Odisha execution, need to expedite IPO fund utilization


Strategic Implications

1. Blow to Odisha’s Solar Ambitions

  • ₹14,489 crore in approved solar investments at risk
  • Inox Solar (4.8 GW) & others (Grew, Jakson, Saatvik) still committed
  • State’s industrial policy incentives under scrutiny

2. Waaree’s Revised Roadmap

  • Faster execution in Gujarat/Maharashtra’s established industrial corridors
  • Proximity to ports for export-oriented manufacturing
  • Better infrastructure readiness vs. Odisha

3. Market Impact

📈 Positive for Waaree:

  • Faster capacity ramp-up to meet PLI obligations
  • Optimized supply chain logistics

📉 Challenges for Odisha:

  • Perception risk for future investments
  • Need for improved project facilitation

Industry Reactions

Solar Manufacturer (Anonymous):
“Gujarat/Tamil Nadu offer plug-and-play infrastructure. Odisha must address execution bottlenecks to attract more players.”

Odisha Govt Spokesperson:
“We remain committed to solar manufacturing. Other projects are progressing well, and we’re enhancing single-window clearances.”


Financial & Operational Context

💰 IPO Proceeds Utilization:

  • ₹3,000+ crore raised in Sept 2024
  • Deadline pressure to deploy funds

🛠️ Capacity Timeline:

  • Phase 1 (3 GW modules) operational by Q3 2026
  • Full 6 GW integration by 2027

State-wise Solar Manufacturing Landscape

StateCommitted Capacity (GW)Key Players
Gujarat25+Waaree, Tata, First Solar
Tamil Nadu18+Amplus, Vikram Solar
Odisha10+Inox, Grew, Jakson

What’s Next?

🔹 Waaree’s formal agreements with Gujarat/Maharashtra
🔹 Odisha’s counter-strategy to retain investors
🔹 PLI Scheme monitoring for timely capacity creation


Exit mobile version