Waaree Energies has broken ground on a 10 GW integrated solar ingot and wafer manufacturing facility in Nagpur, Maharashtra.

The facility, with an investment of approximately ₹62 billion (~$671.60 million), will house 10 GW capacity each for solar ingots and wafers.

The Nagpur facility is part of Waaree’s broader transition from a solar manufacturer to a fully integrated renewable energy company covering multiple segments across the clean energy value chain.

The company describes this transition as moving from “Waaree 1.0” to “Waaree 2.0”, under which it plans to expand into energy storage, hydrogen, and power infrastructure alongside solar manufacturing.

Waaree has around 23 GW of solar module manufacturing capacity and 5.4 GW of solar cell capacity, with module sales of 3.6 GW recorded in a recent quarter. The company plans to increase module capacity to 28.4 GW and solar cell capacity to 15.4 GW by the financial year (FY) 2027. It has also established a 1.6 GW solar module manufacturing facility in the United States.

The company has also made a strategic investment in a 100,000-ton-per-annum polysilicon plant in Oman and is building integrated solar manufacturing facilities with capacities ranging from 6 GW to 10 GW

Waaree is expanding into battery energy storage systems with a planned manufacturing capacity of 20 GWh. Phase one will establish 3.5 GWh capacity by FY 2027, followed by an additional 16.5 GWh by FY 2028, with total capital expenditure estimated at ₹100 billion (~$1.08 billion) and equity funding of about ₹10 billion (~$108.32 million).

The company is also planning to set up a 1 GW of electrolyzer manufacturing capacity by FY 2027, investing ₹6.76 billion (~$73.23 million). The project has received production-linked incentive support for 300 MW of electrolyzer manufacturing and a hydrogen production capacity of 90,000 tons yearly.

Recently, Waaree Energies received an order to supply 500 MW of solar modules from a domestic independent power producer.

In the same month, the company announced plans to set up a 16 GWh integrated lithium-ion battery manufacturing plant in Rambili, Anakapalli, Andhra Pradesh, with an investment of ₹81.75 billion (~$901.26 million).