ICRA Accredits Waaree Energies with Highest ‘SP1A’ Ranking

Waaree Energies Yet To See Approval For Issue Of IPO

Waaree Energies has been assigned SP1A ranking by ICRA emphasizing strong performance capability and financial strength to undertake solar projects

One of India’s leading solar solutions firms, Waaree Energies has been assigned the highest-ranking of SP1A by the Investment Information and Credit Ranking Agency of India (ICRA) under System Integrator Grading. The ranking SP1A emphasises that the company’s superior performance capability and highest financial strength to undertake solar projects. Valid for two years, it reiterates Waaree’s position as the most efficient and trusted player in the solar manufacturing space.

This also makes the brand one of the most preferred partners among stakeholders owing to its robust project financing caliber and sound technological infrastructure. It assures customers timely completion of projects, well-rounded project development skills, expert rooftop solutions, adept power production and superior ability to orchestrate large-scale solar projects contributing to India’s mission of 175 GW by 2022 in the larger scheme of things. Waaree has already executed over 600 MW solar projects and has a record of executing a 50 MW solar project in Vietnam in 100 working days, becoming the first Indian solar company to achieve this feat. 

Dr. Hitesh Doshi, CMD, WAAREE Group said, “We are honoured to have been affirmed with the prestigious SP1A ranking by ICRA. We are also thankful to our stakeholders for their trust and confidence has helped us accelerate our growth journey and scale new heights. We will continue to be committed to customer-centricity, uncompromised service quality and affordable pricing. These recognitions push us to continuously innovate, improve and thrive.”

The ranking derives its strength from the company’s well-nurtured and established a professional relationship with stakeholders, positive customer feedback on projects executed and excellent after-sales service. It is also reflective of Waaree’s well-trained manpower with exceptional experience in the EPC service.

WAAREE was recently recognized as ‘India’s Greatest Brand’ in Solar Industry by AsiaOne for FY. 2019-20. WAAREE has maintained its position as the Bloomberg Tier 1 manufacturer for the last 24 quarters. WAAREE serves over 5000 customers globally which illustrates the trust gained by the company over a period of 32 years of its existence.