Jayaswal Neco Industries to invest Rs 40.97 crore in solar captive power with Waaree Group
Jayaswal Neco Industries is planning a Rs 40.97 crore investment in a captive solar power project to be developed in association with Waaree Group, as reported on 25 October 2026. The move marks an addition to the steel and power company's existing portfolio of large capital projects across central and western India.
| Detail | Information |
|---|---|
| Promoter | Jayaswal Neco Industries |
| Partner | Waaree Group |
| Project Type | Captive Solar Power |
| Investment Value | Rs 40.97 crore |
| Sub-sector | Captive Power |
Jayaswal Neco Industries' existing project footprint
Projects India tracks several significant projects already associated with Jayaswal Neco Industries. These include an Integrated Steel Plant Project and Captive Power Plant Projects at Gadchiroli, Maharashtra, each recorded at Rs 12,262 crore, as well as an Integrated Steel Plant Project at Dagori Village, Bilaspur, Chhattisgarh, for which a value has not been recorded. The planned Rs 40.97 crore solar captive investment therefore represents a relatively smaller, targeted addition to the group's broader capital programme.
Waaree Group is a recognised name in India's solar manufacturing and project development space, making it a notable partner for an industrial captive solar initiative of this nature.
Captive power sector context: scale and pipeline across India
Projects India tracks 2,447 live captive power projects across the country, with 26 added in the last 90 days alone. This signals a consistently active pipeline for suppliers and equipment makers operating in the segment.
The stage breakdown of tracked projects in this sub-sector reveals where the market currently stands. Of the 2,447 projects tracked, 1,052 are Under Approvals — the largest single cohort — indicating a substantial volume of potential work that has not yet moved to construction. A further 280 projects have reached Construction Started stage, while 490 are recorded as Completed. Some 283 projects are on Hold and 82 have been Cancelled, providing a realistic picture of attrition across the pipeline. Only 155 projects have reached Approvals Received stage without yet beginning construction.
This distribution suggests that suppliers who engage projects early — at the Under Approvals stage — stand to benefit most, given the large number of projects still awaiting clearances before procurement can begin.
Geographic concentration of captive power activity
The geographic spread of tracked captive power projects points to clear regional hotspots. Maharashtra leads with 407 tracked projects, followed by Karnataka at 301 and Chhattisgarh at 300. Uttar Pradesh accounts for 201 projects, with Andhra Pradesh and Odisha recording 153 and 145 respectively. Jayaswal Neco Industries' existing projects in Maharashtra and Chhattisgarh place the group squarely within two of the most active states for captive power development.
Recent additions to the tracked pipeline include projects in Rajasthan, Telangana, Punjab, Jharkhand, Maharashtra, Himachal Pradesh, Uttar Pradesh and Gujarat — evidence that captive power investment is geographically distributed, even if the heaviest concentration remains in a handful of industrial states. For a full view of activity in the power projects sector, the Projects India sector overview provides a consolidated reference.
What this means for suppliers and contractors
The planned Jayaswal Neco Industries solar captive project, at Rs 40.97 crore, is a modest-scale investment relative to the group's other capital commitments. However, it is relevant to solar equipment suppliers, EPC contractors and electrical infrastructure providers looking to associate with an established industrial promoter and a recognised solar group in Waaree.
The broader captive power pipeline — with over 1,000 projects currently Under Approvals and a further 280 at Construction Started — represents a substantial forward order book for the sector. Suppliers active in solar equipment, balance-of-plant works and grid interconnection should monitor this pipeline closely, particularly in Maharashtra, Karnataka and Chhattisgarh where project density is highest.
For companies tracking related commissioning activity in the solar captive segment, Projects India has also covered recent solar captive commissionings in Tamil Nadu and Jindal Stainless's acquisition of a stake in a wind-solar hybrid captive project, illustrating the variety of structures through which industrial groups are now pursuing captive renewable power.
Frequently asked questions
How much is Jayaswal Neco Industries investing in the solar captive power project?
Jayaswal Neco Industries is planning an investment of Rs 40.97 crore in a captive solar power project to be developed in association with Waaree Group, as reported on 25 October 2026. No further details on location or capacity were available at the time of reporting.
Who is the partner in Jayaswal Neco Industries' solar power project?
Waaree Group is named as the partner in Jayaswal Neco Industries' planned Rs 40.97 crore captive solar power project. Waaree Group is an established name in India's solar manufacturing and project development industry.
How many captive power projects are currently tracked in India?
Projects India tracks 2,447 live captive power projects across India, with 26 added in the last 90 days. Of these, 1,052 are Under Approvals, 280 are at Construction Started stage, and 490 have been recorded as Completed.
Which states have the most captive power projects in India?
Based on Projects India's tracked data, Maharashtra leads with 407 captive power projects, followed by Karnataka with 301 and Chhattisgarh with 300. Uttar Pradesh, Andhra Pradesh and Odisha also feature prominently in the pipeline.
