The $1 billion investment remains unchanged; Waaree flexibly adjusts its photovoltaic portfolio and accelerates capacity expansion.

Although the project site has been adjusted, the total project cost has only slightly changed to ₹90.49587 billion (approximately $1 billion). Clarification: The 6 GW integrated photovoltaic manufacturing project in Odisha has not been abandoned. Subsequently, on June 21, 2025, Waaree Energies issued a clarification stating that the company has not abandoned its strategic layout in Odisha; the project contract has been formally awarded and is being executed as planned. Amit Paithankar, CEO and Whole-Time Director of Waaree Energies, emphasized: “The company continues to hold strong confidence in Odisha’s tremendous development potential and sincerely thanks the Odisha government for its proactive support. Odisha occupies a pivotal strategic position in Waaree Energy’s long-term business planning. The current strategic adjustments reflect the company’s operational flexibility and its ongoing commitment to achieving sustainable growth—throughout this process, Odisha remains an indispensable component of the company’s future plans.” It is reported that Waaree Energies received a subsidy of ₹19.23 billion (approximately $221.6 million) under the Indian government’s second round of the Production-Linked Incentive (PLI) scheme for high-efficiency solar modules, to build a 6 GW integrated facility covering silicon ingots/wafers, cells, and modules. According to the IPO prospectus disclosed on October 23, 2024, this project is planned for construction in Odisha. Dual India–U.S. manufacturing footprint: 5.4 GW of cell capacity and 14.9 GW of module capacity already built. Founded in 1989 and headquartered in Mumbai, India, Waaree went public on October 28, 2024. It operates manufacturing facilities in both India and the United States, currently possessing 14.9 GW of solar PV module production capacity—making it India’s largest solar PV module manufacturer. Its module product portfolio includes N-type TOPCon and HJT modules, P-type monocrystalline PERC modules, BIPV, flexible modules, and multicrystalline modules. In addition to the module capacities shown above, Waaree Energies’ 5.4 GW solar cell ‘super-factory’ in Chikhli, Gujarat, has officially commenced operations. Phase I primarily comprises a 1.4 GW monocrystalline PERC cell production line, featuring three PERC solar cell production lines, each with an annual capacity of 467 MW and a daily output of 448,800 PERC cells; the maximum cell size supported is 210 mm × 210 mm. Phase II will be a 4 GW high-efficiency TOPCon cell production line targeting a mass-production efficiency of over 27%. Meanwhile, Waaree also operates factories in the United States. It currently owns a 1.6 GW module factory in Brookshire, Texas, and in April 2025 proposed expanding this facility to 3.2 GW. Per earlier targets, module production capacity at this site is expected to reach 3 GW by FY 2025–2026 and 5 GW by FY 2026–2027. Waaree also plans to establish a 5 GW photovoltaic cell manufacturing facility before FY 2026–2027, depending on market conditions, to supply raw materials for its module production.

India plans to build a 1-gigawatt AI data center: up to $7.4 billion investment; the real barrier goes beyond simply purchasing GPUs.

On September 5, TCS announced that its subsidiary HyperVault had acquired 264 acres of land in Hyderabad, Telangana, India, to develop—phased over time—a 1-gigawatt AI data center campus. Reuters reported that HyperVault and its partners plan to invest up to ₹700 billion, equivalent to approximately $7.41 billion at the exchange rate cited in the report. The phrase “up to 1 gigawatt” refers to the planned power and computing infrastructure capacity of the entire campus—not to any already-completed capacity. The project will proceed in phases, contingent upon customer demand, financing, power supply availability, and equipment delivery timelines. Likewise, the ₹700 billion figure represents the upper limit of planned investment—not funds already disbursed for construction. What does one gigawatt mean? If operating at full load, the campus would consume electricity at a rate comparable to the output of a large power-generation unit. Beyond GPU servers, the project requires substations and transformers, high-speed networking infrastructure, backup power systems, liquid cooling or other thermal management solutions, and a continuous, stable supply of both water and energy. While land can be secured all at once, transmission lines, substations, and data center buildings typically take several years to construct. HyperVault targets cutting-edge AI companies, hyperscale cloud service providers, and global enterprises as its primary customers, aiming to host high-density GPU clusters for AI model training and inference. This also implies confronting the challenge of rapid chip obsolescence: while data center buildings may remain in service for two to three decades, GPU platforms typically evolve every few years.

India's Waaree Bets on US Solar Boom, Expands Local Sourcing on Data-Centre Growth

23 hours ago

Waaree Energies plans to expand US manufacturing capacity to 4.8 GW and localize cell sourcing by 2027, capitalizing on robust data center demand and navigating new U.S. import rules.

reuters

2026-10-28

India's Waaree Bets on US Solar Boom, Expands Local Sourcing on Data-Centre Growth

India's Waaree Bets on US Solar Boom, Expands Local Sourcing on Data-Centre Growth

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