Waaree Energies Starts Solar Cell Production Trials At Chikhli

Indian solar module manufacturer Waaree Energies today announced the commencement of trials for its solar cell manufacturing operations. These trials have begun at its solar cell factory located in Chikhli, Gujarat. This latest development is expected to enhance the backward integration capacity of the Mumbai-based solar company.

Led by Hitesh Doshi, the company plans to produce 5.4 GW of solar cells from this production line. In its latest filing with the stock exchanges, the company stated, “This is to inform you that the Company has today initiated the commencement of trial production at its state-of-the-art 5.4 GW solar cell manufacturing facility in Chikhli, Gujarat.”

Amit Paithankar, Whole-time Director & CEO, Waaree Energies Ltd., remarked, “The commencement of trial production at our solar cell manufacturing facility is indeed an achievement for us and a testament to India’s renewable energy aspirations. Our drive for backward integration is aligned with the nation’s goal of reducing dependence on imports, thereby creating a robust, self-reliant solar supply chain. This facility features our dedication to research-driven innovation, which ensures we deliver world-class products. Beyond technological advancements, this also fosters economic growth by creating significant employment opportunities and driving sustainability in the sector.”

 

Expanding backward integration 

Waaree Energies, recognized as the largest solar module manufacturer in India, is also one of the leading exporters of solar modules globally. The company has ambitious expansion plans underway. As one of the winners of the Indian government’s Production Linked Incentives (PLI) scheme, Waaree Energies is set to establish an integrated facility in Dhenkanal, Odisha. This unit will produce ingots, wafers, solar cells, and solar modules, with a total planned capacity of 6 GW. The new unit in Odisha is likely to be operational by around 2027.

US Expansion and Stock Exchange

Earlier in 2024, the company entered the Indian stock market with its Initial Public Offering (IPO), joining the ranks of other solar companies such as Premier Energies, Websol Energy, Gensol Engineering, Sterling and Wilson, Borosil Renewables, and Shakti Pumps.

Waaree Energies also recently announced the commencement of trials for its solar module manufacturing plant at its newly opened facility in the United States. The US-based plant was established to leverage benefits under the Inflation Reduction Act (IRA). While the company has been exporting to multiple countries, a significant portion of its exports has historically been directed to the United States.

Watch the interview with Waaree Energies management (dated Oct 3, 2024) where its CEO Amit Paithankar talks about its Chikhli plant here-