Waaree Energies Adds 1 GW Module Order

Waaree Energies Limited, India’s largest solar module manufacturing company with capacity of 13.3 GW announces securing a significant order for the supply of 1 GW of solar modules from a renowned developer. The new order follows the massive success Indian manufacturers are enjoying in the utility scale segment after the new DCR rules came into the picture from April 2024.

The order, set for delivery in the calendar year 2025, includes the cutting-edge Topcon 580Wp Bifacial Glass modules. These high-efficiency solar modules are designed to maximize energy production, making them an ideal choice for large-scale solar projects.

Acknowledged as a Tier 1 solar module manufacturer by Bloomberg New Energy Finance (BNEF), Waaree operates a NABL-accredited testing lab, ensuring the highest levels of quality assurance.

Speaking on the occasion Dr Amit Paithankar, CEO, Waaree Energies Limited, said “This is a very substantial business added to our order book. We will keep ensuring that we serve our customers relentlessly and meet their delivery expectations by supplying highest quality solar modules. This order is another step towards reducing of GHG emissions and promoting sustainable living.”

Established in 1990, Waaree Energies Limited (WAAREE) recently completed the successful listing of the firm on the stock exchanges in India. The shares have rewarded investors handsomely since, gaining almost 80% over the issue price.

Large Orders, both in size and frequency, have been the feature of the year for India’s solar module makers, as the country seems set to add almost 25 GW of fresh capacity this year, and a higher figure next year. With cell production also increasing domestically, firms like Waaree Energies enjoy a significant advantage to service this demand, consequently enjoying order books that are possibly booked till June 2025 for now. Fresh cell manufacturing capacities expected to come online over the next few quarters is expected to ease the situation somewhat for DCR modules, but Waaree, with the scale and experience it has, seems very well placed to benefit from the capacity ramp up.