BlackRock held India’s largest solar PV module manufacturer in India with an orderbook of upto Rs. 50,000 Crores in focus upon receiving notification for setting up a 90,000MTPA Green Hydrogen Facility in India.
Price Action
With a market capitalization of Rs. 69,436 Crores, the shares of Waaree Energies Limited were trading at Rs. 2,417 per equity share, up 1 percent from its previous day’s close price of Rs. 2,393.70.
What Happened
Waaree Energies Limited has announced that its subsidiary Waaree Clean Energy Solutions Private Limited under the Strategic Interventions for Green Hydrogen Transitions (SIGHT) Scheme has received a notification of award from the Solar Energy Corporation of India Limited for setting up a 90,000MTPA Green Hydrogen production facility in India.
About the Company
Waaree Energies Limited is the largest solar PV modules manufacturer in India, with a presence across 28 states with 387 franchisees.
It has a wide product portfolio of solar energy products that consists of Multicrystalline modules Monocrystalline modules and TopCon modules include flexible bifacial modules as well as building-integrated photovoltaic (BIPV) modules.
Waaree Energies Limited has a strong product portfolio consisting of Solar Modules, Flexible Modules, Lithium Ion Batteries, Battery Energy Storage Systems, On/Off Grid Inverters, water pumps, and Green Hydrogen Solutions. It has an orderbook of 26.5 GW valued at Rs 50,000 Crores.
Installed Capacity and Future Plans
As of Q3FY24, Waaree Energies Limited is the largest manufacturer of solar PV modules with the largest aggregate installed capacity of 15 GW, and 5.4 GW of solar cell manufacturing.
By FY27, Waaree Energies Limited intends to achieve 21 GW of Module Manufacturing, 11.4 GW of Solar Cell manufacturing and 6GW of Ingot.
BlackRock Investment
BlackRock Institutional Trust Company managed National Pension Service has made investments worth ~Rs. 31.75 Crores in Waaree Energies Limited during its IPO through the anchor book.
Written by: Bharath K.S
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