Sanginita Chemicals' subsidiary Agastya Energy to invest ₹7,800 crore in 12GW solar manufacturing
Sanginita Chemicals' subsidiary, Agastya Green Energy, will invest ₹7,800 crore to establish 12 GW ingot and 12 GW wafer manufacturing capacity in Kurnool, Andhra Pradesh. This expansion aims to bolster India's solar manufacturing capabilities and create over 3,500 jobs.
The substantial investment of ₹7,800 crore in integrated solar manufacturing represents a major strategic move that will significantly impact the company's future growth, market position, and contribution to India's energy independence.
The announcement details a significant investment in expanding manufacturing capacity, which is positive for the company's growth and India's renewable energy sector.
Sanginita Chemicals Limited, through its wholly-owned subsidiary Agastya Green Energy Limited, has announced a significant expansion into integrated solar manufacturing. The company will invest approximately ₹7,800 crore to establish 12 GW each of ingot and wafer manufacturing capacity at the Orvakal Industrial Area in Kurnool, Andhra Pradesh.
This expansion is set to complement Agastya Energy's existing solar cell and module manufacturing capabilities, thereby strengthening India's domestic solar manufacturing sector and increasing value addition within the country. The project is expected to create over 3,500 employment opportunities and aligns with India's 'Make in India' and 'Atmanirbhar Bharat' initiatives.
Anubhav Agarwal, Chairman of Anubhav Agarwal Group (AAG), highlighted the investment as a reflection of their long-term conviction in India's energy transition and commitment to building globally competitive manufacturing at scale. He also expressed gratitude to the Government of Andhra Pradesh for their support.
Piyush Bichhoriya, Director at Agastya Energy, emphasized that the move into ingot and wafer manufacturing is a critical upstream pillar for their integrated solar manufacturing strategy, complementing their existing capabilities and strengthening their end-to-end PV value chain. Bernhard Rack, CEO of Agastya Energy, noted that the expansion will enhance their capabilities across ingots, wafers, cells, and modules, positioning India as a leading hub for clean energy manufacturing.
The integrated facility will bring together ingot, wafer, cell, and module manufacturing, enhancing domestic value addition and manufacturing efficiency. This development aligns with the Ministry of New and Renewable Energy's efforts to strengthen the solar PV module, cell, and wafer ecosystem in India.
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Sanginita Chemicals Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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