Akshat Greentech to Set Up ₹1,600 Crore, 3.5 GW Solar Cell Manufacturing Unit at Parawada, Near Visakhapatnam
Akshat Greentech Private Limited, a group company of Mytrah Energy, will set up a 3.5 GW solar cell manufacturing unit at Parawada Industrial Park in Anakapalle district, about 40 km from Visakhapatnam, with an investment of ₹1,600 crore. The Andhra Pradesh government has approved allotment of 34.02 acres of land in the industrial park to the company at a concessional rate of ₹65 lakh per acre, following a recommendation from the State Investment Promotion Board.
The project is expected to generate employment for around 750 people and is scheduled to begin commercial production by March 2029. Once operational, the facility will require 5 million litres per day of water and an estimated 300 million units of power annually, drawing 70 MVA at 132 kV.
Because the proposed site lies close to Jawaharlal Nehru Pharma City (JNPC), the government has factored in applicable buffer-zone restrictions. As part of the land allocation in Parawada Industrial Park Phase II, 1.20 acres has been set aside for a Flatted Factory Complex for MSME units, out of 36.06 acres otherwise available for allotment. The state has directed APIIC to construct this Flatted Factory Complex and identify additional nearby land to develop a larger MSME park.
The Parawada project adds to a broader clean-energy manufacturing push by Akshat Greentech, which has separately signed MoUs with the Telangana government for two solar cell and module manufacturing plants of 6.9 GW capacity each, representing a combined investment of ₹7,000 crore in that state.