Waaree Energies Limited, a leading player in India's renewable energy sector, has announced a significant milestone. The company has secured a contract to supply solar photovoltaic (PV) modules totaling 150 MWp to a prominent domestic customer engaged in renewable power projects.

This development underscores Waaree Energies' strong presence in the solar module manufacturing sector and its commitment to supporting India's renewable energy goals. Below, we delve into the details of this new order and its implications for Waaree Energies and the renewable energy market in India.

Key Details of the Contract

1. Order Description
   The contract involves the supply of 150 MWp of solar PV modules, a critical component in renewable energy generation. These modules will play a pivotal role in supporting the customer's renewable power projects across India.

2. Entity Awarding the Order
   While the name of the customer has not been disclosed, the client is described as a renowned domestic company specializing in the ownership, development, and operation of renewable energy assets.

3. One-Time Supply
   The nature of the order is one-time, with the delivery of modules scheduled to commence during FY 2025-26. This timeline aligns with the growing demand for renewable energy infrastructure in India.

4. No Promoter Interest or Related Party Transactions
   Waaree Energies has confirmed that neither its promoters nor its group companies have any interest in the awarding entity. Additionally, the contract does not fall within the scope of related party transactions.

Significance of the Order

Securing this order reinforces Waaree Energies' leadership in the solar energy sector. With India ambitiously targeting renewable energy capacity expansions, the demand for high-quality solar PV modules is growing rapidly.

1. Boost to Domestic Manufacturing
   As a Make in India advocate, Waaree Energies contributes to the localization of solar module manufacturing, reducing dependency on imports.

2. Strengthening Market Position
   This contract strengthens Waaree Energies' reputation as a trusted supplier for large-scale renewable projects, further solidifying its market position.

3. Support for India’s Renewable Energy Goals
   India's commitment to achieving 500 GW of renewable energy capacity by 2030 drives the need for robust solar infrastructure. Waaree Energies' role in this contract aligns with these national objectives.

Implications for FY 2025-26

The scheduled commencement of module supply in FY 2025-26 signifies Waaree Energies' forward-looking business strategy. This aligns with:

• Scaling Operations: Ensuring readiness for large-scale deliveries.
• Revenue Growth: Strengthening financial performance through high-value contracts.

About Waaree Energies

Headquartered in Mumbai, Waaree Energies is one of India's largest solar module manufacturers. The company has consistently expanded its capabilities, offering a diverse range of products and solutions in the renewable energy space.

With this latest contract, Waaree Energies continues to play a vital role in advancing India’s clean energy transition.

For more details, visit their official website: www.waaree.com.

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