RJ Corp forays into green energy via ₹1,743 crore Andhra Pradesh unit

Ravi Jaipuria-led RJ Corp will invest Rs 1,743 crore in a 2 GW solar cell and module facility in Naidupeta, boosting Andhra Pradesh's fast-growing clean-tech ecosystem

Voltsun Labs, part of the Ravi Jaipuria-led RJ Corp, will foray into the green energy sector through a ₹1,743-crore greenfield solar cell and module manufacturing facility at Naidupeta in Tirupati district of Andhra Pradesh.

 

RJ Corp, the world's largest PepsiCo bottling partner, operates quick service restaurant (QSR) brands such as KFC, Pizza Hut, and Costa Coffee through franchisee networks. It also runs dairy operations under the Jersey brand.

 

The state government said on Monday that the unit will be coming up at Naidupeta MPSEZ. It has already cleared a proposal to allot 37 acres at concessional rates to enable rapid project commencement. The state is aiming to become India’s most preferred destination for high-value, next-generation manufacturing.

 

RJ Corp is one of India’s diversified business groups with an estimated valuation of over ₹90,000 crore. It is into sectors like food processing, education, healthcare, hospitality, and real estate.

 

The group’s decision to enter advanced solar manufacturing in Andhra Pradesh reflects trust in the state’s governance, policies, and “speed of doing business,” a company statement said.

 

The Voltsun project will create an integrated 2 gigawatt (Gw) solar manufacturing ecosystem, developed in two phases — each comprising 1 Gw of solar cell capacity and 1 Gw of module capacity. It would use cutting-edge TOPCon monocrystalline and bifacial technologies.

 

The investment will generate 415 direct jobs, and the state government will facilitate external infrastructure.

 

This includes a 40 Mw power load, 3 million litres per day (MLD) water supply, and support for a captive solar plant.

 

Tailor-made incentives, under the AP Industrial Development Policy 2024–29, have been approved by the State Investment Promotion Board (SIPB) to ensure seamless project execution.

 

This comes days after the state bagged investments to the tune of around ₹13.25 trillion during a three-day CII Partnership Summit in Visakhapatnam.

 

Of this, around ₹5.33 trillion was contributed by the renewable energy sector.

 

This includes big-ticket investments like $12 billion plans by Brookfield-backed Evren, a clean energy platform that the global major runs in India through a joint venture with Axis Energy. And, also a fresh $6.7 billion roadmap by ReNew Energy Global Plc (ReNew) in addition to the $2.6 billion it had already committed.

 

AM Green Group also signed a deal to set up multiple 2G bio-refineries to produce cost-effective green hydrocarbons and 180 kilo tonnes per annum (KTPA) of sustainable aviation fuel with an investment of ₹10,000 crore ($1.13 billion).

 

“The entry of a global-scale conglomerate like RJ Corp into the solar manufacturing space marks a significant step in Andhra Pradesh’s rise as India’s renewable energy powerhouse. With this investment, the state strengthens its fast-growing clean-tech cluster that already includes solar module manufacturers, pumped-storage developers, and green hydrogen ecosystem players,” RJ Corp said.

 

The government has directed Andhra Pradesh Industrial Infrastructure Corporation (APIIC), the industries department, and all line departments to fast-track approvals and ensure timely grounding through the Single Desk Portal 2.0. This would reinforce the state’s reputation as the country’s most investor-friendly destination, it added.