Waaree Energies (WEL), India’s largest solar photovoltaic (PV) module manufacturer, is considering an investment of Rs 80 billion to set up a solar cell and panel manufacturing facility in Nagpur. The company is in the process of evaluating 500 acres of land at the Maharashtra Industrial Development Corporation’s (MIDC) Additional Butibori industrial estate. Although no formal proposal has been submitted yet, the Maharashtra state government is optimistic about the investment, which is poised to further strengthen Nagpur’s growing role as a hub for renewable energy manufacturing.
This potential project adds to a wave of investments flowing into Nagpur’s renewable energy sector. Other companies, such as Avaada Group and JSW Group, are also setting up manufacturing facilities in the region. Avaada is building a wafer-to-module manufacturing plant in the Additional Butibori estate, with an investment of Rs 136.50 billion. Similarly, JSW plans a Rs 120 billion lithium-ion battery plant on 550 acres of land in the area. Together, these ventures could bring an estimated Rs 410 billion worth of investments to Nagpur, positioning the city as a key destination for solar and renewable energy manufacturing.
The growing interest in Nagpur can be attributed in part to the potential shift in the U.S. energy market, which may reduce its reliance on China for renewable energy products. Indian manufacturers, including Waaree Energies, are positioning themselves to take advantage of this opportunity, already gaining a competitive edge in the U.S. market with their high-quality solar panels. This influx of investment is expected to boost Nagpur’s local economy, creating jobs and supporting the growth of Micro, Small, and Medium Enterprises (MSMEs) in the region.
