Solar Energy stock which is India’s largest solar module manufacturer with a wide range of portfolio across various renewable energy segments in focus upon receiving work order to supply 600 Mwp of Solar PV Modules.
Price Action
With a market capitalization of Rs. 72,736 Crores, the shares of Waaree Energies Limited were trading at Rs. 2,532 per equity share, down 2.5 percent from its previous day’s close price of Rs. 2,596.60.
What Happened
Waaree Energies Limited has received a new work order from a Renowned customer engaged in the business of owning, developing, and operating renewable power projects in India, for the supply of Solar PV Modules of upto 600 MWp, the supply of modules is scheduled to commence in FY 2025-2026.
About the Company
Waaree Energies Limited is the largest solar PV modules manufacturer in India, and also the largest Indian exporter of solar modules with 10+GW of solar modules supplied to more than 20 countries. It has a strong order book of ~20GW
It has a wide product portfolio of solar energy products that consists of Multicrystalline modules Monocrystalline modules and TopCon modules including flexible bifacial modules as well as building-integrated photovoltaic (BIPV) modules.
PLI Win
Waaree Energies Limited has been awarded PLI for a 300 MW Electrolyser Manufacturing Plant
Portfolio
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.
Installed Capacity & Market Share
As of Q2FY24, Waaree Energies Limited is the largest manufacturer of solar PV modules with the largest aggregate installed capacity of 13.3 GW and a market share of 17 percent share in India in terms of annual installed capacity. It has four solar module manufacturing facilities in India, with an international presence
Capex Plans
Waaree Energies Limited is establishing a 6GW Ingot Wafer, Solar Cell, and Solar PV Module manufacturing facility in Odisha, India, with an estimated cost of Rs. 9049.95 Crores, to backward integrate its operations and reduce its reliance on imports of raw materials. It is expected to commence commercial operations in FY27
It is also constructing a 5.4 GW Solar Cell manufacturing plant and it is expected to be operational by FY25.
Written by: Bharath K.S
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