RJ Corp’s Voltsun to invest Rs 1,700 cr to manufacture solar components in Andhra Pradesh

Andhra Pradesh CM N Chandrababu Naidu

Voltsun Labs Private Ltd, part of the Ravi Jaipuria–led RJ Corp, will establish a Rs 1,743 crore greenfield solar cell and module manufacturing facility in Naidupeta multi-product special economic zone (SEZ) of Andhra Pradesh, the N Chandrababu Naidu-led state government announced on November 17.

The announcement comes as part of a growing wave of big-ticket investments that the state has been attracting across sectors, underscoring the state’s renewed push to position itself as a manufacturing and clean-energy hub.

The solar cell and module manufacturing project is expected to generate employment to at least 415 persons, according to documents seen by Moneycontrol. The Andhra Pradesh government will be allotting 37 acres of land at concessional rates to ensure the project starts one time, a state government official said.

RJ Corp, led by industrialist Ravi Jaipuria, is a diversified conglomerate with interests spanning beverages, dairy, quick-service restaurants, healthcare and education, and has in recent years stepped up investments in emerging sectors such as renewable energy through ventures like Voltsun.

With fresh capacity coming up in state, the investment supports the Centre’s drive to localise the clean-energy supply chain, enhance energy security and strengthen the country’s ability to meet its ambitious renewable energy targets. It also adds momentum to India’s broader industrial policy aimed at promoting high-tech manufacturing, creating jobs and boosting exports in the fast-growing global solar market.

During the recent CII partnership summit in November, Andhra Pradesh secured Rs 5.2 lakh crore in energy sector investment pledges with commitments from companies such as ReNew Energy, Brookfield renewables, Reliance, Hero Future Energies.

Andhra Pradesh has been steadily attracting global investors, helped by its large industrial land banks, strong port connectivity and investor-friendly policies. The AP government is promoting clean energy through its integrated Clean Energy Policy which offers capital subsidies, tax benefits and infrastructure support.

Over the past few years, companies such as Kia Motors in Anantapur, PepsiCo and Coca-Cola–linked bottling investments, energy majors like ONGC and GAIL, electronics manufacturers working with Foxconn and TCL, and global tech firms including Google have either set up or announced expanded operations in the state.

Varun Beverages, RJ Corp’s flagship company, too had recently amended its Memorandum of Association to include generation and supply of renewable energy as a business activity. The company is seeking shareholder approval and the amendment will allow Varun Beverages to generate and supply various forms of renewable energy (solar, wind etc.) both in India and abroad.