Akshat Greentech to invest ₹1,600 crore in 3.5 GW solar cell manufacturing plant in Andhra Pradesh

Akshat Greentech Private Limited, a group company of Mytrah Energy, is set to invest ₹1,600 crore to establish a 3.5 GW solar cell manufacturing facility at Parawada Industrial Park in Anakapalle district of Andhra Pradesh. The project marks another significant investment in India’s rapidly expanding renewable energy manufacturing sector and is expected to strengthen the country’s domestic solar supply chain.

The Andhra Pradesh government has approved the allotment of 34.02 acres of land to the company at Parawada Industrial Park, located about 40 km from Visakhapatnam. The approval follows recommendations made by the State Investment Promotion Board as part of the state’s efforts to attract large-scale manufacturing investments in clean energy and advanced industries.

According to the approved proposal, the solar cell manufacturing plant is expected to begin commercial production by March 2029. Once operational, the facility is projected to generate employment for around 750 people, providing a boost to industrial activity and skilled job creation in the region.

The upcoming plant will play a key role in supporting India’s growing demand for domestically manufactured solar components as the country accelerates renewable energy deployment. Increasing local production of solar cells is considered crucial for reducing dependence on imports while strengthening the government’s Make in India initiative and long-term energy security objectives.

The project will also require significant infrastructure support. The manufacturing unit is expected to consume around five million litres of water per day and nearly 300 million units of electricity annually, reflecting the scale of the proposed facility. Authorities have also taken buffer zone regulations into account due to the site’s proximity to Jawaharlal Nehru Pharma City.

Alongside the industrial development, the Andhra Pradesh government has directed APIIC to establish a Flatted Factory Complex for MSMEs within the industrial park and identify additional land for a larger MSME cluster, ensuring that small and medium enterprises also benefit from the region’s industrial expansion.

The investment further strengthens Andhra Pradesh’s position as an emerging destination for renewable energy manufacturing, while reinforcing India’s ambition to build a globally competitive clean energy supply chain through large-scale domestic production of solar equipment.