Waaree Energies Eyes 500 Acres in Nagpur for Rs 8,000 Crore Solar Manufacturing Plant
Waaree Energies Limited (WEL), one of the largest solar photovoltaic (PV) module manufacturers in India, has shown interest in acquiring 500 acres of land in Nagpur to establish a solar cell and panel manufacturing unit. The company’s planned investment of Rs 8,000 crore is part of a broader strategy to make Nagpur a key hub for renewable energy equipment manufacturing. This proposed project is expected to make a significant contribution to India's renewable energy sector and support the country’s efforts to reduce dependence on imported solar components.
The Maharashtra Industrial Development Corporation (MIDC) Additional Butibori industrial estate in Nagpur was recently visited by Waaree Energies as part of their exploration of potential sites for the project. Although no formal proposal has been submitted yet, the Maharashtra state government is hopeful that this investment will materialize, contributing to both the state’s economy and the growth of the renewable energy sector. If the project is finalized, it will be part of a growing number of renewable energy investments in the region.
Avaada Group and JSW Group are also planning manufacturing units in Nagpur, with combined investments of Rs 41,000 crore, strengthening the city’s renewable energy hub status.
Avaada Group, a key player in the renewable energy sector, is already constructing its solar manufacturing facility in the Additional Butibori estate. This plant, set to begin operations by March, will have an initial capacity of 6GW for solar cells and 5GW for solar modules. Avaada’s facility aims to meet the growing demand for solar products while reducing India’s reliance on imported solar components.
Similarly, JSW Group is looking to invest in Nagpur with plans for a lithium-ion battery manufacturing unit. The first phase of this project, which involves an investment of Rs 12,000 crore, will focus on lithium-ion battery production, further diversifying the region's industrial offerings.
The growing interest from renewable energy companies in Nagpur can also be attributed to global trends in clean energy. Industry experts suggest that the possible return of former US President Donald Trump to power could lead to reduced reliance on China for renewable energy products, creating new export opportunities for Indian manufacturers, including those based in Nagpur.
Currently, many Indian companies are already exporting solar panels to the United States, where Indian-made solar products have become increasingly competitive due to their cost-effectiveness and quality. This potential shift in global demand for renewable energy products is expected to play a crucial role in driving the growth of India's manufacturing sector, benefiting regions like Nagpur.
In addition to strengthening India’s position in the global market, the investments in Nagpur’s renewable energy sector are expected to bring economic benefits to the local community. Particularly, Micro, Small, and Medium Enterprises (MSMEs) stand to gain from the increase in industrial activity.
According to Julfesh Shah, Chairman of the Chamber of Small Industries Association (COSIA), Nagpur’s growing reputation as a hub for solar manufacturing will attract a diverse range of ancillary industries, which will further fuel job creation and economic development in the region.
Nagpur is on track to become a prominent center for the production of solar panels, solar modules, and other renewable energy technologies. The city’s strategic location, coupled with the growing investments in the sector, makes it an ideal destination for large-scale renewable energy projects.
Image source- waaree.com