Waaree Energies Shifts 6-GW Solar Project From Odisha Due To Delays

Waaree Energies Ltd. on Friday said it will relocate its planned 6-gigawatt solar ingot wafers, cells and modules project from Dhenkanal in Odisha due to execution delays. The company has secured board approval to move the project to multiple new sites across Gujarat, Maharashtra, Tamil Nadu, or other locations, it said in an exchange filing.

The revised plan will see a 3-GW module facility set up in Samakhiali, Gujarat, with the remaining 3 GW capacity spread between Gujarat, Tamil Nadu, or other potential sites. The 6-GW solar cells unit will now come up at Unn in Gujarat, while the 6-GW ingots and wafers facility will be based in Nagpur, Maharashtra.

The company said the total project cost remains largely unchanged at ₹90.5 billion. However, land acquisition costs have risen to ₹4.6 billion from ₹1.4 billion, and civil works costs have increased to ₹14.6 billion from ₹10.9 billion. These will be partly offset by lower machinery costs, now estimated at ₹36.8 billion compared to the earlier ₹44.2 billion.