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Nagpur: Waaree Energies Limited (WEL), the country’s largest solar PV module manufacturer, is scouting for 500 acres of land in Nagpur for a proposed Rs8,000 crore investment in a solar cell and panel manufacturing unit. If finalized, this would mark another major boost for the city’s emerging status as a hub for renewable energy equipment manufacturing.
WEL representatives recently visited the Additional Butibori industrial estate of Maharashtra Industrial Development Corporation (MIDC) to inspect potential sites. Though the company has not submitted a final proposal, the state government is optimistic about securing this significant investment, sources familiar with the development said.
With WEL’s entry, the total proposed investments in renewable energy equipment manufacturing in Nagpur are estimated at Rs 41,000 crore. This includes projects by Avaada Group and JSW Group, among others, positioning Nagpur as a preferred destination for solar cell and panel manufacturing.
Avaada Group has already started constructing its plant at the Additional Butibori estate, with operations expected to commence by March. The company plans to invest Rs13,650 crore in a wafer-to-module manufacturing facility, with an initial capacity of 6GW for solar cells and 5GW for modules.
JSW Group has also expressed interest in acquiring close to 550 acres of land in Nagpur. It plans to establish a lithium-ion battery manufacturing unit in the first phase, with an investment of Rs12,000 crore. Meanwhile, another Mumbai-based company is reportedly considering an investment of Rs 8,000 crore in the region, according to sources.
The surge in interest from renewable energy companies is partly attributed to the anticipation of US President Donald Trump returning to power. It is expected that Trump’s administration would reduce the US’ reliance on China for renewable energy products, creating opportunities for Indian manufacturers to expand their footprint in the American market.
Several Indian companies in the renewable energy sector already export to the US, where Indian-made solar panels have gained a competitive edge, sources in the industry said.
The investments are expected to provide a significant boost to the local economy, particularly for Micro, Small, and Medium Enterprises (MSMEs). “Nagpur is emerging as a preferred destination for solar panel and module manufacturers. This is likely to attract ancillary industries, benefiting the MSME sector,” said Julfesh Shah, Chairman of the Chamber of Small Industries Association (COSIA).
With multiple players eyeing Nagpur for large-scale projects, the city is set to solidify its position as a renewable energy manufacturing hub in the coming years.
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