Waaree Energies has secured a Letter of Award to supply 180 MWp of solar modules to a prominent player in the renewable energy sector in India. This customer specializes in owning, developing, and operating renewable power projects. The delivery of modules is set to begin in the 2025–26 financial year.
The company is also enhancing its independent power producer (IPP) portfolio through joint ventures where it holds a majority stake. This strategic move is expected to diversify Waaree’s revenue streams, bolster its wind project execution capabilities, and strengthen its IPP business.
In December, Waaree’s board approved capital expenditure of nearly ₹3,500 crore for its electrolyser, lithium-ion battery, and inverter manufacturing ventures. This includes a ₹2,073-crore investment in a 3.5 GWh lithium-ion advanced chemistry cell manufacturing facility under its subsidiary, Waaree Energy Storage Solutions Pvt. The funding will come from a mix of debt and internal resources.
Headquartered in Mumbai, Waaree operates with a 13.3 GW solar PV module manufacturing capacity, which includes 1.3 GW from Indosolar. It also has a 5.4 GW PV cell production capacity in Gujarat and is constructing a 6 GW wafer-to-module facility in Odisha.
Beyond India, Waaree is expanding globally, with plans to establish a 1.6 GW solar module manufacturing unit in Houston, Texas. The facility is expected to grow to 3 GW by fiscal 2026 and further to 5 GW by fiscal 2027.
Founded in 1990, Waaree Energies Limited (WAAREE) stands as a leader in India’s renewable energy sector, driving the global shift towards sustainable energy. Headquartered in Mumbai, the company boasts advanced manufacturing facilities with a combined solar PV module production capacity of approximately 13.3 GW, including 1.3 GW from Indosolar. With a presence spanning across India and more than 25 countries worldwide,
Waaree offers a comprehensive range of solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems. Dedicated to promoting sustainability, Waaree delivers innovative and cost-effective energy solutions to power a greener and brighter future.
