Waaree Energies Secures 362.5 MWp Solar Module Order for Indian Renewable Project

19 Feb 2025 , 09:05 PM

Waaree Energies Ltd. has bagged an order for supply of 362.5 MWp of solar photovoltaic (PV) modules from one of the top Indian renewable power project developers. The announcement on Wednesday comes as a critical milestone in Waaree Energies’ push into the domestic renewable energy market.

Solar modules will be supplied in this financial year (2025-26) and will be used for large-scale renewable power projects throughout the country. The development further solidifies India’s focus on clean energy and the country’s efforts to boost its solar power capacity.

The customer is an India-based company involved in the ownership, development, and operation of renewable power projects, according to the company’s regulatory filing.

The deal is a one time order and although the financial details were not disclosed, Waaree Energies stated that this happens to be one of its largest orders in recent time. “No related-party transaction is involved in the contract, and the entity that placed the order is not related or associated with the promoter or group companies,” the company said.

These modules will be key to supporting India’s greenhouse gas emissions target that seeks to rapidly scale up turbocharge solar energy deployment in the country over the coming years. In India, there is an increasing investment in solar technology, leading to India being an important part of the long run sustainable energy policy of the country.

In the National Stock Exchange, shares of Waaree Energies Ltd closed at ₹2216 which is a 2.42% gain than the previous close. The shares has witnessed a total of 5.22% dip in the last one year, and 15% in the last one month.