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Agastya Energy announces Rs 7,800-cr expansion
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Saturday, 22 August, 2026, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Agastya Green Energy LTD , a part of Anubhav Agarwal Group, announced its expansion into Integrated 12 GW Ingot and Wafer manufacturing at the Orvakal Industrial Area in Kurnool, Andhra Pradesh with a project cost of approximately Rs 7,800 crore. The expansion will complement the company’s existing solar cell and module manufacturing capabilities.
The project will establish 12 GW each of integrated ingot and wafer manufacturing capacity, strengthening its domestic manufacturing capabilities and enabling greater domestic value addition within India’s solar manufacturing sector. The Pooja marks the commencement of this next phase of growth, which is expected to generate 3,500+ employment opportunities and further its vision of building an integrated and globally competitive solar photovoltaic 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. We are grateful to Government of Andhra Pradesh for its continued support and commitment to fostering a conducive environment for large-scale manufacturing and renewable energy investments. We extend our sincere appreciation to N. Chandrababu Naidu, Chief Minister of Andhra Pradesh; Nara Lokesh, Minister of Human Resources Development, Information Technology, Electronics & Communication, Real Time Governance of Andhra Pradesh; and T. G. Bharath, Minister of Industries, Commerce and Food Processing. Their leadership, vision and encouragement have been instrumental in advancing industrial growth, strengthening investor confidence and enabling transformative projects that contribute to India’s clean energy future.”
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.”
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