Waaree Energies Ships 2.5 GW of Solar Modules Globally

Waaree Energies Yet To See Approval For Issue Of IPO

Manufactures 4 MW of solar panels per day.

Waaree Energies, India’s largest solar panel manufacturer and a leader in the EPC, has recently cemented its position as the largest module supplier in India. Having a whopping annual production capacity of 1.5 GW, Waaree manufactures 4 MW solar modules every day. They have already supplied almost 2.5 GW of modules globally, marking its dominance in the solar power industry.

Waaree solar modules have been shipped to 6 continents, across 68 countries. With more than 120 tests performed at various stages of manufacturing, Waaree maintains its quality above global standards. Waaree modules are trusted and financed by over 25 leading banks and NBFCs globally.  With the recently extended manufacturing capacity of 1.5 GW, Waaree’s supply chain is successful primarily because of the large scale marquee clients including developers, integrators, and EPC contractors globally. Waaree serves over 5000 customers globally which illustrates the trust gained by the company over a period of 30 years of its existence.

As the undisputed leader in the space, Waaree has observed the maximum demand from Western India. This is largely due to their enhanced demand from the C&I sector, while Southern India witnessed an uptick due to the vast farms that are viable for ground mounted plants. The residential segment overall has picked up demand by 60% since 2018 on account of lucrative government policies, while the overall solar PV market witnessed a growth of 40% since 2018.

Sunil Rathi, Director Sales & Marketing, Waaree Energies Ltd, says “Waaree Energies has witnessed an increasing demand for clean energy in India and abroad. This is primarily due to the various awareness drives by the RE 100 mission. Moreover conventional sources of energy will now have to attain solar grid parity due to the cost effectiveness and this proposition has become a hit in the corporate segment.

Our focus always lies in making solar accessible to all, and our post sales service has won us some of the biggest names in the industry, as our clientele. The current clientele also stands testament to the credibility the brand holds in the industry.”

Leading the industry through its innovative solutions, Waaree has successfully established its presence across 68 countries, including USA, UK, UAE, Australia, Germany, Italy, Czech Republic, Bangkok, Singapore, and Vietnam, through its module supply. Besides the 2.5 GW of modules that it has already supplied till date, the company has also commissioned over 600 MW of EPC projects in India. Waaree is present in 280 locations in India through its wide channel partner network, and has successfully held its position as a Bloomberg Tier 1 manufacturer consecutively for the past 17 quarters.

Press Release by Waaree Energies