19th May 2022, Mumbai: Waaree Energies Limited, one of the major players in the solar energy industry in India focused on photo-voltaic (PV) module manufacturing has bagged new orders worth USD 2.37 billion from India and International markets to supply high efficiency bifacial solar panels of 540Wp and 600Wp. These panels will be produced in Waaree’s manufacturing facility using M10 and M12 cells.
Waaree currently has a 4 GW PV module manufacturing capacity and plans to add another 5 GW by Dec 2022. 4 GW solar cell manufacturing capacity is expected to be operational by March 2023.
Mr. Hitesh Doshi, Chairman & Managing Director, Waaree Energies Limited stated, “These orders are consistent with Indian government’s vision of Atmanirbhar Bharat, and will bring in more than USD 2 billion in foreign exchange while creating hundreds of job opportunities. These orders will enable us in strengthening our market position as we diversify our clientele and expand into newer markets. It is a matter of great pleasure for the entire Waaree family that customers globally continue to acknowledge and accept the constant endeavors to provide high quality and high efficiency Solar PV Modules.”
Solar modules manufactured by Waaree and confirming to global standards have been delivered to 19 countries.
About Waaree Energies
Waaree Energies is one of the major players in the solar energy industry in India focused on PV module manufacturing.. The company currently operates four manufacturing facilities comprising of five factories in India at Surat, Chikhli, Tumb and Nandigram. The company over the years has developed a track record of manufacturing high quality and technologically advanced PV modules. As of June 30, 2021, the company had 388 franchisees in 25 states and two Union Territories across India.