WAAREE Energies secures USD 2.37 billion worth of new orders
Indian solar panel manufacturer, Waaree Energies has received new orders from Indian and international customers amounting to USD 2.37 billion.
Waaree Energies Limited, one of the leading solar energy companies in India and a leading manufacturer of photovoltaic cells and modules, has issued a press statement announcing that it has secured new orders worth USD 2.37 billion from India and international markets for 540 Wp and 600 Wp bifacial solar panels.
Over the years, Waaree has developed a reputation for manufacturing high-quality, technologically advanced PV modules. Using M10 and M12 cells, the panels for the supply order will be produced at Waaree’s manufacturing facility.,
In India, Waaree operates four manufacturing facilities, including five factories in Surat, Chikhli, Tumb and Nandigram. It currently produces 4 GW of PV modules and plans to add another 5 GW by the end of 2022. The 4 GW of solar cell manufacturing capacity of the company is expected to be operational by March 2023.
Chairman & Managing Director, Waaree Energies Limited, Hitesh Doshi stated, “These orders are in line with the Indian government’s vision of Atmanirbhar Bharat, which is expected to generate over USD 2 billion in foreign exchange while creating opportunities for hundreds of jobs. We will be able to strengthen our market position as we expand into new markets and diversify our clientele. For every member of the Waaree family, it is an honor to see customers globally recognize and accept our constant efforts to provide high quality and high efficiency Solar PV Modules.”
Modules manufactured by Waaree that comply with global standards have been delivered to 19 countries. In 2018, 2019, 2020, and 2021, Waaree Energies consistently received a “Tier-1 PV module manufacturer” rating from Bloomberg New Energy Finance (BNEF). It has been recognized by The Economic Times as “India’s Best Brand” in the solar industry. Moreover, Waaree has recently been recognized as one of the Top Performers in the 2022 Scorecard by PVEL, a globally recognized lab that specializes in photovoltaic testing.
The company has 388 franchisees in 25 states and two union territories throughout India as of June 30, 2021, cementing its position as one of the major players in India’s solar energy industry.
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