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					</table><p>Solar module manufacturer <a href="https://waaree.com/" target="_blank" rel="noopener">Waaree Energies</a> has announced a strategic realignment of certain components of its integrated 6 GW module, cell, ingot, and wafer manufacturing facility, citing execution delays.</p>
<p>It, however, clarified that the company is not shelving its solar manufacturing project in Odisha.</p>
<p>“We want to emphasize that we are not moving away from Odisha. Construction activities are actively ongoing, and contracts for the Odisha facility have been duly awarded and are being executed as planned. Our commitment to Odisha remains strong,” said Amit Paithankar, CEO and Wholetime Director, Waaree Energies.</p>
<p>In an earlier BSE filing, Waaree said the company’s board had approved a change in the location for implementing the 6 GW capacity ingot-wafers, solar cells, and module manufacturing facility to utilize the proceeds from the initial public offering (IPO) and expedite the project.</p>
<p>The new locations include facilities for 3 GW modules at Samakhiali, Gujarat; 3 GW modules in Gujarat, Tamil Nadu, or any other location; 6 GW cells at Unn, Gujarat; and 6 GW ingots and wafers at Nagpur, Maharashtra.</p>
<p>The company also revised the project cost slightly to ₹90,499.59 million (~$1 billion).</p>
<p>The ₹43.21 billion (~$513.95 million) IPO in October 2024 had <a href="https://www.mercomindia.com/waaree-energies-ipo-oversubscribed-76-times" target="_blank" rel="noopener">generated</a> strong interest from both institutional and retail investors. At the end of the bidding window, the issue was oversubscribed 76 times. Qualified institutional buyers led the demand, with a subscription rate of 208.63 times, followed by non-institutional investors at 62.37 times. The retail investor portion was subscribed 10.61 times.</p>
<p>Waaree Energies has a solar module manufacturing capacity of 13.3 GW and a cell manufacturing capacity of 5.4 GW.</p>
<p>In May, the company <a href="https://www.mercomindia.com/waaree-sets-eye-on-the-booming-power-transformers-manufacturing-industry" target="_blank" rel="noopener">announced</a> it would acquire transformer manufacturer Kamath Transformers and independent power producer Green New Delhi Forever Energy at a cumulative cost of over ₹2.93 billion (~$34.25 million).</p>
<p>Last year, Waaree <a href="https://www.mercomindia.com/waaree-energy-to-set-up-300-mw-electrolyzeser-and-3-5-gwh-lithium-ion-cell-manufacturing-projects-project" target="_blank" rel="noopener">announced</a> it would establish a 300 MW electrolyzer and a 3.5 GWh lithium-ion Advanced Chemistry Storage Cell manufacturing plant under the Ministry of New and Renewable Energy’s Production-Linked Incentive program.</p>


Waaree Realigns Solar Manufacturing Plans, Confirms Odisha Project on Track


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					</table><p>Gujarat-based <a href="https://involtenergy.com/" target="_blank" rel="noopener">Involt Energy</a> has commenced construction of its first solar cell manufacturing plant in Rajkot with an initial capacity of 1.78 GW.</p>
<p>The facility is expected to be commissioned by June 2026.</p>
<p>The company noted that the fully automated, guided vehicle-based facility will utilize the latest TOPCon (Tunnel Oxide Passivated Contact) technology. The 182mm*210mm G12R TOPCon cells will have an efficiency of 25.3% to 25.4% with a maximum power output of 9.5 W &#8211; 9.7 W.</p>
<p>Involt intends to expand its manufacturing capacity with an additional 3 GW of solar cell production and 3 GW of wafer manufacturing, aiming to meet the growing demand for renewable energy components in India.</p>
<p>“India’s renewable energy market is expanding rapidly, and advanced technologies like TOPCon will enable us to manufacture world-class solar cells locally, reducing import dependence and enhancing energy security,” said Darshit Bhoraniya, Managing Director of Involt Energy.</p>
<p>The Ministry of New and Renewable Energy (MNRE) recently <a href="https://www.mercomindia.com/government-tightens-solar-manufacturing-norms/" target="_blank" rel="noopener">mandated</a> that only solar cells manufactured using undiffused wafers will qualify under the Domestic Content Requirement policy, effectively prohibiting the use of “blue” or diffused wafers. This is to ensure that the most critical stages of solar cell manufacturing, such as diffusion, printing, and metallization, are carried out entirely in India to strengthen the domestic solar industry.</p>
<p>India added 25.3 GW of solar module capacity and 11.6 GW of solar cell capacity in calendar year 2024, according to Mercom’s <a href="https://www.mercomindia.com/product/state-solar-manufacturing-india-2025" target="_blank" rel="noopener">State of Solar PV Manufacturing in India 2025</a> report. The manufacturing capacity additions in 2024 were primarily driven by demand from the solar project pipeline and the reimposition of the Approved List of Models and Manufacturers (ALMM) order from April 2024.</p>
<p>MNRE <a href="https://www.mercomindia.com/product/state-solar-manufacturing-india-2025" target="_blank" rel="noopener">issued</a> a draft in September 2024 to include solar cells in ALMM to address the growing domestic production capacity. Projects mandated to use ALMM-enlisted modules (List-I) must <a href="https://www.mercomindia.com/product/state-solar-manufacturing-india-2025" target="_blank" rel="noopener">ensure</a> these modules are manufactured using cells from List-II, effective June 1, 2026.</p>


Involt Energy Breaks Ground on 1.78 GW Solar Cell Facility In Gujarat


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					</table><p>Germany-headquartered solar modules and energy storage solutions company <a href="https://axitecsolar.com/en" target="_blank" rel="noopener">AXITEC</a> has launched a 300 MW module manufacturing plant in Tiruvallur, Tamil Nadu.</p>
<p>The facility is designed to manufacture solar modules using the N-type TopCon technology in the Domestic Content Requirement (DC) and non-DCR categories.</p>
<p>The company said the plant&#8217;s strategic location on the outskirts of Tiruvallur supports effective production and allows for improved control over the supply chain, ensuring the timely delivery of products.</p>
<p>The facility is already operational, with plans to double its manufacturing capacity shortly. This expansion is part of AXITEC&#8217;s ongoing efforts to meet growing market demands and enhance its ability to deliver high-quality solar solutions swiftly.</p>
<p>The plant is also in the process of getting its products included in the Approved List of Models and Manufacturers for solar modules to comply with national standards for government-supported projects.</p>
<p>AXITEC Energy India CEO Tanmoy Duari said, &#8220;The inauguration of our new manufacturing plant in Tiruvallur marks a pivotal moment in AXITEC&#8217;s journey towards advancing solar energy solutions in India and beyond. This facility embodies our commitment to quality, innovation, and sustainability. By leveraging cutting-edge N-type TopCon technology, we are not only enhancing the efficiency and performance of our solar modules but also contributing to the local economy through job creation.&#8221;</p>
<p>India added 20.8 GW of solar modules and 3.2 GW of solar cell manufacturing in 2023, according to the <a href="https://www.mercomindia.com/product/state-solar-manufacturing-india-2024" target="_blank" rel="noopener">State of Solar PV Manufacturing in India 2024</a> Report by Mercom India Research. The cumulative solar module manufacturing capacity reached 64.5 GW, and solar cell manufacturing capacity reached 5.8 GW as of December 2023. Capacity additions in 2023 were primarily driven by domestic demand and export opportunities.</p>
<p>In January, U.S.-based First Solar <a href="https://www.mercomindia.com/first-solar-module-manufacturing-facility-in-tamil-nadu" target="_blank" rel="noopener">inaugurated</a> its fully vertically integrated solar manufacturing facility in Tamil Nadu with an annual nameplate capacity of 3.3 GW.</p>


Germany-based AXITEC Opens 300 MW Solar Module Plant in Tamil Nadu

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