Avaada Group plans 6 GW PV cell manufacturing plant in Nagpur
Avaada Group, an India-based renewable energy firm, is set to begin solar cell manufacturing at its Nagpur facility next month. The 6 GW plant will be India’s largest solar cell manufacturing unit, with no current player exceeding 4 GW. Avaada Electro, which operates the Nagpur unit, is also preparing for an IPO after private equity investments of INR 10,500 crore (~$105 crore) and debt from global institutions. The Nagpur facility has a planned investment of INR 13,500 crore (~$135 crore), with around INR 5,000 crore (~$50 crore) already deployed. It already includes 7 GW of solar module manufacturing capacity and currently uses imported cells. By December, Avaada expects the unit to handle production from ingot manufacturing to finished modules. The company also plans to integrate polysilicon, ingots, wafers, cells, and modules progressively, along with solar glass manufacturing from sand.
