Bhubaneswar: Waaree Energies Limited has reasoned out the decision behind strategic realignment of certain components of its planned 6 GW integrated solar manufacturing capacity in Odisha.
In a letter to Industries Secretary Hemant Sharma, CEO of the company Amit Paithankar attributed the decision to issues with availability of power critical for execution of the project within the timelines. Any delay in securing the same would have caused irreparable difficulties for all the stakeholders involved, he added.
“Considering the situation on ground and in the larger interest of all stakeholders involved, the Board of Directors of the company at its meeting held on June 20, 2025, has undertaken a strategic realignment of certain components of our planned 6 GW integrated solar manufacturing capacity across multiple geographies. This decision is aimed at accelerating project momentum, optimising resource utilisation and ensuring timely execution in line with the IPO objectives,” he wrote.
This explanation followed the company’s recent announcement of new solar manufacturing facilities in Gujarat, Maharashtra and Tamil Nadu, which fuelled speculation that it may be reconsidering its Rs 25,000 crore investment in Odisha. “We will now establish a 3 GW solar module plant at Samakhiali in Gujarat and develop the remaining 3 GW capacity at another site in Gujarat, Tamil Nadu, or an undisclosed location. Besides, a 6 GW solar cell manufacturing facility at Unn in Gujarat and a 6 GW wafer and ingot plant at Nagpur in Maharashtra will also be set up,” the company had stated in a regulatory filing with BSE and NSE on Friday, citing delays in executing the project at the specified location.
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Paithankar, however, clarified that land has been handed over to the company in Dhenkanal and construction activities have already commenced at the site. “Our commitment to Odisha remains strong. We continue to recognise the immense potential of the state and are grateful for the proactive support extended by the Odisha government. Odisha continues to hold a significant and strategic place in our long-term business roadmap, and we are actively exploring meaningful avenues for collaboration that advance both state and national renewable energy goals,” he added.
Waaree Energies is one of the major players in the solar energy industry focused on PV module manufacturing.
In April 2013, the High-Level Clearance Authority (HLCA) of the Odisha government had approved the Rs 25,000 crore project and the groundbreaking ceremony for the facility was held on December 15, 2024, in presence of Science and Technology Minister Krushna Chandra Patra. The plant was to be developed over 595 acre, create 14,000 jobs over five years and commence production by 2027. The facility was expected to produce solar panels, modules, and related components while generating 6 gigawatts of solar energy.
