Waaree supplied 1.53 MW of Solar Modules to RBA Power Private Limited.

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Waaree Energies, one of India’s leading solar PV module manufacturers, has Supplied Poly 335 Wp solar modules for a project developed by RBA Power Pvt. Ltd. The size of the project is 1.53 MW located at Kovilpatti, TN, India. Waaree has supplied 1.53 MW of poly solar modules for this prestigious project. The project has been commissioned in September 2021. The finance for this project was taken from Indian Bank on a “Non – recourse / Lease financing basis.”

Waaree Energies Ltd is one of India’s leading Solar PV Module manufacturers with a capacity of 2 GW’s at its facilities in Surat, Tumb, and Nandigram in Gujarat. The vision of Waaree Energies is to provide quality, cost-effective sustainable energy solutions across markets. It provides EPC services, project development, rooftop solutions. It has presence across India.

Disclaimer: Waaree Energies Limited is proposing, subject to receipt of requisite approvals, market conditions, and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of the SEBI at http://www.sebi.gov.in as well as on the websites of the book running lead managers, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited and Intensive Fiscal Services Private Limited, respectively, and the websites of the stock exchange(s) at http://www.nseindia.com and http://www.bseindia.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.

This announcement is not an offer for the sale of securities in the United States. The equity shares of the Company may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.

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