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Waaree Energies Secures 150 MWp Solar PV Modules Order

Waaree Energies has secured a 150 MWp solar PV module order from a domestic player engaged in the business of owning, developing and operating renewable power projects.

January 02, 2025. By Mrinmoy Dey

Waaree Energies has announced that the company has received an order for supply of solar PV modules for 150 MWp from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India.

The supply of modules is scheduled to commence in FY 2025-26, the company informed in a regulatory filing.

The contract includes the supply of Waaree's flagship high-efficiency Glass N-type Topcon bifacial modules, rated at 585/590Wp. “These modules are recognised for their durability, exceptional energy output, and advanced technology, showcasing Waaree's unwavering commitment to quality and innovation,” the company asserted in a statement.

“As the only solar panel manufacturer in India featured in the RETC PV Benchmarking Report 2024, Waaree’s modules exemplify quality, reliability, and performance. Recognized as a Tier 1 solar module manufacturer by Bloomberg New Energy Finance (BNEF), Waaree operates an NABL-accredited testing lab, ensuring the highest standards of excellence. These accolades reinforce the company’s commitment to powering renewable projects, enhancing energy reliability, and significantly reducing carbon emissions,” it said.

In fact, the company has reported a slew of new orders and aggressive expansion plans to meet them since being listed in late October. In December 2024, the company announced receiving orders of 1 GW solar modules featuring advanced TOPCon 580Wp bifacial glass modules.

In early December, the company reported securing orders for 398 MWp and 524 MWp of solar modules. In December 2024, the company reported cumulative orders of about 1.9 GW.

The company operates five manufacturing facilities across Gujarat and Uttar Pradesh, with an installed capacity of ~13.3 GW for solar PV modules (including 1.3 GW of Indosolar).

Waaree Energies is also commissioning a 5.4 GW solar cell manufacturing plant in Chikhli, Gujarat. Further, a 6 GW integrated facility in Odisha too is in the advanced stages of planning.

Going beyond solar, Waaree's ambition is to move towards a broader energy transition theme. Hence, the company is also foraying into green hydrogen and battery energy storage systems.

Last month, Waaree Energies’ board approved an INR 850 crore investment for setting up a 300 MW electrolyser manufacturing plant and a 3.5 GWh lithium-ion storage cell manufacturing plant, along with INR 130 crore in capital expenditure for its inverter business.
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