Solar Leader Waaree Energies Drums Up Module Manufacturing Capacity to 12 GW

Waaree Energies Supplies 850 MW Solar Modules to Acciona for US Projects

Leading solar panel manufacturer, Waaree Energies, which currently has an operational 9 GW module manufacturing facility, is looking to set up additional module manufacturing capacity. With this addition to its portfolio, the firm’s module manufacturing capacity will rise to 12 GW including for for  650 watt modules by March 2023. This will be the largest module manufacturing capacity in the world outside of China.

Currently, Waaree Energies claims to be the lone manufacturer in the country that is ALMM-approved for the shipment of high-wattage panels of 650 WP along with 600 WP and 540 WP. These are manufactured from its facilities in Surat, Chikhli, Tumb, and Nandigram in Gujarat.

Earlier this year, Waaree Energies acquired solar cell producer Indosolar. Following this addition, modules will be made at Greater Noida in NCR for the domestic market in Q3 of 2022. The leading solar manufacturer also holds a lion’s share of 17% of the total shipment of modules. Nearly 85% of the modules shipped were high-efficiency mono-perc technology.

Hitesh Doshi, Chairman and Managing Director, of Waaree Energies, said, “2022 was a very eventful year for solar manufacturing, the country took more than 15 years to reach a module manufacturing capacity of 10 GW and in less than one year in 2022, the country has established over 30 GW and is marching towards reaching 100 GW. Thanks to our Government’s focus on energy security, Atmanirbhar Bharat, boosting local employment and conserving our forex. The implementation of import duty (BCD) and ALMM has changed the import oriented market to domestic manufacturing. With policies in place now, Made in India will further grow due to PLI 2 in 2023 .Waaree is committed to make in India. There are a huge number of projects waiting to be deployed which will need solar panels in the coming one year. This expansion will help buyers in all respects.”

Waaree became the first module manufacturer in India to get NABL Accreditation for its PV module test lab (PMTL) at Tumb location. A similar lab will be set up at Sri Godiji plant and will house world-class testing equipment capable of performing more than 30 critical IEC tests. Waaree’s lab is also India’s first IEC-CB-CTF (Customer test facility) from Intertek, for reliability testing and certification.

To meet upcoming domestic demand, Waaree is not only expanding its capacity, but will also provide the latest high efficiency technologies like TopCon and HJT. Waaree’s acquisition of Indosolar Limited is expected to facilitate the capacity augmentation of solar cell manufacturing to 5.4 GW, helping the firm take leadership in solar cell manufacturing too.  

The firm has been on upward growth curve consistently and Q2 FY23 was no different.

Waaree Energies has also been providing EPC services, project development, rooftop solutions, and solar water pumps and is an Independent Power Producer. It has established its presence in over 388 locations nationally and 19 countries globally.