WAAREE Energies Secures New Orders Worth USD 2.37 Billion

Waaree Energies Limited is one of India’s leading players in the photo-voltaic module manufacturing industry. It has bagged new orders worth USD 2.37 billion from India and International markets to supply high efficiency bifacial solar panels of 540Wp and 600Wp. These panels will be produced in Waaree’s manufacturing facility using M10 and M12 cells.

Waaree has a current capacity of 4 GW for PV module manufacturing and plans to increase that by 5 GW by December 2022. 4 GW solar cell manufacturing capacity is expected to be operational by March 2023.

Mr. Hitesh Doshi, Chairman & Managing Director, Waaree Energies Limited stated, “These orders are consistent with the Indian government’s vision of Atmanirbhar Bharat, and will bring in more than USD 2 billion in foreign exchange while creating hundreds of job opportunities. These orders will enable us in strengthening our market position as we diversify our clientele and expand into newer markets. It is a matter of great pleasure for the entire Waaree family that customers globally continue to acknowledge and accept the constant endeavors to provide high quality and high-efficiency Solar PV Modules.”

Solar modules manufactured by Waaree and confirmed to global standards have been delivered to 19 countries. Waaree Energies has also consistently received a “Tier-1 PV module manufacturer” rating from the Bloomberg New Energy Finance (BNEF) in 2018, 2019, 2020, and 2021. WAAREE has been recognized as “India’s Best Brand” in the solar industry, by The Economic Times. PVEL, a globally recognized Lab in photovoltaic testing, has recently recognized Waaree as Top Performer in its 2022 Scorecard.