Bhubaneswar: Waaree Energies Limited has reaffirmed its commitment to its ambitious solar panel manufacturing project in Dhenkanal district, emphasizing that construction activities are well underway and vendor contracts have already been awarded.
In a formal communication to Hemant Sharma, Principal Secretary of the Industries Department, the company reiterated its plans to invest Rs 25,000 crore in the state—a project expected to generate over 14,000 employment opportunities.
While updating on the ongoing groundwork, the company also highlighted the critical importance of timely power availability at the project site, calling it a key factor for meeting construction and commissioning timelines. Waaree noted that any delay in securing electricity infrastructure could cause significant disruptions to the overall execution.
“As you are aware, construction activities at the site are actively ongoing, and contracts for the facility have been duly awarded to respective vendors and are being executed as planned. However, as you know, power availability is critical for the execution of the project within the timelines communicated to the project proponents, and any delay in securing such power shall cause irreparable difficulties for all stakeholders involved,” the notification read.
The development comes in the wake of a strategic decision by the company’s Board on June 20, 2025, to realign certain components of its 6 GW integrated solar manufacturing capacity across multiple locations. This move, the company said, is aimed at accelerating project momentum, ensuring alignment with IPO objectives, and meeting PLI (Production Linked Incentive) deadlines.
Despite this broader strategic reshuffling, Waaree underlined that Odisha continues to play a vital role in its long-term business roadmap.
“We shall continue undertaking activities on the ground for the project and will proactively engage with your esteemed office and other offices of the Odisha Government for any support we may need,” the company said in a letter signed by CEO and Whole-Time Director Amit Paithankar.
