Waaree Energies on Monday announced the groundbreaking of its solar ingot and wafer manufacturing facility at Butibori in Nagpur, with the aim of strengthening India’s upstream solar manufacturing ecosystem. Post the announcement, shares of Waaree Energies were trading lower by 1.4% at ₹2,688.50 on the BSE, with a market capitalisation of ₹77,332 crore.

The upcoming facility will have 10 GW capacity each for solar ingots and wafers, making it the largest integrated ingot and wafer manufacturing complex in India, Waaree Energies said in a release. The project is aimed at supporting the country’s push toward energy security and domestic manufacturing in the renewable energy sector.

Spread across 300 acres, the project will be developed with an investment of around ₹6,200 crore. The facility will focus on the production of high-purity solar ingots and wafers, key components that form the foundation of the solar photovoltaic value chain, the release noted.

The company said the project will help strengthen India’s domestic capabilities in upstream solar manufacturing, reducing dependence on imported components and improving supply chain resilience for the rapidly expanding solar sector.

Once operational, the facility is expected to generate more than 8,000 direct and indirect employment opportunities, supporting regional economic development, skill creation, and industrial growth in Maharashtra.

Hitesh Doshi, Chairman and Managing Director of Waaree Energies, said India’s clean energy transition will depend not only on expanding renewable energy capacity but also on building strong domestic manufacturing capabilities across the solar value chain.

“India’s clean energy transition will be powered not only by renewable deployment but also by building strong domestic manufacturing capabilities across the solar value chain. The groundbreaking of our integrated ingot and wafer facility in Nagpur marks an important step in strengthening India’s upstream solar manufacturing ecosystem,” he said.

He said the Nagpur facility would strengthen India’s upstream solar manufacturing ecosystem by creating large-scale domestic capacity for critical components such as ingots and wafers, helping reduce import dependence and improving the resilience of the country’s solar supply chain.

Doshi added that Nagpur’s strategic location, strong industrial ecosystem, and connectivity make it an ideal destination for a project of this scale. The initiative will also contribute to local employment generation, skill development, and industrial growth in the region.

India is emerging as one of the world’s fastest-growing renewable energy markets, supported by policy initiatives aimed at expanding domestic manufacturing and enhancing energy independence. The new facility is expected to further reinforce India’s solar manufacturing base and support the country’s long-term clean energy ambitions.