Agastya Green Energy, a renewable energy solutions provider, will invest approximately ₹78 billion (~$816.48 million) to establish 12 GW each of solar ingot and wafer manufacturing capacity in Andhra Pradesh.

Agastya Green Energy is the green arm of edible oil manufacturer BN Group.

The facility will be located at the Orvakal Industrial Area in Kurnool. The expansion into ingot and wafer manufacturing will integrate these upstream operations with the company’s cell and module manufacturing capabilities.

Piyush Bichhoriya, Director of Agastya Energy, said the ingot and wafer expansion would strengthen the company’s presence across the solar ecosystem and create synergies across manufacturing, independent power producers and the engineering, procurement and construction segment.

In tandem with the Approved List of Models and Manufacturers (ALMM) for modules and cells, the government has proposed mandating the use of India-made ingots and wafers under a similar framework, starting June 1, 2028.

All projects falling under ALMM’s purview must mandatorily source their modules from ALMM List-I. Such modules must also use solar cells from the ALMM List-II for solar cells. The cells, in turn, must use wafers from ALMM List-III.

The government’s move to extend the ALMM framework to solar wafers marks a major step toward building a fully integrated domestic solar manufacturing ecosystem, but industry stakeholders warn that a sharp gap in upstream capacity and a tight compliance window could disrupt supply chains and bidding behavior.

The framework’s eligibility criteria also highlight their potential impact on market participation. The initial wafer list will be issued only if it includes at least three independent manufacturers with a combined capacity of 15 GW, and each manufacturer must also have possessed ingot manufacturing capacity equivalent to the wafer capacity it seeks to list.

In May 2026, Agastya Green Energy was one of the winners of Uttar Pradesh Power Corporation’s 1.5 GWh standalone energy storage auction.