HOPE ENERGIES BEGINS Operations at 1.80 GW Solar Module Plant in Gujarat

Solar equipment manufacturer Waaree Energies has started operations at the newly-built 1.80 GW solar module plant in Gujarat, according to a stock exchange filing on Thursday, July 31. The 1.80 GW solar module line manufacturing facility is set up in Degam village, Navsari District in Gujarat.

Shares of Waaree Energies are trading in red on the BSE, ₹152.45 or 4.8% lower than its opening price of ₹2,992.7.

Earlier in the week, the company reported a healthy performance for the April–June quarter of FY26, with consolidated net profit rising 20.3% sequentially to ₹745 crore, compared to ₹619 crore in Q4FY25.

The company also saw a significant boost in operating performance, aided by improved efficiency and cost control. EBITDA came in at ₹997 crore, up 73.4% quarter-on-quarter from ₹575 crore, signalling a sharp jump in operating leverage.

The EBITDA margin improved to 22.5%, compared to 14.3% in the previous quarter, underscoring improved realisations and internal cost efficiencies.

The company also announced last week that it has completed the acquisition of renewable energy company Enel Green Power Development from EGPIPL on January 10, 2025.

The acquisition was made solely for the transformer business, which will now function as an independent strategic business unit within Waaree’s group structure.

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