Waaree Energies secures order to supply 362.5 MWp solar PV modules in India

Waaree Energies Ltd. has announced the receipt of a order for the supply of 362.5 megawatt peak (MWp) of solar photovoltaic (PV) modules from a prominent Indian renewable power project developer. The order, confirmed on Wednesday, is a key step in the company’s continued growth within the domestic renewable energy sector.

The deal, which marks a notable milestone for Waaree, will see the company supply the solar modules starting in the 2025-26 fiscal year. The modules will be used for large-scale renewable power projects in India, further strengthening the country’s transition to clean energy.

The customer, a domestic entity involved in owning, developing, and operating renewable power projects, has placed a one-time order, the company stated in a regulatory filing. Waaree Energies did not disclose the exact financial terms of the contract but confirmed that it is one of the largest orders the company has received in recent years.

The company also clarified that the contract does not involve related-party transactions and that there is no involvement of the promoter or group companies in the entity that placed the order. The agreement was awarded by a domestic entity, underscoring Waaree’s growing influence in the Indian renewable sector.Waaree’s solar modules will play a crucial role in supporting India’s renewable energy targets, which aim to significantly increase solar power capacity in the coming decades. The country’s push for clean energy has seen increased investment in solar power, which is expected to form a major part of the energy mix.

Shares of Waaree Energies ended 2.4% higher at ₹2,216.90 on Wednesday.