Gurugram-based green energy developer ReNew, backed by the Abu Dhabi Investment Authority (Adia) and Abu Dhabi’s Masdar, will invest INR 39.9 bn (USD 480 mn) to set up a 6 GW solar ingot-wafer manufacturing plant in Andhra Pradesh (AP), Hindu Businessline reports.

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India’s first: The facility will be the country’s first commercial-scale integrated ingot-wafer manufacturing unit, producing core building blocks used in solar cells and modules. The project will be executed through ReNew Photovoltaics, a subsidiary of Nasdaq-listed ReNew Energy Global, one of India’s largest renewable power producers.

Approval process: The investment proposal was approved by the Andhra Pradesh State Investment Promotion Board chaired by Chief Minister N Chandrababu Naidu. The facility is backed by the government’s production-linked incentive scheme for solar manufacturing that aims to reduce import reliance while supporting India’s 300 GW solar energy goal for 2030.

Project timeline + capacity: The project is expected to be completed by March 2026, with commercial production beginning by January 2028.

BACKGROUND- A consortium of investors including Masdar, Adia, and Canada Pension Plan Investment Board are planning to take Nasdaq-listed ReNew private and have filed an application with the US Securities and Exchange Commission

IN CONTEXT- AP signed 35 MoUs worth a combined INR 3.65 tn (USD 43.8 bn) in investment pledges at last month’s Confederation of Indian Industry Partnership Summit in Visakhapatnam, with the energy sector accounting for INR 2.65 tn (USD 31.8 bn) of the commitments. ReNew announced INR 600 bn (USD 7.2 bn) in new renewable-energy projects, taking its total commitments in AP to INR 820 bn (USD 9.8 bn). The momentum reinforces AP’s push to become a major clean-energy and manufacturing hub under its investment pipeline strategy.

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