Waaree Energies Becomes First Indian Solar Manufacturer to Earn ‘A’ Rating in PV Tech Bankability Rankings

Waaree Energies Limited has become the first Indian solar PV module manufacturer to receive an ‘A’ category rating in PV Tech’s prestigious ModuleTech Bankability Ratings.

The company has attained this rare distinction basis its strong financial performance and stability along with advanced manufacturing capabilities, and commitment to delivering high-quality, reliable solar modules.

The PV ModuleTech Bankability Ratings serve as a definitive benchmark for investors, developers, and EPCs (Engineering, Procurement, and Construction) seeking to mitigate risk and ensure long-term returns in solar projects.

This independent assessment evaluates PV module manufacturers on critical factors such as financial stability, production capacity, market reputation, after-sales support, and technological innovation. It also considers a manufacturer’s value chain strength, global shipping capabilities, capital expenditure (capex) in infrastructure and technology, research and development investments, and cash flow management- key indicators of long-term reliability and scalability.

With a manufacturing capacity of approximately 15 GW globally, Waaree demonstrates a robust value chain and a strong global supply footprint. Further, Waaree’s PV Module Test Laboratory (PMTL) in Chikhli, accredited by NABL, emphasises the company's assurance of quality and innovation, guaranteeing that the modules adhere to the highest international standards of durability and efficiency.

Commenting on the recognition, Dr. Amit Paithankar, Whole-time Director and CEO, Waaree Energies Limited, said, “This prestigious accreditation is a demonstration of our consistent pursuit for excellence in solar manufacturing. It not only reaffirms our assurance to quality, reliability, and sustainability but also positions Indian manufacturers on the global map of excellence."

"As India strides towards energy independence, such global recognition further enhances the credibility of Indian solar manufacturing, paving the way for greater international collaborations and market expansion. Waaree remains dedicated to pioneering radical solutions that empower a greener, more sustainable future for all,” added Paithankar.

Waaree has been at the forefront of next-generation solar technology with its TOPCon and HJT modules, offering world-class, high-efficiency solutions tailored for evolving energy needs. The ‘A’ rating by PV Tech essentially places the company in an elite group of industry leaders who are renowned for their financial strength, reliability, and technological advancements.