ALMM Update: Waaree Energies Dominates, Tata Power Follows Up

The latest details furnished by the Approved List of Models and Manufacturers (ALMM) for solar modules by the Ministry of New and Renewable Energy (MNRE) indicated that Waaree Energies continues to dominate the list with the highest capacity. On the other hand, several module manufacturing companies are following up with their increased expansion plans. This included companies like Tata Power and others.

The latest Approved List of Models and Manufacturers (ALMM) from the Ministry of New and Renewable Energy (MNRE), dated January 6, 2025, highlights significant capacity additions by both companies. According to the list, Waaree Energies currently has a total enlisted solar module manufacturing capacity of 11,919 MW.

Waaree’s Domination

Waaree’s capacity stems from its three-module factories. The largest contribution of 9,668 MW comes from its Navsari plant in Gujarat. An additional 1,156 MW is produced at its Nandigram plant in the Valsad district of Gujarat. The remaining 1,095 MW comes from its Tumb solar plant, also located in the Valsad district. The company is aggressively expanding and plans to establish new facilities outside Gujarat.

Tata Group’s Diversified Portfolio

The Tata Group, through its diversified subsidiaries, has also ramped up solar module manufacturing across India. The latest ALMM showed that Tata Power Group (Tata Power+TP Solar) had a total enlisted capacity of 7,893 MW. This includes its co-branding arrangements with Vikram Solar for 2 GW capacity and excludes Tata Power’s internal co-branding arrangement with TP Solar for 4 GW capacity.

According to the MNRE data, 577 MW of Tata’s capacity is from Tata Power Solar’s Bangalore plant on Hosur Road, while another 94 MW is from its Bangalore plant in Hobli. The majority, 5222 MW, is produced at TP Solar’s Tirunelveli plant in Tamil Nadu.

In co-branding arrangements, Tata Power has:

• 1,000 MW with Vikram Solar’s Tamil Nadu plant, and
• 1,000 MW with Vikram Solar’s West Bengal plant.

Venture into Solar Cells

Both companies are also venturing into backward integration with solar cell production. TP Solar has commenced solar cell production at its Tamil Nadu plant. Meanwhile, Waaree Energies recently announced the trial production of solar cells from its proposed 5.4 GW solar cell plant in Chikhli, Gujarat. Waaree is also planning a new solar cell and integrated manufacturing plant in Odisha.

Financial Strength and Future Prospects

Both companies are financially robust and have a presence in the public market. With increasing demand for solar energy in the coming years, competition between Waaree Energies, the Tata Group, and other emerging players is expected to intensify, driving further innovation and disruption in India’s solar market.