Waaree Energies Lands 105 MW Solar Deal, Boosts Rs 47,000 Cr Order Book

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AuthorRiya Kapoor|Published at:
Waaree Energies Lands 105 MW Solar Deal, Boosts Rs 47,000 Cr Order Book
Overview

Waaree Energies Limited has secured a new domestic order for 105 MW of solar modules, expected for completion by the 2025-26 financial year. This development reinforces the company's substantial Rs 47,000 crore order book and its leading position in India's burgeoning renewable energy sector, contributing to national green energy goals.

Renewable Order Boosts Waaree Energies

Waaree Energies Limited, a dominant force in India's solar energy market, has secured a significant domestic order to supply 105 megawatts (MW) of solar modules. The contract with a prominent Indian renewable power project developer is slated for completion within the 2025-26 financial year. This deal further solidifies the company's formidable Rs 47,000 crore order book and its critical role in advancing India's green energy infrastructure.

Company's Market Dominance

Founded in 1990, Waaree Energies stands as India's largest manufacturer and exporter of solar photovoltaic (PV) modules. The company boasts an aggregate installed capacity of 15 gigawatts (GW) and operates five manufacturing facilities across India. Waaree is actively expanding its production capabilities, aiming for 21 GW by 2027, with strategic backward integration into solar cell, ingot, and wafer manufacturing.

Financial Performance and Outlook

With a market capitalization exceeding ₹73,000 crore, Waaree Energies demonstrates robust financial standing. The company's stock has shown resilience, trading up by 44 per cent from its 52-week low of ₹1,808.65 per share. This recent order is expected to further bolster investor confidence in the company's growth trajectory within the high-potential renewable energy market.

Contribution to Green Energy Goals

This new contract is a testament to Waaree's capability in meeting large-scale demands for solar technology. By supporting the expansion of renewable power projects, the company directly contributes to India's ambitious climate targets and its transition towards sustainable energy sources. The ongoing growth in its order book reflects strong demand for solar solutions in both domestic and international markets.

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