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Press Release

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Press Release - Waaree Energies

Waaree was recently recognized as 'India's Greatest Brand' in Solar Industry by AsiaOne for FY. 2019-20.

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<div class="icon-wrap"> </div><div class="footer-detail-title"><h4>Corporate Office</h4> </div><div class="footer-detail">Waaree Energies Ltd. 602, Western Edge-I, Off Western Express Highway, Borivali (E), Mumbai - 400066. Maharashtra, India.</div>

Waaree completes 50MW Solar Module Supply to a Developer &amp; Fortune 500 Company in USA &nbsp;&nbsp;
Waaree completes 50MW Solar Module Supply to a Developer &amp; Fortune 500 Company in USA
&nbsp;
WAAREE Energies ltd, India’s Largest Solar panel manufacturer has completed the timely delivery on 50 MW Solar modules Fortune 500 Company, in USA.
The project shall install WAAREE’s high efficiency 380, 385 Wp Mono PERC Solar PV modules. The renewable power generated by the project will be sold through a power purchase agreement in USA. The timely delivery of Solar Modules in this pandemic clearly shows the commitment of WAAREE towards it customers.
WAAREE Energies has recently earned IECEE CB certifications for its Bifacial Solar Modules. This is first of its kind certificate gained by any other company across globe. This certification is granted by UL, IECEE, the IEC System for Conformity Assessment Schemes for Electrotechnical Equipment and Components, is a multilateral certification system based on IEC International Standards. WAAREE has already supplied near to 3 GW of solar panels till date globally, and commissioned over 600 MW of solar EPC projects in India &amp; south east asia .
Speaking on this achievement, Mr. Sunil Rathi, Director Sales and Marketing, WAAREE Energies Ltd., said "We at WAAREE are committed to provide the best quality of products along with the latest technology. This order had to be delivered to USA, on time despite the pandemic outbreak. Our team at WAAREE had worked seamlessly to make deliveries on time, and gained confidence of large customers. We have Technology and capabilities to execute large scale orders internationally in timely manner. We are expanding our capacities and are equipped for much bigger association globally."
WAAREE solar modules have been shipped to 6 continents, across 68 countries. With more than 140 tests performed at various stages of manufacturing, WAAREE maintains its quality above global standards. WAAREE has maintained its position as the Bloomberg Tier 1 manufacturer for the last 21 quarters. WAAREE modules are trusted and financed by over 50 leading banks and NBFCs globally. WAAREE’s supply chain is successful primarily because of the large scale marquee clients including developers, integrators, and EPC contractors globally. WAAREE is the only Indian solar company to be recognized as "India's Greatest Brand" in solar Industry. WAAREE serves over 5000 customers globally which illustrates the trust gained by the company over a period of 30 years of its existence.
About WAAREE Energies
WAAREE Energies Ltd. is the flagship company of WAAREE Group, and has the country's largest Solar PV Module manufacturing capacity of 12 GW. In addition, it is one of leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and as an Independent Power Producer. WAAREE has its presence in over 350+ locations nationally and 68 countries globally.

Waaree - India's largest Vertically Integrated Solar Energy Solution Company

Waaree completes 50MW Solar Module Supply to a Developer & Fortune 500 Company in USA

Waaree Energies Limited signs contract with Mahindra Susten to supply 280 MW solar modules 
Mumbai, 27th February, 2024: Waaree Energies Limited, India&rsquo;s largest manufacturer of solar PV modules with the largest aggregate installed capacity of 12 GW, as of June 30, 2023 (Source: CRISIL Report), announced today that it has entered into an agreement with Mahindra Susten a renewable independent power producer (&ldquo;IPP&rdquo;) player for the provision of 280 MW of solar modules. Waaree Energies Limited will supply 280 MW of AHNAY Series, Bi-55 545Wp modules to Mahindra Susten. Module delivery is expected during third quarter of Fiscal 2025.
The selected modules by Mahindra Susten are bifacial Glass-to-Glass with a 30-year output performance warranty. Waaree Energies Limited, India&rsquo;s largest manufacturer of solar PV modules with the largest aggregate installed capacity of 12 GW, as of June 30, 2023 (Source: CRISIL Report), marked by NABL approved laboratory, and the company&rsquo;s capacity to meet delivery timelines while ensuring quality products played a pivotal role in the company securing this project over its competitors.
Waaree Energies Limited&rsquo;s bifacial Glass-to-Glass modules incorporate improved efficiency and durability.
Commenting on the agreement, Mr. Hitesh Doshi, Chairman &amp; Managing Director, Waaree Energies Limited, said, &ldquo;Delving into this partnership with Mahindra Susten brings immense pleasure to Waaree Energies Limited. It is yet another step in our commitment to advancing India's clean energy transition as we embark on this journey, providing 280 MW of our AHNAY Series, Bi-55 545Wp solar modules. Our mission revolves around promoting the widespread adoption of sustainable energy solutions through strategic collaborations and partnerships.&rdquo;
Mr. Deepak Thakur, Managing Director &amp; CEO, said, &nbsp;&ldquo;We are pleased to announce our partnership with Waaree Energies Limited for supply of solar modules. Their 'Made-in-India' products perfectly align with our commitment of supporting 'Atmanirbhar Bharat' in our projects. In our pursuit of powering the nation with clean, sustainable energy, we are committed to significantly develop multiple IPP renewable energy projects. We are excited about the opportunities ahead as we expand our portfolio and contribute to a sustainable future with nation energy transition.&rdquo;
Mahindra Susten was established in 2010 as one of the earliest players in India&rsquo;s renewable power solutions sector. As the clean-tech arm of the Mahindra Group, the company has developed over 1.5 GWp of renewable assets as an IPP (Independent Power Producer, and successfully executed over 4.2 GWp of renewable projects as an EPC in India and across the globe. Mahindra Susten is currently developing over 1.4 GWp of projects as an IPP.
About&nbsp;WAAREE&nbsp;Energies&nbsp;Ltd.&nbsp;
Waaree Energies Limited, the flagship company of the Waaree Group, was founded in 1990. It is one of the largest vertically integrated new energy solution providers and is India&rsquo;s largest solar module manufacturer with a capacity of 12 GW per year as of June 30, 2023. With a legacy of over 33 years, Waaree Energies is a leader in providing one-stop solar solutions. Waaree has four state-of-the-art solar module manufacturing facilities with international presence. Making the earth a better place, every day.
For more information, visit <a href="https://www.waaree.com/">Waaree.com &nbsp;</a>&nbsp;
&nbsp;About Mahindra Susten
Mahindra Susten is Mahindra Group&rsquo;s renewable energy platform, Mahindra Susten is recognised as a leading IPP with core focus on innovation and sustainability in the renewable energy sector. Our comprehensive portfolio spans an impressive Engineering, Procurement, and Construction (EPC) experience, with over 4 GWp capacity constructed, alongside a flourishing independent power producer (IPP) business boasting in excess of 1.5 GWp of developed renewable power &nbsp;plants, complemented by over 1.4 GWp in the developmen pipeline across India's diverse states. Our strategic vision encompasses a formidable pipeline of renewable projects, aimed at revolutionizing the energy landscape.
To know more about us, we invite you to visit <a href="http://www.mahindrasusten.com/">www.mahindrasusten.com</a>.
Disclaimer: 
&nbsp;Waaree Energies Limited (the &ldquo;Company&rdquo;) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (&ldquo;DRHP&rdquo;) with the Securities and Exchange Board of India (&ldquo;SEBI&rdquo;). The DRHP is available on the websites of the Company at www.waaree.com, SEBI at www.sebi.gov.in, the book running lead managers Axis Capital Limited, IIFL Securities Limited, Intensive Fiscal Services Private Limited, ITI Capital Limited, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited and SBI Capital Markets Limited, at www.axiscapital.co.in, www.iiflcap.com, www.intensivefiscal.com, www.iticapital.in, www.jefferies.com, www.nomuraholdings.com/company/group/asia/india/index.html, and www.sbicaps.com respectively, of the National Stock Exchange of India Limited at www.nseindia.com and of the BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP which may be filed with the Registrar of Companies, Maharashtra at Mumbai, in future including the section titled &ldquo;Risk Factors&rdquo;. Potential investors should not rely on the DRHP filed with SEBI in making any investment decision.
&nbsp;This press release does not constitute an invitation or offer of securities for sale in any jurisdiction. The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) within the United States to &ldquo;qualified institutional buyers&rdquo; (as defined in Rule 144A under the U.S. Securities Act), pursuant to Section 4(a)(2) of the U.S. Securities Act. There will be no offering of securities in the United States.
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Adfactors PR
Brinda Mehta
Mob: +91 98204 91758
Email:<a href="mailto:brinda.mehta@adfactorspr.com">brinda.mehta@adfactorspr.com</a>
Abhishek Dutta
Mob: +91 7044342299
Email: <a href="mailto:abhishek.dutta@adfactorspr.com">abhishek.dutta@adfactorspr.com</a>
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L-R Mr. Puneet Sood, Mr. Pramod Kalyanshetti,  Mr. Sunil Rathi, Mr. Sandesh Shetty, Mr. Anuj Daftari (1).jpg

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Waaree Energies Limited signs contract with Mahindra Susten to supply 280 MW solar modules 

Waaree Energies Limited obtains BIS Certification for TopCon Modules
21, February 2023: Waaree Energies Limited (the &ldquo;Company&rdquo;), India's largest manufacturer of solar PV modules with the largest aggregate installed capacity of 12 GW, as of June 30, 2023 (Source: CRISIL Report), [has the obtained from the Bureau of Indian Standards (BIS) certification for Topcon Modules, specifically glass to back sheet, with a of up to 625Wp. The certification falls under the category of "Crystalline Silicon Terrestrial Photovoltaic (PV) Modules (Si wafer based)."
This certification positions the Company at the forefront of innovation in manufacturing of solar [power solutions]. With an adherence to stringent quality standards, the Company aims to deliver highly reliable solar solutions incorporating latest available technologies. The BIS certification can serve as a differentiator in an increasingly competitive global renewable energy landscape, substantiating the credibility to the Company&rsquo;s products, and help in enhancing the Company&rsquo;s standing across domestic and global solar [power solutions] markets.
Commenting on this achievement, Mr. Hitesh Chimanlal Doshi, Chairman and Managing Director at Waaree Energies Limited said: "Securing the BIS certification for our TopCon modules is a momentous accomplishment for us at Waaree. It reflects our commitment to pioneering solar innovation and setting new benchmarks in the industry. We believe that this certification can bolster Waaree&rsquo;s contribution in driving the clean energy transition, in India and across the globe. We are excited by the possibilities that this opens up in terms of enhancing our capabilities to deliver sustainable energy solutions."
About Waaree Energies Ltd
Waaree Energies, the flagship company of the Waaree Group, was founded in 1989. It is one of the largest vertically integrated new energy solution providers and is India&rsquo;s largest solar module manufacturer with a capacity of 12 GW per year as of June 30, 2023. With a legacy of over 33 years, Waaree Energies is a leader in providing one-stop solar solutions. Waaree has four state-of-the-art solar module manufacturing facilities with international presence. Making the earth a better place, every day. For more information, visit Waaree.com.
Waaree Energies Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a public issue of its equity shares in the near future and is in the process of filing a draft red herring prospectus with the Securities and Exchange Board of India. This announcement is not an offer for sale of securities in the United States. The equity shares of the Company may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.
For further information, please contact:
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Adfactors PR
Brinda Mehta
Mob: +91 98204 91758
Email: <a href="mailto:brinda.mehta@adfactorspr.com">brinda.mehta@adfactorspr.com</a>
Abhishek Dutta
Mob: +91 7044342299
Email: <a href="mailto:abhishek.dutta@adfactorspr.com">abhishek.dutta@adfactorspr.com</a>
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&nbsp;Disclaimer: 
Waaree Energies Limited (the &ldquo;Company&rdquo;) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (&ldquo;DRHP&rdquo;) with the Securities and Exchange Board of India (&ldquo;SEBI&rdquo;). The DRHP is available on the websites of the Company at www.waaree.com, SEBI at www.sebi.gov.in, the book running lead managers Axis Capital Limited, IIFL Securities Limited, Intensive Fiscal Services Private Limited, ITI Capital Limited, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited and SBI Capital Markets Limited, at www.axiscapital.co.in, www.iiflcap.com, <a href="http://www.intensivefiscal.com">www.intensivefiscal.com</a>, <a href="http://www.iticapital.in">www.iticapital.in</a>, www.jefferies.com, <a href="http://www.nomuraholdings.com/company/group/asia/india/index.html">www.nomuraholdings.com/company/group/asia/india/index.html</a>, and www.sbicaps.com respectively, of the National Stock Exchange of India Limited at www.nseindia.com and of the BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP which may be filed with the Registrar of Companies, Maharashtra at Mumbai, in future including the section titled &ldquo;Risk Factors&rdquo;. Potential investors should not rely on the DRHP filed with SEBI in making any investment decision.
This press release does not constitute an invitation or offer of securities for sale in any jurisdiction. The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) within the United States to &ldquo;qualified institutional buyers&rdquo; (as defined in Rule 144A under the U.S. Securities Act), pursuant to Section 4(a) of the U.S. Securities Act. There will be no offering of securities in the United States.
&nbsp;

Waaree Energies Limited obtains BIS Certification for TopCon Modules

National, 12th October 2023 - 
Waaree Energies Ltd., a leading player in the solar energy sector, has conducted a unique Tree Plantation Drive - a proactive initiative aimed at enhancing environmental sustainability and increasing the green cover in Gujarat.

&nbsp;

Waaree’s plantation drive ensured that each tree is associated with the name of a specific employee, adding a personal touch to the initiative. This unique activity not only demonstrates the company’s commitment to mitigating its environmental impact, but also encourages employees to actively participate in fostering a greener planet. Over 2300 trees were planted as part of this two Trees-One Employee system. Last year, a similar drive witnessed over 1000 trees planted by the company. Through these consistent efforts, Waaree Energies Ltd. is committed to making a positive impact on the environment that aligns with its overall objective to promote renewable energy and sustainable practices.

&nbsp;

This Two Trees - One Employee policy by Waaree is representative of the ceaseless dedication of each and every team-member towards the cause of environmental preservation. Their contribution goes beyond merely planting trees to being involved in their long-term care. By engaging employees in the process of tree planting and nurturing, the company hopes to foster a sense of responsibility towards the environment and encourage sustainable practices in their personal lives as well. This unique initiative demonstrates the company’s dedication to mitigating its environmental impact. The Plantation Drive was initiated by Mr Hitesh Doshi, Chairman & Managing Director, Waaree Energies Ltd, in Gujarat, demonstrating the commitment of the organisation’s leadership towards creating a greener and more sustainable ecosystem. Waaree Energies Ltd. has set up factories namely Tumb, Chikhli and Nandigram in Gujarat through which they work towards constant innovation and catering to the requirements of the supply chain, along with addressing environmental concerns, spreading the green cover. 

&nbsp;

“Our Tree Plantation initiative not only aligns with Waaree’s core values, but also contributes to the fulfilment of our broader sustainability goals. We believe that every individual has a role to play in preserving our environment, and this initiative reflects our commitment to environmental stewardship, By planting trees under the names of our employees, we aim to create a personal connection between our team members and the environment.” said Mr Hitesh Doshi, Chairman & Managing Director, of Waaree Energies Ltd.

&nbsp;

About Waaree Energies Limited:

WAAREE Energies Ltd., the flagship company of the WAAREE Group, was founded in 1989. It is one of the largest vertically integrated new energy solution provider and is India’s largest solar module manufacturer with a capacity of 12 GW.

&nbsp;

With a legacy of over 33 years, WAAREE Energies is a leader in providing one-stop solar solutions. WAAREE has four state-of-the-art solar module manufacturing facilities and has a presence in over 388+ locations nationally and 20 countries internationally. Making the Earth a better place, every day. Since its Inception, WAAREE has supplied solar panels equivalent to planting approx. 36 crore trees and contributed to the reduction of approx. 75 lakh tons of CO2 emissions.

&nbsp;

For further information, please contact: 

<h5>Adfactors PR</h5>
 <ol>
 <li>
 Brinda Mehta
 <h6>Mob: <a href="tel:+919820491758">+91 98204 91758</a></h6>
 <h6>Email: <a href="mailto:brinda.mehta@adfactorspr.com">brinda.mehta@adfactorspr.com</a></h6>
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 Ancy Raj
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Waaree Energies Ltd. conducts a Unique Tree Plantation Drive to Promote Environmental Sustainability

National, 27th October 2023- 
Enerparc Energy Pvt. Ltd, recognized as the global leader in 
solar power, has commissioned a 3.8 MW solar power project, with the prowess of Waaree Energies Ltd, from January 2023 to October 2023. This project has been executed across 
various locations in India.

&nbsp;

 
Mr. S Nataraj VP – Supply chain and Projects, Enerparc Energy Pvt. Ltd. said, “Waaree’s high-quality solar modules are renowned in the industry for their reliability and effectiveness, making them the ideal module supplier for this project. It was a pleasure to work with the team at Waaree, and we look forward to further avenues of collaboration in the future.” 

&nbsp; 
 
Speaking on the occasion, Mr. Sunil Rathi, Director of Sales & Marketing, Waaree Energies Ltd., said “It has been an honour for us at Waaree to work with Enerparc on this significant undertaking. Sustainable and cost-effective energy generation is the need of the hour in 
India, and this project provided us with a stellar opportunity to contribute to the country’s green energy transition, with our high-quality, state-of-the-art solar modules.” 
 
 
<stong> About Enerparc Energy Pvt. Ltd. 

Enerparc is recognized as the global leader in solar power worldwide. It provides unmatched services in project development, engineering, procurement, construction and operations & maintenance. We are also known for our world-class quality, execution capabilities, technical 
expertise, and delivering the best solution for every customer. Enerparc continues to evolve by embracing state-of-the-art technologies and empowering organizations with a clean, sustainable, cost-effective form of energy. 
 
 &nbsp;

For further information, please contact: 

<h5>Adfactors PR</h5>
 <ol>
 <li>
 Brinda Mehta
 <h6>Mob: <a href="tel:+919820491758">+91 98204 91758</a></h6>
 <h6>Email: <a href="mailto:brinda.mehta@adfactorspr.com">brinda.mehta@adfactorspr.com</a></h6>
 </li>
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 Hafira Patel 
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Enerparc Energy Pvt Ltd commissions 3.8 MW solar project with the prowess of Waaree Energies Ltd.

The company has been awarded both the 'REI Company of the Year' and the 'REI Jury Recognition Leadership in Solar Manufacturing' Awards.

&nbsp;


 National, October 12th , 2023: 
Waaree Energies Ltd., a leading player in the renewable energy sector, has received the 'REI Company of the Year' and 'REI Jury Recognition Leadership in Solar Manufacturing' awards at the 16th Edition of REI Expo. Mr. Hitesh Doshi, Chairman & Managing Director, Waaree Group, was presented with the accolades at a ceremony held during the Expo. These awards recognizes Waaree Energies Ltd.'s exceptional leadership in renewable energy, underscoring the significant contribution it has made to India’s green energy independence as the country’s leading solar energy company.

&nbsp;

The Renewable Energy India (REI) Expo, Asia's foremost B2B event dedicated to the renewable energy sector, brings together a wide array of segments including solar energy, wind energy, bioenergy, energy storage, electric vehicles, and charging infrastructure. This year, it drew an estimated participation of over 700 exhibitors and 40,000 trade visitors, along with distinguished policymakers, decision-makers, technical experts, and professionals. Waaree Energies Ltd. showcased its innovative lightweight flexible solar panel at the event.

&nbsp;

With a 12 GW solar manufacturing capacity, the largest in the world outside China, Waaree Energies Ltd. is well-positioned to be a significant contributor to the national mission of building 450 GW of renewable energy capacity by 2030. The company consistently delivers high-quality solar energy solutions across the length and breadth of the country, enabling India to harness renewable energy sources effectively, reduce its carbon footprint, and assert its leadership in the domain of sustainable energy on the global stage.

&nbsp;

Commenting on the accolades, Mr. Hitesh Doshi, Chairman & Managing Director, Waaree Group, said, “I would like to express my deepest gratitude to the jury of the REI Awards for honoring Waaree Energies Ltd. with the 'REI Company of the Year' and 'REI Jury Recognition Leadership in Solar Manufacturing' awards. These accolades are a testament to the tireless efforts of our entire team in driving the clean energy transition in India and across the globe, with industry-leading new energy solutions. India aims to achieve Net Zero by 2070, and indigenous solar manufacturing will be critical to ensuring the success of this endeavour. Equipped with the largest solar manufacturing capacity in the world outside China, we at Waaree are uniquely positioned to contribute to India’s energy independence."
 


&nbsp;

Waaree Energies Ltd. was a commanding presence at the REI Expo this year. The company's booth at the Expo received the honor of inauguration by Mr. Dan Shugar, Founder & CEO of NEXTracker, a global leader in solar-tracker solutions. Over the course of the three-day event, the company showcased an extensive range of advanced products , including their flagship offering—the 715 Wp dual-glass bifacial module based on n-type heterojunction (HJT) M12 solar cells. The company also showcased its innovative lightweight flexible solar panel alongwith several other products during the exhibition.

6.Waaree Energies Ltd. Bags Top REI Honors at the16th REI Expo Awards.jpg

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Waaree Energies Ltd. Bags Top REI Honors at the16th REI Expo Awards

National, 06th October 2023: 

Waaree Group, a leading solar energy solutions provider, is a key participant at this year’s Renewable Energy India (REI) Expo 2023. This expo is being hosted at the India Expo Centre in Greater Noida. The company’s presence at the prestigious event commenced with the inauguration of the company’s booth by Mr. Hitesh Doshi, Chairman and Managing Director of Waaree Group, and renowned renewable energy industry leader, Mr. Dan Shugar, Founder and CEO of Nextracker. 

&nbsp;

The Renewable Energy India (REI) Expo, Asia's premier B2B event for the renewable energy sector, unites various industry segments, including solar energy, wind energy, bioenergy, energy storage, electric vehicles, and charging infrastructure. Over 15 years, it has served as a pivotal platform for solar panel manufacturers to showcase cutting-edge products and solutions, facilitating interactions with industry leaders, potential customers, and prospective partners.

&nbsp;

During the inauguration of Waaree Group's booth, Mr. Dan Shugar took center stage, sharing his perspective on the critical need for collaboration and innovation in the renewable energy sphere. He also highlighted the essential collective endeavors required by the sector to drive the clean energy transition and pave the way toward achieving Net Zero emissions.

&nbsp;

At the Expo, Waaree Group is presenting a prominent presence for all three days through three dedicated booths representing its subsidiary entities: Waaree Energies Ltd., Waaree Renewable Technologies Ltd., and Waaree ESS, covering a substantial booth area. These booths showcase an extensive range of advanced products, including their flagship offering—the 715 Wp dual-glass bifacial module based on n-type heterojunction (HJT) M12 solar cells. The modules are available in power ratings ranging from 685 W to 715 W with an efficiency of up to 22.88%. Additionally, they also feature an impressive Static and Dynamic Mechanical Load Test Machine.

&nbsp;

Commenting on the booth's inauguration, Mr. Hitesh Doshi, Chairman & Managing Director of Waaree Group, expressed his heartfelt gratitude, stating, “We extend our sincere appreciation to Mr. Dan Shugar, Founder and CEO of Nextracker, for inaugurating our booths at the Renewable Energy India (REI) 2023. This expo provides a dynamic platform for Waaree to showcase its substantial contributions to the global shift toward clean and sustainable energy sources, bringing the best technology to end consumers. This event allows us to highlight our industry-leading innovations in new energy solutions, all proudly manufactured in India, and establish strategic partnerships that closely align with our mission to lead India and the world toward a Net Zero future, thus increasing the market of renewable energy in India and enhancing the energy independence of our nation."

&nbsp;

About Waaree Energies Ltd.

WAAREE Energies Ltd., the flagship company of the WAAREE Group, was founded in 1989. It is one of the largest vertically integrated new energy solution providers and is India’s largest solar module manufacturer with a capacity of 12 GW.

&nbsp;

With a legacy of over 33 years, WAAREE Energies is a leader in providing one-stop solar solutions. WAAREE has four state-of-the-art solar module manufacturing facilities and has a presence in over 388+ locations nationally and 20 countries internationally - making the Earth a better place every day. Since its inception, WAAREE has supplied solar panels equivalent to planting approx. 36 crore trees and contributed to the reduction of approx. 75 lakh tons of CO2 emissions.

Waaree Group's Next Generation 715 Wp Module Takes Center Stage at REI Expo 2023, Inaugurated by Nextracker Founder Dan Shugar

Accolade recognises Waaree Group's outstanding dedication to HR excellence.

&nbsp;


 Ahmedabad, September 21, 2023 – 
Waaree Group, one of the leading player in the solar energy sector, has been bestowed with the prestigious "GUJARAT Best Employer Brand Awards 2023." This distinguished accolade pays tribute to organizations, leaders, and teams that have exhibited remarkable resilience, innovation and prowess, particularly in the face of the formidable challenges posed by the global pandemic.

&nbsp;

In accordance with the criteria and perspectives mentioned above, Waaree Group was bestowed with the prestigious award by the distinguished World Federation of HR Professionals, on September 8th, 2023, at a ceremony held in Ahmedabad. The recognition stands testament to organization's steadfast dedication to excellence in human resources development.

&nbsp;

The GUJARAT Best Employer Brand Awards 2023 recognizes the leading organizations in Gujarat that excel in HR and effectively utilize marketing and communication for human resources development. The award seeks to honour exceptional organizations and individuals who have made remarkable contributions even in the face of survival challenges, exemplifying the spirit of ‘evolution’. The primary objective of these awards is to highlight best practices for emulation, measure their impact on productivity and organizational value, and foster creative solutions to enhance work environments, boost morale, and increase overall organizational value. These awards seek to instil a legacy-driven mind-set that facilitates transformative change within organizations. 

&nbsp;

The selection process evaluates key criteria and parameters, including the seamless integration of vision into HR strategy, alignment of HR strategy with business transformation, nurturing of future-ready competencies, effective talent management and development, innovative recruitment strategies, employee benefits, recognition efforts, diversity and inclusion initiatives, women's empowerment programs, promotion of health and wellness in the workplace, and commitment to Corporate Social Responsibility (CSR) endeavours.

&nbsp;

About the World Federation of HR Professionals

The World Federation of HR Professionals is a global organization that recognizes and promotes excellence in human resources practices worldwide. The federation provides certifications and awards to organizations and professionals that demonstrate outstanding achievements in the field of HR and people management.

&nbsp;

About Waaree Group :

Waaree Group is one of the leading player in the solar energy sector, driven by a steadfast commitment to shaping a sustainable future. With a legacy spanning several decades, Waaree has emerged as a global leader in solar energy solutions, offering a wide range of products including solar panels, solar water pumps, rooftop solar installations, and more. Anchored by values of innovation and quality, Waaree Group remains at the forefront of advancements in the renewable energy industry while also exploring new dimensions for sustainable living.


&nbsp;

For further information, please contact: 

<h5>Adfactors PR</h5>
 <ol>
 <li>
 Brinda Mehta
 <h6>Mob: <a href="tel:+919820491758">+91 98204 91758</a></h6>
 <h6>Email: <a href="mailto:brinda.mehta@adfactorspr.com">brinda.mehta@adfactorspr.com</a></h6>
 </li>
 <li>
 Hafira Patel
 <h6>Mob: <a href="tel:+919769927191">+91 97699 27191</a></h6>
 <h6>Email: <a href="mailto:hafira.patel@adfactorspr.com">hafira.patel@adfactorspr.com</a></h6>
 </li>
 </ol>

Waaree Group Receives Prestigious "GUJARAT Best Employer Brand Awards 2023"

National, 15th September 2023: 
Waaree Group, a leader in the solar energy sector, has proudly announced an exciting new milestone in its ongoing journey of growth and success. Reflecting its commitment to fostering a culture of unity and shared achievement that recognises the invaluable contributions of each and every team-member, the company has granted one-time bonus to all of its eligible employees, irrespective of designation. The one-time bonus have been granted to team members who joined the company on or before April 1st, 2022, and continued to be part of its journey throughout the entire financial year, concluding on 31st March, 2023.

&nbsp;

This inclusive approach exemplifies the company's ethos that every individual - from office assistants to directors - has played an integral role in the collective success of the organisation in the solar energy space.

&nbsp;

Waaree’s exceptional performance, at a time when market uncertainties across sectors have adversely impacted many organisations and their employees, is a testament to the capabilities it has evolved over the past 16 years, that enables it to effectively adapt to a VUCA world.

&nbsp;

Commenting on the initiative, Mr. Hitesh Mehta, Director & CFO at Waaree Group said, “We're immensely proud of Waaree Group's incredible journey, a feat made possible by the unwavering dedication and the hard work of every team member. It's our team's resilience and unwavering commitment that has driven us forward. Looking ahead, we're resolute in nurturing a culture of unity, innovation, and shared success, solidifying our position in the energy sector and beyond."

&nbsp;

This employee-centric initiative extends across all Waaree Group subsidiaries, reinforcing the sense of unity that threads through the diverse businesses within the group. With a trajectory marked by innovation and resilience, the company eagerly looks ahead to exploring new avenues and capitalising on emerging opportunities in the energy sector.

&nbsp;

Waaree Group has long placed a significant emphasis on employee welfare, most notably during the COVID-19 pandemic. As the company continues its pursuit of excellence, it remains dedicated to fostering an environment where employees feel valued, inspired, and motivated to contribute their best. The company's remarkable growth story is a testament to its team's exceptional commitment and the unrelenting spirit that defines the Waaree culture.

Waaree Group Celebrates Exceptional Growth Grants One-Time Bonuses to 100% of Employees

~Provides essential school kits to more than 1800 underprivileged children in Chikhli, Tumb, and Nandigram~

&nbsp;


 National, 31st August 2023 –
Waaree Group, one of the leading player in the solar energy sector, reaffirmed its long-standing commitment to uplifting communities through an impactful Corporate Social Responsibility (CSR) endeavour. In terms of the ongoing efforts for CSR, the company has successfully distributed 1800 bags and 10,800 books to students of 14 government schools. Beyond the provision of these essential supplies, Waaree Group aims to inspire and encourage these young minds to embrace the transformative power of education and achieve their aspirations.

&nbsp;

Education is a potent tool that can break the cycle of poverty and unlock fresh opportunities for the youth of India. By providing students with access to these vital school supplies, Waaree seeks to be an enabler of these students’ academic careers, while alleviating the financial strain on their families.

&nbsp;

Waaree group’s dedicated CSR team embarked on a purposeful journey, spanning Chikli, Tumbh and Nandigram. Through engagement with these government schools, this initiative has made a positive impact on the lives of thousands of children over the past few years.

&nbsp;

By nurturing dreams and providing essential resources, Waaree Group is not only bringing solar energy to homes, but also lighting the path towards a brighter future for young students.

&nbsp;

About Waaree Energies

WAAREE Energies Ltd., the flagship company of the WAAREE Group, was founded in 1989. It is one of the largest vertically integrated new energy solution provider and is India’s largest solar module manufacturer with a capacity of 12 GW.


&nbsp;

With a legacy of over 33 years, WAAREE Energies is a leader in providing one-stop solar solutions. WAAREE has four state-of-the-art solar module manufacturing facilities and has a presence in over 388+ locations nationally and 20 countries internationally. Making the Earth a better place, everyday. Since its Inception, WAAREE has supplied solar panels equivalent to planting approx. 36 crore trees and contributed to the reduction of approx. 75 lakh tons of CO2 emissions.

&nbsp;

For further information, please contact: 

<h5>Adfactors PR</h5>
 <ol>
 <li>
 Brinda Mehta
 <h6>Mob: <a href="tel:+919820491758">+91 98204 91758</a></h6>
 <h6>Email: <a href="mailto:brinda.mehta@adfactorspr.com">brinda.mehta@adfactorspr.com</a></h6>
 </li>
 <li>
 Hafira Patel
 <h6>Mob: <a href="tel:+919769927191">+91 97699 27191</a></h6>
 <h6>Email: <a href="mailto:hafira.patel@adfactorspr.com">hafira.patel@adfactorspr.com</a></h6>
 </li>
 </ol>

5. Waaree Group’s CSR Initiative Supports.jpeg

large_5. Waaree Group’s CSR Initiative Supports.jpeg

medium_5. Waaree Group’s CSR Initiative Supports.jpeg

small_5. Waaree Group’s CSR Initiative Supports.jpeg

thumbnail_5. Waaree Group’s CSR Initiative Supports.jpeg

Waaree Group’s CSR Initiative Supports 1800 Student’s Education In The Interest Of Empowering Youth

National, 7th August 2023: 
Waaree Energies Limited (WEL), a renowned player in the solar energy sector, is excited to announce its upcoming Freedom Sale on August 15 and 16, hosted exclusively on <a href="https://shop.waaree.com"> Waaree Online Store </a>. This sales event is aimed at empowering consumers to embrace solar power and contribute to a greener, more sustainable future. 

&nbsp;

The upcoming Freedom Sale follows on from the success of the company’s previous Waaree Store sale, held in October last year. Waaree Store, the only e-commerce marketplace for all solar products manufactured by Waaree Energies Ltd., offers a wide range of premium solar products, including solar panels, inverters, batteries, kits ,pump and installation assistance for rooftop installations.

&nbsp;

By participating in the Freedom Sale, customers can avail themselves of exclusive discounts of up to 30%, and offers, on Waaree’s high-quality solar solutions, making this the perfect time to invest in clean and sustainable energy alternatives. One of the major advantages of shopping at Waaree Online Store is that anyone can order online, and all products are directly shipped from the factory. This ensures that customers receive genuine products with the latest manufacturing dates, guaranteeing the highest quality and performance.

&nbsp;

Customers can embrace the convenience of ordering top-notch solar products from Waaree's online marketplace and benefit from swift delivery right to their doorstep. The company takes pride in guaranteeing the utmost customer satisfaction by providing free replacements for any item damaged during transit and ensuring that there is no compromise with quality and durability. Customers can also access a team of dedicated professionals who will be available to address any queries and assist in selecting the most suitable solar products for their requirements.

&nbsp;

Expressing his enthusiasm for the upcoming event, Mr. Hitesh Doshi, Chairman & Managing Director at Waaree Energies Limited said, “Our vision at Waaree Energies has always been to pave the way for a solar-reliant India. We are delighted to celebrate India's Independence Day by offering our customers a unique opportunity to contribute to the nation's progress while embracing a green lifestyle. Solar energy is not only cost-effective but also environmentally friendly, and this sale is our way of making these products more affordable for everyone.”

&nbsp;

Amidst rising global concerns about the pressing need for environmental conservation, and the urgency to combat climate change, solar energy stands as a beacon of hope. By effectively harnessing India’s abundant supply of sunlight, the country can reduce its carbon footprint, decrease dependence on non-renewable energy sources, and ensure a sustainable future for generations to come. 

&nbsp;

About Waaree Energies Ltd. 

Waaree Energies Ltd. is the flagship company of Waaree Group, founded in 1989 with headquarters in Mumbai, India. Waaree Energy is a vertically integrated new energy company. It has Solar panel manufacturing capacity of 12 GW at its plants in Chikhli, Surat and Umbergaon in Gujarat and has presence in EPC Services, Project Development, Solar Rooftop Solutions, Solar Inverter, and Solar Water Pumps. It is also an Independent Power Producer. Waaree has a presence over multiple locations nationally through its franchisees and 20 countries internationally as of June 30, 2023. Waaree has supplied 6+GW of solar modules and commissioned 1+ GW of solar EPC projects.

Unleashing Solar/energy Independence: Waaree's Freedom Sale Powers India's Sustainable Future

National, 2nd August 2023: 
Waaree Energies Limited (WEL), a renowned player in the solar energy
sector and contributing towards the transition to green and clean energy, has successfully raised
a round of equity funding, amounting to approximately INR 1000 crore. The investment round
was led by ValueQuest, an investment firm known for its strategic focus on sustainable and
progressive ventures.

&nbsp;

Waaree Energies Ltd. had earlier raised a primary round of ~INR 1040 crore from a clutch of
investors including family offices, HNIs etc.

&nbsp;

The current round of funding will be utilized for another 6 GW of capacity expansion, in addition
to the existing capacity of 12 GW. The additional 6 GW capacity is intended for the manufacturing
of solar ingots and wafers, cells and modules. This equity investment is in addition to the PLI
Tranche II of INR 1,923 Cr awarded by the Government of India.

&nbsp;

The company also plans for backward integration in the manufacturing of solar cells with a
capacity of 5.4 GW. Within the next 2 years, Waaree Energies Ltd. will have 20 GW of Module
capacity, 11.4 GW Cell and 6GW Wafers manufacturing capacity. This expansion plan will further
consolidate Waaree’s position as world’s largest solar module manufacturer outside China.

&nbsp;

Waaree Energies Limited's long-standing association with ValueQuest has been instrumental in
advancing its mission to provide clean and sustainable energy solutions globally. The
collaboration has enabled the company to deliver solar products, strengthen its manufacturing
capabilities and enhance its customer-centric approach.

&nbsp;

The latest funding round is a testament to the resilience and potential of Waaree Energies Limited
as a participant in the renewable energy market. The company remains dedicated to upholding
its core values of excellence, sustainability, and customer satisfaction, as it continues to lead the
way towards a greener and more environmentally responsible future.

&nbsp;

 Mr. Hitesh Doshi, Chairman & Managing Director at Waaree Energies Limited said, “This
strategic investment reinforces our vision for a sustainable future and our commitment to
revolutionizing the solar energy landscape. This funding, we believe will assist in our growth,
expand our market presence, and drive positive change in the renewable energy transition. We
appreciate the ongoing support from ValueQuest."

&nbsp;

Expressing his optimism in the opportunity Ravi Dharamshi, CIO & MD of ValueQuest mentioned
that “Megatrends are transformational and not incremental, with far reaching and
disproportionate impact. Waaree Energies Ltd is benefitting from twin megatrends of Energy
Transition and the Supply Chain Shift away from China.”

&nbsp;

About Waaree Energies Ltd. 

Waaree Energies Ltd. is the flagship company of Waaree Group, founded in 1989 with
headquarters in Mumbai, India. Waaree Energy is a vertically integrated new energy company. It
has Solar panel manufacturing capacity of 12 GW at its plants in Chikhli, Surat and Umbergaon in
Gujarat and has presence in EPC Services, Project Development, Solar Rooftop Solutions, Solar
Inverter, and Solar Water Pumps. It is also an Independent Power Producer. Waaree has a
presence over multiple locations nationally through its franchisees and 20 countries
internationally as of June 30, 2023. Waaree has supplied 6+GW of solar modules and
commissioned 1+ GW of solar EPC projects.


&nbsp;

About Waaree Energies Ltd. 

ValueQuest is an investment firm that specializes in identifying and supporting businesses with
long-term growth potential. The firm's investment strategy revolves around backing sustainable
and innovative ventures across various industries, with a keen focus on environmental, social,
and governance (ESG) factors.

Waaree Energies Limited Raises ~INR 1000 Crore in Second Round of Equity Funding Led by ValueQuest

Solar Power Project for UPC Renewable's Masaya project to generate 349 MU annually, and reduce CO2 emissions by 3,73,422 metric tons~ 

&nbsp;

 National, 05th July 2023: 
Waaree Renewable Technologies Ltd. (WRTL), a subsidiary of Waaree Energies Ltd., India’s largest solar panel manufacturer, has announced that it has commissioned 87.5MW/122.5 MWp out of 150 MW/210 MWp EPC solar power project for UPC Renewable Energy Pvt Ltd.’s subsidiary M/s. Masaya Solar Energy Pvt. Ltd. in the Khandwa district of Madhya Pradesh.

&nbsp;

The solar power project is spread across 651 acres of undulated land terrain, with power being evacuated at a 220 kV voltage level and connected at PGCIL 400 kV/220 kV SS through the ISTS (inter-state transmission system) network. A total of 5,08,072 SPV modules, ranging from 335 Wp Polycrystalline to 540 Wp Monocrystalline, with an inverter capacity of 3.125 MW were installed. The PPA (solar power purchase agreement) for the project has been made with the Solar Energy Corporation of India for a period of 25 years.

&nbsp;

Commenting on the project, Mr. Alok Nigam, Country Head, UPC Renewable Energy Pvt Ltd, (holding company of Masaya Solar Energy Pvt. Ltd.,) said “This solar power project is expected to produce 349 MU annually, and will reduce CO2 emissions by 3,73,422 metric tons. Once connected to the grid, the project will fulfil the annual electricity requirements of nearly 278,000 homes in a clean and sustainable manner”.

&nbsp;

Speaking about WRTL’s involvement in the project, Mr. Viren Doshi, Director, Waaree Renewable Technologies Ltd., said “At Waaree, we’ve always focused on contributing to a greener tomorrow by helping increase the number of solar power plants in India. This project with UPC Renewables is our first with ISTS connectivity. In addition to providing EPC solutions, we will also carry out operation & maintenance on the plant for a period of 2 years. We look forward to work closely with UPC Renewables to support this project and help drive the renewable energy revolution in the country”.

&nbsp;

WRTL is one of the leading EPC (Engineering, Procurement & Construction) service providers in the solar energy sector, having installed over 1 GW of solar projects, including on-ground rooftop and utility projects, till date.

&nbsp;

About Waaree Renewable Technologies Ltd (WRTL)


Waaree Renewable Technologies Limited (WRTL) is subsidiary company of Waaree Energies and spearheading the Solar EPC business of Group. WRTL is also a solar developer that finances, constructs, owns and operates solar projects. Headquartered in Mumbai, WRTL operate across geographies, focusing on long-term investments within the commercial and industrial customer segments. Waaree group is a leading renewable energy group that caters Individual, Industrial and Commercial customers by encouraging them to adapt energy solutions that helps in reducing the release of carbon. WRTL provides clean energy to its clients by setting up both on-site solar projects (rooftop and ground-mounted) and off-site solar farms (open access solar plants).

Waaree Renewable Technologies commissioned 122.5 MWp Solar Power Projects to provide electricity to 153125 homes

National, 8th June 2023: 
Waaree Energies Ltd., India’s largest solar panel manufacturer, has been featured in the 9th edition of PVEL’s prestigious annual PV Module Reliability Scorecard. Waaree was recognized as a Top Performer after its products met international quality and performance benchmarks set by PVEL.



&nbsp;

PVEL is an independent testing facility for the solar and energy storage industries. It provides independent testing, engineering and data solutions to mitigate risk and optimize project performance and economics in the sector. The rankings in PVEL’s PV Module Reliability Scorecard are determined by the outcomes of the exhaustive and rigorous lab and field tests conducted as part of its Product Qualification Program (PQP). 


&nbsp;


This recognition as a Top Performer in PVEL’s scorecard, is a testament to Waaree's commitment to the highest standards of quality and reliability while catering to buyers in India and across the globe. Waaree’s dedicated investments in research & development enable the company to bring innovative and cutting-edge products to market that offer greater efficiency and superior performance and value to customers. 

&nbsp;

Speaking about the recognition by PVEL, Mr. Hitesh C Doshi, Chairman and Managing Director, Waaree Group, said, “Waaree has long fostered a culture of excellence focused on meeting the high quality standards of global markets, and this recognition further validates our approach. The results of PVEL’s extended reliability and performance testing has catalyzed the growth of new markets and buyers for Waaree. As India’s largest PV module manufacturer and exporter, we happily share PVEL’s PQP in our conversations with buyers across the globe."

&nbsp;


Commenting on the occasion, Tristan Erion-Lorico, PVEL’s VP of Sales and Marketing, mentioned “PVEL applauds Waaree Energies for being listed as a Top Performer in the 2023 Scorecard. We are pleased to recognize Waaree Energies for demonstrating their commitment to producing reliable modules via their strong results in PVEL's PQP testing. Particularly noteworthy is the Waaree module that achieved Top Performer status in all categories, which is a rare and impressive accomplishment.”

&nbsp;

With a 12 GW manufacturing capacity in India, Waaree has the largest solar module manufacturing capacity in India. The company is the largest exporter of solar modules, and currently exports its products to over 20 countries worldwide. 

&nbsp;

Waaree has a presence in over 380 locations across India and 20 countries internationally. The company recently completed the timely delivery of 50 MW solar modules to a Fortune 500 company in the US. The independent product performance validation by PVEL through the Product Qualification Program (PQP) will further strengthen Waaree’s leadership position and will be instrumental in building even greater customer confidence and driving additional sales growth. 

&nbsp;

About Waaree:


Established in 1989, Waaree Energies Ltd. Is the flagship company of the Waaree Group, with its headquarters situated in Mumbai, India. It is India’s largest solar module manufacturer with a capacity of 12GW. Waaree Energies holds a prominent position in various sectors including Solar Panel Manufacturing, EPC Services, Project Development, Rooftop Solutions, Solar Water Pumps, and Independent Power Production within the Indian market. With a strong presence in over 380 locations nationwide and exports to over 20 countries internationally. Waaree Energies has established itself as a key player in the industry.

Waaree Energies Ltd. Earns Global Recognition as a Top Performer in PVEL’s 2023 PV Module Reliability Scorecard

MUMBAI, India, May 11, 2022 /PRNewswire/ --&nbsp;WAAREE Energies Ltd., one of India's leading solar PV panel manufacturer, is recognized as the best exporter of the year, for FY 2021-22. The award ceremony was organised by the office of the development commissioner, and evaluated by The SURSEZ unit holders Association.
WAAREE currently manufactures high efficiency, premium quality solar modules with capacity upto 660Wp, in Mono, Cutcell, Bifacial and HJT cells. WAAREE Solar modules are exported in more than 19 countries. With numerous tests performed at various stages of manufacturing, WAAREE maintains its quality at par with global standards. WAAREE has maintained its position as a Tier-1 module manufacturer by Bloomberg New Energy Finance for the last four years. WAAREE's module manufacturing facility, houses IEC-CB-CTF, a laboratory for reliability testing and certification.
WAAREE has also been recognised as the India's greatest brand by Asiaone, and the Best brand by Economic times. WAAREE believes that it will be able to bridge the ever growing demand - supply gap of electricity, by making solar accessible to all and inch towards a viable indigenous ecosystem.
About WAAREE Energies
WAAREE Energies Ltd. is India's one of the leading Solar PV Module manufacturer. In addition, it provides EPC services, project development, rooftop solutions and solar water pumps. WAAREE has its presence in over 388+ locations nationally and 19 countries globally.
Disclaimer: WAAREE Energies Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus ("DRHP") with Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of the SEBI at <a href="http://www.sebi.gov.in" rel="nofollow" target="_blank">www.sebi.gov.in</a> as well as on the websites of the book running lead managers, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited and Intensive Fiscal Services Private Limited, respectively, and the websites of the stock exchange(s) at <a href="http://www.nseindia.com" rel="nofollow" target="_blank">www.nseindia.com</a> and <a href="http://www.bseindia.com" rel="nofollow" target="_blank">www.bseindia.com</a>. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.
This announcement is not an offer for sale of securities in the United States. The equity shares of the Company may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.

/PRNewswire/ -- WAAREE Energies Ltd., one of India's leading solar PV panel manufacturer, is recognized as the best exporter of the year, for FY 2021-22. The...

WAAREE emerges as the best exporter of the year

MUMBAI, India, May 4, 2022 /PRNewswire/ --&nbsp;WAAREE Energies Ltd., one of India's leading solar PV panel manufacturer, has completed the timely supply of&nbsp;poly&nbsp;45 MW solar modules to KPI Global Infrastructure limited, one of the prominent solar project developers in Gujarat for their IPP and CPP power projects in Bharuch district. WAAREE has supplied 134,328 number of 335 Wp, poly Solar PV modules for installation.
Despite of challenges in supply chain, WAAREE completed the supply in given Timeline. The modules supplied by WAAREE have undergone quality testing at WAAREE's module manufacturing facility, which houses IEC-CB-CTF, a laboratory for reliability testing and certification.
With numerous tests performed at various stages of manufacturing, WAAREE maintains its quality at par with global standards. WAAREE has maintained its position as a Tier-1 module manufacturer by Bloomberg New Energy Finance for the last four years.
About WAAREE Energies
WAAREE Energies Ltd. is India's one of the leading Solar PV Module manufacturer. In addition, it provides EPC services, project development, rooftop solutions, solar water pumps, and is an Independent Power Producer. WAAREE has its presence in over 388+ locations nationally and 19 countries globally.
Disclaimer: WAAREE Energies Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus ("DRHP") with Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of the SEBI at <a href="https://www.sebi.gov.in/" rel="nofollow" target="_blank">www.sebi.gov.in</a>&nbsp;as well as on the websites of the book running lead managers, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited and Intensive Fiscal Services Private Limited, respectively, and the websites of the stock exchange(s) at <a href="https://www.nseindia.com/" rel="nofollow" target="_blank">www.nseindia.com</a>&nbsp;and <a href="https://www.bseindia.com/" rel="nofollow" target="_blank">www.bseindia.com</a>. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.
This announcement is not an offer for sale of securities in the United States. The equity shares of the Company may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.

/PRNewswire/ -- WAAREE Energies Ltd., one of India's leading solar PV panel manufacturer, has completed the timely supply of poly 45 MW solar modules to KPI...

WAAREE successfully supplies 45MW solar PV modules to KPI global infrastructure

After 140 MW in Gujarat, the company has secured a 180 MW DC solar project in Tamil Nadu. It shall set up the plant on a turnkey basis.

Waaree Renewable Technologies Limited, formerly known as Sangam Renewables Limited, and an arm of <a class="editor-rtfLink" href="https://www.pv-magazine-india.com/2021/07/27/waaree-completes-the-supply-of-300-mw-solar-modules-for-american-project/" target="_blank" rel="noopener" tabindex="0">Waaree Group</a>, today announced it has received a letter of award (LOA) to set up a 180 MW DC solar power plant in the Indian state of Tamil Nadu.The company bagged the turnkey project from an India-focused renewable energy group. Its scope of work includes engineering, procurement, and construction (EPC) of the solar plant.&nbsp;“The works shall be executed subject to receipt of regulatory and other statutory approvals, as may be applicable. The Parties shall in due course negotiate and execute a definitive contract,” stated the company.<a href="https://www.pv-magazine-india.com/2022/01/11/daily-newswrap-waaree-energies-gets-sebi-nod-for-ipo-jharkhand-starts-getting-200-mw-solar-power-from-gujarat/" target="_blank" rel="noopener" tabindex="0">Waaree</a> Renewable’s latest addition follows the award for setting up a 140 MW DC solar power plant in the state of Gujarat. The company bagged the Gujarat project in December last year.

Waaree Renewable awarded 180 MW solar project in Tamil Nadu

Waaree Energies gets Sebi nod to launch Rs 1,500 cr-IPO

MUMBAI, India, Dec. 28, 2021 /PRNewswire/ -- Waaree Energies, India's leading solar PV module manufacturer, has Supplied 335 Wp Poly solar modules for a project developed by&nbsp;Avanti Renewable Energy Private Limited. The size of the project is 1.56 MW located at Survey No- 105/2, Hothragondahalli village, Mathodu Hubbli Kerehalli Post, Chitradurga district - 577533, India. Waaree has supplied 1.56 MW of solar modules for this project. The project has been commissioned on 28th December, 2021. The project was financed by Indian Overseas Bank on non-recourse basis.
WAAREE Energies Ltd is one of India's leading Solar PV Module manufacturer with capacity of 2 GW's at its facilities in Surat, Tumb and Nandigram in Gujarat. Currently, WAAREE has India's largest sales and service network with 388+ franchises across India.
Having multiple global certifications, WAAREE aims to ensure Environmental Safety and Quality measures and performs multiple tests at various manufacturing stages. The vision of WAAREE Energies is to provide quality, cost-effective sustainable energy solutions across markets. It provides EPC services, project development &amp; rooftop solutions.
About WAAREE Energies Ltd: 
WAAREE Energies Ltd. is the flagship company of WAAREE Group, founded in 1989 with headquarters in Mumbai, India. It has Solar PV Module manufacturing capacity of 2 GW at its plants in Gujarat. WAAREE has its presence in over 388 locations nationally through its franchisees.
Disclaimer: Waaree Energies Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus ("DRHP") with Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of the SEBI at <a href="http://www.sebi.gov.in" rel="nofollow" target="_blank">www.sebi.gov.in</a> as well as on the websites of the book running lead managers, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited and Intensive Fiscal Services Private Limited, respectively, and the websites of the stock exchange(s) at <a href="http://www.nseindia.com" rel="nofollow" target="_blank">www.nseindia.com</a> and <a href="http://www.bseindia.com" rel="nofollow" target="_blank">www.bseindia.com</a>. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.
This announcement is not an offer for sale of securities in the United States. The equity shares of the Company may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.

/PRNewswire/ -- Waaree Energies, India's leading solar PV module manufacturer, has Supplied 335 Wp Poly solar modules for a project developed by Avanti...

Waaree supplied 1.56 MW of Solar Modules to Avanti Renewable Energy Private Limited

MUMBAI, India, Dec. 21, 2021 /PRNewswire/ -- Waaree Energies, India's leading solar PV module manufacturer, has Supplied 335 Wp Poly solar modules for a project developed by, DK solar and Ventures Pvt Ltd for M/S Talco Dindigul Tanners Enviro control system pvt. Ltd. The size of the project is 2 MW located at Dindigul, Tamilnadu. Waaree has supplied 2 MW of solar modules for this project. The project has been commissioned in April 2021 &amp; finance for this was taken from Citi Bank on non-Recourse basis.
WAAREE Energies Ltd is one of India's leading Solar PV Module manufacturer with capacity of 2 GW'sat its facilities in Surat, Tumb and Nandigram in Gujarat. Currently WAAREE has India's largest sales and service network with 388+ franchises across India. 
Having multiple global certifications, WAAREE aims to ensure Environmental Safety and Quality measures and performs multiple tests at various manufacturing stages. The vision of WAAREE Energies is to provide quality, cost-effective sustainable energy solutions across markets it provides EPC services, project development &amp; rooftop solutions. 
About&nbsp;WAAREE&nbsp;Energies&nbsp;Ltd:&nbsp;
WAAREE Energies Ltd. is the flagship company of WAAREE Group, founded in 1989 with headquarters in Mumbai, India. It has Solar PV Module manufacturing capacity of 2 GW at its plants in Gujarat. WAAREE has its presence in over 388 locations nationally through its franchisees. 
&nbsp;Disclaimer: Waaree Energies Limited&nbsp;is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus ("DRHP") with Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of the SEBI at&nbsp;<a href="http://www.sebi.gov.in/" rel="nofollow" target="_blank">www.sebi.gov.in</a>&nbsp;as well as on the websites of the book running lead managers, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited,&nbsp;ICICI Securities Limited and Intensive Fiscal Services Private Limited, respectively, and the websites of the stock exchange(s) at <a href="http://www.nseindia.com/" rel="nofollow" target="_blank">www.nseindia.com</a>&nbsp;and <a href="http://www.bseindia.com/" rel="nofollow" target="_blank">www.bseindia.com</a>. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.
This announcement is not an offer for sale of securities in the United States. The equity shares of the Company may not be sold in the United States absent registration or an exemption from registration under the U.S.&nbsp;Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.

/PRNewswire/ -- Waaree Energies, India's leading solar PV module manufacturer, has Supplied 335 Wp Poly solar modules for a project developed by, DK solar and...

Waaree Energies supplies 2 MW solar modules to DK Solar and Ventures Pvt Ltd<

Waaree Energies supplies 2 MW solar modules to DK Solar and Ventures Pvt Ltd

MUMBAI, Dec. 19, 2021 /PRNewswire/ -- WAAREE Energies, India's leading solar PV module manufacturer, has Supplied 390 Wp Mono PERC solar modules for a project developed by, AMP Energy India Pvt Ltd. The size of the project is 2.4 MW located at Kochi Metro Rail Limited, Muttom Depot Choornikkara, Aluva-683501 Kerala. WAAREE has supplied 2.4 MW of solar modules for this prestigious project. The project was commissioned in November 2021 &amp; finance was taken from Tata Cleantech Capital Limited on non-Recourse basis.
WAAREE Energies Ltd is one of India's leading Solar PV Module manufacturer&nbsp;with capacity of 2 GW's at its facilities in Surat, Tumb and Nandigram in Gujarat. Currently WAAREE has India's largest sales and service network with 388+ franchises across India.
Having multiple global certifications, WAAREE aims to ensure Environmental Safety and Quality measures and performs multiple tests at various manufacturing stages. The vision of WAAREE Energies is to&nbsp;provide&nbsp;quality,&nbsp;cost-effective&nbsp;sustainable&nbsp;energy solutions&nbsp;across&nbsp;markets it&nbsp;provides EPC services, project development &amp; rooftop solutions.
About WAAREE Energies Ltd:
WAAREE Energies Ltd. is the flagship company of WAAREE Group, founded in 1989 with headquarters in Mumbai, India. It has&nbsp;Solar PV Module manufacturing capacity of 2 GW at its plants in Gujarat. WAAREE has its presence in over 388 locations nationally through its franchisees.
Disclaimer: WAAREE Energies Limited&nbsp;is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus ("DRHP") with Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of the SEBI at&nbsp;<a href="http://www.sebi.gov.in/" rel="nofollow" target="_blank">www.sebi.gov.in</a>&nbsp;as well as on the websites of the book running lead managers, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited,&nbsp;ICICI Securities Limited and Intensive Fiscal Services Private Limited, respectively, and the websites of the stock exchange(s) at&nbsp;<a href="http://www.nseindia.com/" rel="nofollow" target="_blank">www.nseindia.com</a>&nbsp;and&nbsp;<a href="http://www.bseindia.com/" rel="nofollow" target="_blank">www.bseindia.com</a>. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.
This announcement is not an offer for sale of securities in the United States. The equity shares of the Company may not be sold in the United States absent registration or an exemption from registration under the U.S.&nbsp;Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.
<img alt="" src="https://rt.prnewswire.com/rt.gif?NewsItemId=EN12465&amp;Transmission_Id=202112192330PR_NEWS_EURO_ND__EN12465&amp;DateId=20211219" style="border: 0.0px;width: 1.0px;height: 1.0px;" pinger-seen="true"> SOURCE Waaree Energies Ltd.

/PRNewswire/ -- WAAREE Energies, India's leading solar PV module manufacturer, has Supplied 390 Wp Mono PERC solar modules for a project developed by, AMP...

WAAREE Energies supplied 2.4 MW of Solar Modules to Kochi Metro Rail

MUMBAI, India, Dec. 16, 2021 /PRNewswire/ -- WAAREE Energies, India's leading solar PV module manufacturer, has Supplied 390 Wp Mono PERC solar modules for a project developed by, AMP Energy India Pvt Ltd. The size of the project is 13.5 MW located at Village Gourgaon, Taluka – Kalamb, District Osmanabad, Maharashtra – 413507, India. WAAREE has supplied 13.5 MW of solar modules for this project. The project has been commissioned in November 2021 &amp; finance for this was taken from RESPONSIBILITY on non-Recourse basis.
Having multiple global certifications, WAAREE aims to ensure Environmental Safety and Quality measures and performs multiple tests at various manufacturing stages. Currently WAAREE has India's largest sales and service network with 380+ franchises across India.
WAAREE Energies Ltd is one of India's leading Solar PV Module manufacturer&nbsp;with capacity of 2 GW's at its facilities in Surat, Tumb and Nandigram in Gujarat. The vision of WAAREE Energies is to&nbsp;provide&nbsp;quality,&nbsp;cost-effective&nbsp;sustainable&nbsp;energy solutions&nbsp;across&nbsp;markets. WAAREE&nbsp;provides EPC services, project development and rooftop solutions.
About WAAREE Energies:
WAAREE Energies Ltd. is the flagship company of WAAREE Group, founded in 1989 with headquarters in Mumbai, India. It has&nbsp; Solar PV Module manufacturing capacity of 2 GW at its plants in Gujarat. WAAREE has its presence in over 388 locations nationally through its franchisees.
link:&nbsp;<a href="https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.waaree.com%2F&amp;data=04%7C01%7Cindiaops%40prnewswire.co.in%7C4df2445581f94ab596e608d9bfbc458e%7C887bf9ee3c824b88bcb280d5e169b99b%7C1%7C0%7C637751637619238301%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&amp;sdata=FTVhqprNuWqH7UhryBiTBnE2RT17JaO8w%2FYdqPsFqNc%3D&amp;reserved=0" rel="nofollow" target="_blank">https://www.waaree.com/</a> 
Disclaimer: WAAREE Energies Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus ("DRHP") with Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of the SEBI at <a href="http://www.sebi.gov.in/" rel="nofollow" target="_blank">www.sebi.gov.in</a>&nbsp;as well as on the websites of the book running lead managers, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited and Intensive Fiscal Services Private Limited, respectively, and the websites of the stock exchange(s)at <a href="http://www.nseindia.com/" rel="nofollow" target="_blank">www.nseindia.com</a> and <a href="http://www.bseindia.com/" rel="nofollow" target="_blank">www.bseindia.com</a>. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.
This announcement is not an offer for sale of securities in the United States. The equity shares of the Company may not be sold in the United States absent registration or an exemption from registration under the U.S.&nbsp;Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.

WAAREE Energies supplied 13.5 MW of Solar Modules to AMP

<div class="entry-content"><a href="https://www.pv-magazine-india.com/2021/10/07/ipo-bound-waaree-energies-appoints-ceo/" target="_blank" rel="noopener" tabindex="0">Waaree</a> Renewable Tech, formerly known as Sangam Renewables Limited, and an arm of <a href="https://www.pv-magazine-india.com/2021/07/27/waaree-completes-the-supply-of-300-mw-solar-modules-for-american-project/" target="_blank" rel="noopener" tabindex="0">Waaree Group</a>, has announced that it has received a letter of award (LOA) for setting up a 140 MW DC solar power plant in the state of Gujarat.&nbsp;This is a turnkey project awarded by an India-focused renewable energy group for engineering, procurement, and construction (EPC) works.&nbsp;Once commissioned, this solar plant would produce enough energy to power over 2,10,000 homes, and would offset over 1,02,200 tonnes of carbon, equivalent to planting over 46,45,620 trees, read the company statement.The works shall be executed in accordance with the definitive contract and subject to receipt of regulatory and other statutory approvals, as may be applicable. The Parties shall in due course discuss and execute definitive Contract, the company added.&nbsp;<div class="disclaimer">This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: <a href="mailto:editors@pv-magazine.com" tabindex="0">editors@pv-magazine.com</a>.</div></div>

Waaree Renewable awarded 140 MW DC solar project in Gujarat

<div class="Normal"><img height="450" width="600" class="" style="float:left;margin-right:10px;width:350px;;margin-bottom:5px;" src="https://etimg.etb2bimg.com/photo/86831926.cms" data-src="https://etimg.etb2bimg.com/photo/86831926.cms" captionrendered="1" alt="Vivek Srivastava joins Waaree Energies as chief executive officer" data-init-src="https://st.etb2bimg.com/Themes/Release/images/responsive/etenergyworld-default.jpg">New Delhi: <a href="https://energy.economictimes.indiatimes.com/tag/waaree+energies">Waaree Energies</a>, a solar module manufacturer, on Thursday said it has appointed <a href="https://energy.economictimes.indiatimes.com/tag/vivek+srivastava">Vivek Srivastava</a> as its chief executive officer (CEO) with effect from 30 August, 2021. According to the company press release, Srivastava is currently responsible for setting strategic goals, leading the development of short and long-term goals, and assessing, monitoring and minimising risks to the firm, its subsidiaries and other companies within the group. He was previously associated with Reliance BP Mobility as the senior vice-president. <div data-bucket-limit="1" data-bucket-id="2" data-bucket-design="3" data-bucket-position="in_page" class="in-page-promotions-buckets-featured featured_section_disabled bucket-position-in_page inpromorendered item-inviewport" data-type="in-page-promotions" id="in-page-promotions_in_page_1_86831931" data-ftd-params="design=3&amp;limit=1&amp;entity_type=all&amp;position=in_page&amp;bucket_id=2&amp;rendered_items=0&amp;rendered_items=0" data-ftd-type="in-page-promotions" data-ftd-callback="inPagePromoCallback" data-gtm-vis-recent-on-screen-48466252_67="2603" data-gtm-vis-first-on-screen-48466252_67="2603" data-gtm-vis-total-visible-time-48466252_67="100" data-gtm-vis-has-fired-48466252_67="1"><div class="in-page-promotions-buckets"><div class="add-section">Advertisement</div><div class="featured-promo-section feature-promo-big-authors undefined promo-section combined-promo promo-design-3 promo-after-article"><div class="row"><div class="featured-promo-item featured-promo-element col-md-12 col-sm-12 "><div class="clearfix no-gutter undefined"><div class="row "><div class="col-md-12 col-xs-12"><figure class="avtar avtar-right avtar-right"><a href="https://energy.economictimes.indiatimes.com/leadership-summit2022?ag=InPagePromo_energy&amp;utm_source=b2bInPagePromotions&amp;utm_medium=in_page" data-ga="in_page_promotions,in-page-promotions_in_page_1_86831931,microsite-1046" target="_blank"><img class="" alt="" src="https://img.etb2bimg.com/imgv2/width-300,height-300,resize_mode-4/cpsbranding_logo-1648100087.png" data-src="https://img.etb2bimg.com/imgv2/width-300,height-300,resize_mode-4/cpsbranding_logo-1648100087.png" data-init-src="https://st.etb2bimg.com/Themes/Release/images/responsive/news-energy-default-min.jpg"></a></figure><div class="featured-promo-box"><div class="promo-lead "><a data-ga="in_page_promotions,in-page-promotions_in_page_1_86831931,microsite-1046" href="https://energy.economictimes.indiatimes.com/leadership-summit2022?ag=InPagePromo_energy&amp;utm_source=b2bInPagePromotions&amp;utm_medium=in_page" target="_blank">#ETEnergyLeadership</a></div><h2 class="promo-head"><a data-ga="in_page_promotions,in-page-promotions_in_page_1_86831931,microsite-1046" href="https://energy.economictimes.indiatimes.com/leadership-summit2022?ag=InPagePromo_energy&amp;utm_source=b2bInPagePromotions&amp;utm_medium=in_page" target="_blank">The Economic Times Energy Leadership Summit 2022</a></h2><div class="metaTx ">16 June 2022 @ 09:00 AM </div></div>The event will engage the leaders to help shape the global, regional and local agenda in the energy sector including COP 27, renewable energy, hydrogen, oil &amp; gas, power, coal, clean mobility, digital transformation among others.<div class="slide-container "><div class="user-section authorsection constrained1"><div class="flexslider1 " data-carousel1="{" maxitems":3.9,"itemmargin":5}"=""><div class="custom-navigation hide" style="visibility: visible; height: auto;"> <a href="#" aria-label="Previous" class="flex-prev" style="display: none;"> </a> <a href="#" aria-label="Next" class="flex-next" style="height: 100%; vertical-align: middle; line-height: 48px;"> </a> </div><ul class="slides"><li class="cards tooltip-v2 mintip alreadybound" data-title="<div class='in-page-author-tooltip'>Indu Shekhar ChaturvediSecretary, Ministry of New and Renewable Energy, Government of India</div>"><figure><img class="" alt="" src="https://img.etb2bimg.com/imgv2/width-200,height-200,resize_mode-1/cp/int_1652007098.jpg" data-src="https://img.etb2bimg.com/imgv2/width-200,height-200,resize_mode-1/cp/int_1652007098.jpg" data-init-src="https://img.etb2bimg.com/files/../Themes/Release/images/responsive/default-face-min.png"></figure></li><li class="cards tooltip-v2 mintip alreadybound" data-title="<div class='in-page-author-tooltip'>Leena NandanSecretary, Ministry of Environment, Forests &amp; Climate Change, Government of India</div>"><figure><img class="" alt="" src="https://img.etb2bimg.com/imgv2/width-200,height-200,resize_mode-1/cp/int_1652006983.jpg" data-src="https://img.etb2bimg.com/imgv2/width-200,height-200,resize_mode-1/cp/int_1652006983.jpg" data-init-src="https://img.etb2bimg.com/files/../Themes/Release/images/responsive/default-face-min.png"></figure></li><li class="cards tooltip-v2 mintip alreadybound" data-title="<div class='in-page-author-tooltip'>H.E. Mr. André Aranha Corrêa do LagoBrazilian Ambassador to India</div>"><figure><img class="" alt="" src="https://img.etb2bimg.com/imgv2/width-200,height-200,resize_mode-1/cp/int_1651644047.jpg" data-src="https://img.etb2bimg.com/imgv2/width-200,height-200,resize_mode-1/cp/int_1651644047.jpg" data-init-src="https://img.etb2bimg.com/files/../Themes/Release/images/responsive/default-face-min.png"></figure></li><li class="cards tooltip-v2 mintip alreadybound" data-title="<div class='in-page-author-tooltip'>Manu SrivastavaPrincipal Secretary, Govt of Madhya Pradesh</div>" title=""><figure><img class="" alt="" src="https://img.etb2bimg.com/imgv2/width-200,height-200,resize_mode-1/cp/int_1649308882.jpg" data-src="https://img.etb2bimg.com/imgv2/width-200,height-200,resize_mode-1/cp/int_1649308882.jpg" data-init-src="https://img.etb2bimg.com/files/../Themes/Release/images/responsive/default-face-min.png"></figure></li><li class="cards tooltip-v2 mintip alreadybound" data-title="<div class='in-page-author-tooltip'>C Laxma ReddyAdditional Director General (Exploration), Directorate General of Hydrocarbons (DGH)</div>"><figure><img class="" alt="" src="https://img.etb2bimg.com/imgv2/width-200,height-200,resize_mode-1/cp/int_1650524035.jpg" data-src="https://img.etb2bimg.com/imgv2/width-200,height-200,resize_mode-1/cp/int_1650524035.jpg" data-init-src="https://img.etb2bimg.com/files/../Themes/Release/images/responsive/default-face-min.png"></figure></li><li class="cards tooltip-v2 mintip alreadybound" data-title="<div class='in-page-author-tooltip'>Sukla MistryDirector (Refineries), Indian Oil Corporation Ltd</div>"><figure><img class="" alt="" src="https://img.etb2bimg.com/imgv2/width-200,height-200,resize_mode-1/cp/int_1650367278.jpg" data-src="https://img.etb2bimg.com/imgv2/width-200,height-200,resize_mode-1/cp/int_1650367278.jpg" data-init-src="https://img.etb2bimg.com/files/../Themes/Release/images/responsive/default-face-min.png"></figure></li></ul></div></div></div><div class="controls "><a data-ga="in_page_promotions,in-page-promotions_in_page_1_86831931,microsite-1046" href="https://energy.economictimes.indiatimes.com/leadership-summit2022?ag=InPagePromo_energy&amp;utm_source=b2bInPagePromotions&amp;utm_medium=in_page" target="_blank" class="btn-promo">Register Now </a></div></div></div></div></div></div></div></div></div>“I am delighted to welcome Vivek as our CEO. We believe Vivek has strong international exposure, deep strategic expertise, and experience of driving transformation and managing disruption,” said <a href="https://energy.economictimes.indiatimes.com/tag/hitesh+doshi">Hitesh Doshi</a>, chairman and managing director, <a href="https://energy.economictimes.indiatimes.com/tag/waaree+group">Waaree Group</a>. Srivastava holds a bachelor’s degree in engineering from the Malaviya Regional Engineering College, Jaipur. </div>

waaree energies: Vivek Srivastava joins Waaree Energies as chief executive officer, Energy News, ET EnergyWorld

Vivek Srivastava joins Waaree Energies as chief executive officer  Read more at: https://energy.economictimes.indiatimes.com/news/renewable/vivek-srivastava-joins-waaree-energies-as-chief-executive-officer/86831931

<a data-ga-onclick="Inarticle articleshow link click#Industry#href" href="/topic/waaree-energies" target="_blank">Waaree Energies</a> on Tuesday said that the firm has completed production of over 300 MW solar modules for Aquamarine project in US.
 
 "Waaree Energies, has completed the production of 300+ MW solar modules for Aquamarine, a 250-MW solar photovoltaic project that is part of the first phase of <a data-ga-onclick="Inarticle articleshow link click#Industry#href" href="/topic/westlands-solar-park" target="_blank">Westlands Solar Park</a> (WSP) in California's San Joaquin Valley," a company statement said.
 
 <a data-ga-onclick="Inarticle articleshow link click#Industry#href" href="/topic/waaree" target="_blank">Waaree</a> has provided 385, 390 Wp Mono PERC Solar PV modules for installation at the WSP.
 <div class="adBox custom_ad nonm mgid" data-mgid="mgid_84787896"><div data-dfpslot="/7176/Economictimes/ET_ROS_NW/ET_ROS_Bid_Experiment_640" data-dfpsize="[[640, 360]]" data-type="dfp" class="colombiaSuccess colombiaAd ctn-colombia" data-section="0" data-position="84787896" data-slot="208630" hello="2" id="div-clmb-ctn-208630-84787896" style="display: block; height: 250px; width: 100%;"><iframe scrolling="no" frameborder="0" id="ifr_208630-84787896" style="width: 100%; height: 100%; border: 0px; overflow: hidden;"></iframe></div></div>
 The solar modules supplied by Waaree have undergone quality testing at Waaree's module manufacturing facility, which houses IEC-CB-CTF laboratory for reliability testing and certification.
 
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 Sunil Rathi, Director Sales and Marketing, Waaree Energies, said in the statement, "This order is in line with the Government of India's vision of Aatmanirbhar Bharat (making India a self-reliant nation) and shows the capabilities of Indian manufacturers to compete in the global market. “This order for Westlands Solar Park has brought USD 105 million of foreign exchange into our country and created good employment opportunities."
 
 He also talked about company's plan to strengthen our base in the US by opening a local office in California shortly.
 
 Aquamarine is part of the first phase of the Westlands Solar Park (WSP) expected to start <a data-ga-onclick="Inarticle articleshow link click#Industry#href" href="/topic/power" target="_blank">power</a> generation in late 2021.
 
 WSP is one of the largest permitted solar parks in the world, with the capacity of 2,700 MW of renewable power.
 
 The solar arrays are being installed on steel posts at a height of 8 to 10 feet above the ground with a maximum angle of tilt.
 
 Waaree solar panels supplied for this project are made of dark non-reflective materials to reduce glint and glare potential.
 
 The Waaree <a data-ga-onclick="Inarticle articleshow link click#Industry#href" href="/topic/energies" target="_blank">Energies</a> is the flagship company of <a data-ga-onclick="Inarticle articleshow link click#Industry#href" href="/topic/waaree-group" target="_blank">Waaree Group</a>, and has Solar PV Module manufacturing capacity of 2 GW.
 
 In addition, it is one of the players in India in EPC (engineering procurement and construction) services, project development, rooftop solutions, solar water pumps, and as an independent power producer.
 
 Waaree has its presence in over 375 locations nationally and 68 countries globally.

Waaree Energies completes production of over 300 MW solar modules in US

<a href="https://www.pv-magazine-india.com/2020/09/02/waaree-lands-300-mw-solar-module-supply-deal/" target="_blank" rel="noopener" tabindex="0">Waaree Energies</a> today announced it had completed the supply of 300+ MW solar modules for US-headquartered CIM Group’s Aquamarine 250 MW solar photovoltaic project. The PV project is part of the first phase of Westlands Solar Park in California’s San Joaquin Valley.Waaree has provided 385Wp and 390Wp mono PERC solar PV modules for the installation at WSP.The solar modules supplied by Waaree have undergone quality testing at Waaree’s module manufacturing facility, which houses IEC-CB-CTF <a href="https://www.pv-magazine-india.com/2020/11/10/waarees-solar-module-testing-lab-becomes-nabl-accredited/" target="_blank" rel="noopener" tabindex="0">laboratory for reliability testing</a> and certification.&nbsp;Waaree has already supplied over 3 GW solar panels globally and commissioned solar EPC projects in India and Southeast Asia.Sunil Rathi, director-Sales and Marketing, Waaree Energies Ltd, said, “This order is in line with the Government of India’s vision of Atmanirbhar Bharat (making India a self-reliant nation) and shows the capabilities of Indian manufacturers to compete in the global market. This order for Westlands Solar Park has brought US$105 million of foreign exchange into our country and created good employment opportunities.”Emboldened by its sales, Waaree plans to strengthen its base in the USA by opening a local office in California shortly.WSP is one of the largest permitted solar parks globally, with a 2.7 GW capacity of renewable power. The 250 MW Aquamarine, part of its first phase, is expected to start power generation in late 2021. The solar arrays are being installed on steel posts at the height of 8 to 10 feet above the ground with a maximum tilt angle. Waaree solar panels supplied for this project are made of dark non-reflective materials to reduce glint and glare potential.Waaree Energies Ltd, the flagship company of Waaree Group, has a solar PV module manufacturing capacity of 2 GW. It provides EPC services too. The company has its presence in over 375+ locations nationally and 68 countries globally.

The Indian solar manufacturer supplied its 385Wp and 390Wp mono PERC solar PV modules for US-headquartered CIM Group’s 250 MW solar photovoltaic project.

Waaree completes supply of 300+ MW solar modules for American project &#8211; pv magazine India

Waaree completes supply of 300+ MW solar modules for American project

<div class="Normal"><img height="450" width="600" class="" style="float:left;margin-right:10px;width:350px;;margin-bottom:5px;" src="https://etimg.etb2bimg.com/photo/84404857.cms" data-src="https://etimg.etb2bimg.com/photo/84404857.cms" captionrendered="1" alt="Waaree Energy Storage System announces partnership with Zypp Electric" data-init-src="https://st.etb2bimg.com/Themes/Release/images/responsive/etenergyworld-default.jpg">New Delhi: <a href="https://energy.economictimes.indiatimes.com/tag/waaree+energy+storage+system">Waaree Energy Storage System</a> has partnered with <a href="https://energy.economictimes.indiatimes.com/tag/zypp+electric">Zypp Electric</a> to supply lithium batteries to strengthen the latter's two-wheeler category. This partnership will mobilize clean energy technology with innovative high-tech battery management to build an environment friendly logistics ecosystem, a company statement said. "<a href="https://energy.economictimes.indiatimes.com/tag/waaree+energy">Waaree Energy</a> Storage System (WESS) expands supply of lithium batteries to strengthen Zypp Electric's two-wheeler category and facilitate state-of-the-art energy solutions," the statement added. The tailor-made system with remote monitoring will provide an integrated view of battery assets and complete delivery performance to ensure seamless operations and cost efficiency. <div data-bucket-limit="1" data-bucket-id="2" data-bucket-design="3" data-bucket-position="in_page" class="in-page-promotions-buckets-featured featured_section_disabled bucket-position-in_page" data-type="in-page-promotions" id="in-page-promotions_in_page_1_84404829" data-ftd-params="design=3&amp;limit=1&amp;entity_type=all&amp;position=in_page&amp;bucket_id=2&amp;rendered_items=0&amp;rendered_items=0" data-ftd-type="in-page-promotions" data-ftd-callback="inPagePromoCallback"><div class="in-page-promotions-buckets hide"></div></div>This collaboration will fuel mass adoption of green final-mile delivery and lead the transition towards reducing carbon footprint in the automobile industry, it stated. "We believe this partnership will yield greater penetration of clean energy among industries and propel the growth of reliable electric two-wheelers for last-mile delivery," Shiv Nath, MD, <a href="https://energy.economictimes.indiatimes.com/tag/waaree+ess+pvt+ltd">Waaree ESS Pvt Ltd</a> said in the statement. Akash Gupta, CEO of Zypp Electric said in the statement, "With proven expertise in electric mobility solutions, our partnership with <a href="https://energy.economictimes.indiatimes.com/tag/waaree+ess">Waaree ESS</a> will enable us to fast-track our growth and expand our e-scooter fleet by 10x by 2023." Waaree ESS has been a pioneer in addressing the demands of lithium batteries to contribute to the country's ambitious green energy development plan. Zypp Electric is a leading last-mile delivery EV startup, founded in 2017. The company currently delivers groceries, medicines, food, and packages through their fully automated IoT and AI-enabled scooters.</div>

Waaree Energy Storage System announces partnership with Zypp Electric, Energy News, ET EnergyWorld

Waaree Energy Storage System announces partnership with Zypp Electric

This man built India’s largest solar business despite competition from China; is now clocking Rs 2,000 Cr revenue

MUMBAI, India, June 28, 2021 /PRNewswire/ -- WAAREE Energies, India's largest solar module manufacturer, has Supplied 335 Wp Poly Solar modules for a project developed by Bondada engineering.&nbsp;The size of the project is 3MW located at GJ, KPI Solar Ranada, Amod Taluka, Dist Bharuch, 392035, Gujarat. WAAREE has supplied 3MW of solar modules for this prestigious project. The project was Commissioned in May 2021.
WAAREE serves over 5000 customers globally which illustrates the trust gained by the company over a period of 32 years of its existence. WAAREE currently has India's largest Solar Sales and service network, with over 375 franchisees globally. With more than 140 tests performed at various stages of manufacturing, WAAREE maintains its quality above global standards. WAAREE is perceived by customers as the premium module supplier &amp; has already supplied near to 3.5 GW of solar panels till date globally, and commissioned over 600 MW of solar EPC projects in India.
WAAREE solar modules are exported in more than 68 countries including USA, UK, Europe, Italy and Africa. WAAREE Energies is planning to further expand its footprint with 1000 franchises by the end of 2021. WAAREE aims to bridge the ever growing demand - supply gap of electricity, by making solar accessible to all and inch towards a viable indigenous ecosystem.
About WAAREE Energies
WAAREE Energies Ltd. is the flagship company of WAAREE Group, and has the country's largest Solar PV Module manufacturing capacity of 2 GW. In addition, it is one of leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and as an Independent Power Producer. WAAREE has its presence in over 375+ locations nationally and 68 countries globally.

/PRNewswire/ -- WAAREE Energies, India's largest solar module manufacturer, has Supplied 335 Wp Poly Solar modules for a project developed by Bondada...

WAAREE supplied 3MW Solar Modules to Bondada engineering

MUMBAI, India, June 21, 2021 /PRNewswire/ -- Waaree Energies, India's largest solar module manufacturer, has Supplied&nbsp;335 Wp&nbsp;Poly&nbsp;Solar modules for a project developed by&nbsp;Velan Electrical.&nbsp;The size of the project is&nbsp;2.81 MW located at&nbsp;Vembur, Thoothukudi district, Tamil Nadu. Waaree has supplied 2.81 MW of solar modules for this prestigious project.&nbsp;The project was Commissioned in&nbsp;June 2021.&nbsp;
With more than 140 tests performed at various stages of manufacturing, Waaree maintains its quality above global standards. Waaree&nbsp;is perceived by customers as the premium module supplier &amp; has already supplied near to 3.5 GW of solar panels till date globally, and commissioned over 600 MW of solar EPC projects in India.
Waaree serves over 5000 customers globally which illustrates the trust gained by the company over a period of 32 years of its existence. Waaree currently has India's largest Solar Sales and service network, with over 375 franchisees globally.
Waaree solar modules are exported in more than 68 countries including USA, UK, Europe, Italy and Africa. Waaree Energies is planning to further expand its footprint with 1000 franchises by the&nbsp;end of 2021. Waaree aims to bridge the ever growing demand - supply gap of electricity, by making solar accessible to all and inch towards a viable indigenous ecosystem.
About Waaree Energies
Waaree Energies Ltd. is the flagship company of Waaree Group, and has the country's largest Solar PV Module manufacturing capacity of 2 GW. In addition, it is one of leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and as an Independent Power Producer. Waaree has its presence in over 375+ locations nationally and 68 countries globally.

/PRNewswire/ -- Waaree Energies, India's largest solar module manufacturer, has Supplied 335 Wp Poly Solar modules for a project developed by Velan Electrical....

Waaree supplied 2.81 MW Solar Modules to M/s. Velan Electrical

<a href="https://www.saurenergy.com/solar-energy-news/waaree-energies-powers-up-pondicherrys-first-solar-power-project" target="_blank" rel="noopener noreferrer">Waaree Energies</a>, one of India’s largest solar manufacturers has supplied its solar PV modules to Austrian chemical firm, Borealis’s plant in Monza, Italy. Waaree is providing its solar modules for the installation of first solar PV rooftop array for electricity generation at the Austrian firm’s plant.&nbsp;<table bgcolor="#FFFFFF" width="100%" cellpadding="0" cellspacing="0" border="0">
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Borealis is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and the mechanical recycling of plastics.<div id="contentadd" style="width: auto;display: flex;text-align:center;margin-left: 20px;">
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Borealis is empowering the solar energy sector through its innovative solar brand&nbsp;Quentys which offers a step-change in production cost efficiency for PV modules. In addition to lowering production costs, it improves module reliability, increases power output, and ensures longer lifetimes. Because it is fully recyclable, Quentys helps achieve a lower environmental footprint.
<div class="relativeNews"><figure><a href="https://www.saurenergy.com/solar-energy-news/bhel-tenders-for-solar-compact-station-for-8mw-farm-in-mauritius"><img src="https://img.saurenergy.com/2017/05/Bharat-Heavy-Electricals-Limited-BHEL-Solar-power-plant-110x70.jpg"></a></figure><div class="h3">
<a href="https://www.saurenergy.com/solar-energy-news/bhel-tenders-for-solar-compact-station-for-8mw-farm-in-mauritius">BHEL Tenders for Solar Compact Station Of 8MW Farm in Mauritius</a></div><a href="https://www.saurenergy.com/solar-energy-news/bhel-tenders-for-solar-compact-station-for-8mw-farm-in-mauritius" class="nextRead"> Also Read </a></div>
Waaree Energies is using the encapsulant materials made with Quentys to improve long-term<a href="https://www.saurenergy.com/solar-energy-news/waaree-supplies-2mw-solar-modules-to-f-robin-polymer" target="_blank" rel="noopener noreferrer"> PV module</a> performance and reliability and thus offer an improved rate of return. The Monza installation is the first of several solar projects planned for Borealis production operations, each of which will move the company closer to its goal of sourcing 50 percent of all electricity it consumes from renewable sources by the year 2030, according to the firm.
The PV modules used in Monza installation have been certified according to the solar module standards of the International Electrotechnical Commission (IEC). Also, the modules used in Monza are in conformance with the Italian Fire Class certification UNI 9177.
While Waaree’s <a href="https://www.saurenergy.com/solar-energy-news/omans-aer-encourage-local-homeowners-install-solar-arrays-rooftops" target="_blank" rel="noopener noreferrer">rooftop array installation</a> is expected to provide solar-powered electricity to the Monza plant by the third quarter of 2021, the generated electricity will save nearly 90 tons of CO2 emissions per year, the rough equivalent of having planted around 4,000 trees.
<div class="relativeNews"><figure><a href="https://www.saurenergy.com/solar-energy-news/jakson-group-launches-21-efficient-helia-series-pv-module"><img src="https://img.saurenergy.com/2021/05/jakson-group-110x70.jpg"></a></figure><div class="h3">
<a href="https://www.saurenergy.com/solar-energy-news/jakson-group-launches-21-efficient-helia-series-pv-module">Jakson Group Launches 21% Efficient Helia Series PV Module</a></div><a href="https://www.saurenergy.com/solar-energy-news/jakson-group-launches-21-efficient-helia-series-pv-module" class="nextRead"> Also Read </a></div>
Speaking of the collaboration with Borealis, Chairman of Waaree Group, Mr. Hitesh Doshi stated, “At Waaree Energies, we are committed to producing the best quality products for the global market. Our Monza collaboration with Borealis is a stellar example of how we can improve the world, one installation at a time, by pooling our respective expertise and experience, and by drawing on the best technologies available, such as Quentys.”
“Life demands progress. This pioneering Monza project is one with many ‘firsts’: this is the first time that Borealis is generating electricity for our production operations using Quentys,” says Martijn van Koten, Borealis Executive Vice President Operations &amp; Base Chemicals. “Our new PV array is the first PV rooftop installation in the Monza industrial region. It is also the first in a series of planned solar installations that will increase the share of energy generated from renewable sources in our overall electricity mix.”

Waaree&#039;s solar PV modules, powering the plant of an Austrian chemical firm, Borealis&#039;s plant in Monza, Italy.

WAAREE&#039;s Solar Modules to Power Austrian Firm Borealis&#039;s Plant in Italy

WAAREE’s Solar Modules to Power Austrian Firm Borealis’s Plant in Italy

Borealis, an Austria-headquartered PV encapsulant material supplier, is installing a solar photovoltaic (PV) rooftop array at its Italy plant with modules supplied by Indian solar manufacturer Waaree Energies.The Waaree modules use Borealis’ proprietary Quentys encapsulant film, which is said to provide superior resistance to ultraviolet rays, a low rate of water vapor transmission, and no acetic acid or potential induced degradation (PID). Borealis claims its Quentys encapsulant film considerably improves the reliability and durability of photovoltaic modules and thus offer an improved rate of return.The rooftop solar plant would be located at Borealis operations in Monza, and meet the electricity requirements for production at the plant. The plant is expected to become operational by the third quarter of 2021. The amount of clean energy thus generated will save nearly 90 tons of CO2 emissions per year, the rough equivalent of having planted around 4,000 trees.The Monza installation is the first of several solar projects planned for Borealis production operations, each of which will move the company closer to its goal of sourcing 50% of all electricity it consumes from renewable sources by the year 2030.The PV modules used in the Borealis Monza installation have been certified according to the solar module standards of the International Electrotechnical Commission (IEC), an association that publishes global standards for a variety of electrical technologies, including solar.The modules used in Monza are also in conformance with the Italian Fire Class certification UNI 9177.

Waaree solar modules to power Austrian PV encapsulant firm’s operations

India has <a href="https://mercomindia.com/production-linked-incentive-solar-modules-approved/" target="_blank" rel="noopener">launched</a> a performance-linked incentive (PLI) program to support vertically integrated, gigawatt-scale manufacturing of high-efficiency solar modules. The implementing agency – the Indian Renewable Energy Development Agency (<a href="https://www.ireda.in/" target="_blank" rel="noopener">IREDA</a>), has also <a href="https://mercomindia.com/ireda-invites-bids-to-set-up-solar-module-manufacturing-capacities-under-pli-program/" target="_blank" rel="noopener">invited</a> bids for setting up manufacturing capacities. The program aims to set up large-scale manufacturing with cutting-edge technology, promote an ecosystem for local material supplies, generate employment resulting in self-sufficiency (Atmanirbhar Bharat).
For more than a decade, India has depended on imported solar PV cells and modules for large-scale projects, as the domestic manufacturing capacity is limited and lagging on technology. The PLI program aims to reduce dependence on imports as India’s large-scale solar project pipeline <a href="https://mercomindia.com/product/q1-2021-india-solar-market-update/" target="_blank" rel="noopener">swells</a> with 53.6 GW in various stages of construction and another 24.1 GW tendered and pending auctions.
Mercom spoke with several players in the domestic manufacturing sector to examine the sentiment surrounding PLI.
Huge expectations but insufficient spending<div class="merco-sungrow-desktop-ad-full-width ads" style="margin-left: auto; margin-right: auto; text-align: center; " id="merco-246809307">
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Dr. Hitesh Doshi, Chairman, and Managing Director, Waaree Group, welcomed the government’s announcement on the PLI program and feels it is a step to push manufacturing in India, which the country’s solar sector needs.
“However, to completely wean off dependence on imports, the allocated fund for PLI scheme is quite meager, and capacities one is expected to generate with this amount will be very less. If more funds can be approved, it will allow the manufacturers to set up additional units, which will help in contributing to the country’s GDP,” Doshi added.
Another major domestic manufacturer told Mercom that manufacturers were excited about the PLI program until they read the fine print.
He said, “The PLI program gives preference to manufacturers who bid for the whole supply chain from ingots to modules. But the PLI amount will be exhausted by the time the funds are given to four to five such manufacturers. The rest of the offers will be on the waiting list. The incentive provided to the manufacturers also is only about 50% of the investment by the manufacturer. It is a very complex program.”
According to a manufacturer setting up a new module capacity for a 1 GW module manufacturing plant (without considering land and building), the equipment cost is ₹1 billion ($136 million). For a 1 GW cell (210 mm) manufacturing plant, the equipment cost is ₹4.5 billion ($613 million). A minimum of ₹600 million ($8.17 million) is needed for a GW plant for the land and building.
The working capital need is ₹18 billion ($245 million) for 1 GW of cell and module manufacturing, each, considering a 90-day cycle with 80% plant efficiency (800 MW produced in a 1 GW plant). So, ₹24-25 billion ($327-341 million) in investments is needed to be eligible for PLI, and the outlay is just ₹45 Billion (~$619 million), according to the manufacturer
It’s a big players game
Another manufacturer planning to set up a solar module and cell capacity under the program said, “We plan to install 2 MW each of cell and module facilities. The investment needed for only equipment (without land and building) is $15 million for 2 GW of modules, and for 2 GW of cells, it is $40 million (European line) and 40% less if it is a Chinese line. The working capital required for a 60-day cycle at 70% plant efficiency is ₹1.6 billion ($218.5 million)/GW of modules and ₹1.1 billion ($150.2 million)/GW of cells. The working capital will be higher for a new entrant as he needs to build a credit history with Chinese suppliers. This is a big players’ game,” He added.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities.png"><noscript><img class="aligncenter size-full wp-image-26824" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities.png" alt="PLI Program: Minimum Net worth Criteria to Set Up Solar Manufacturing Capacities" width="833" height="239" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities.png 833w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities-300x86.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities-768x220.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities-650x186.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities-624x179.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities-600x172.png 600w" sizes="(max-width: 833px) 100vw, 833px" /></noscript><img class="lazyload aligncenter size-full wp-image-26824" src="data:image/svg+xml,%3Csvg%20xmlns=%22http://www.w3.org/2000/svg%22%20viewBox=%220%200%20833%20239%22%3E%3C/svg%3E" data-src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities.png" alt="PLI Program: Minimum Net worth Criteria to Set Up Solar Manufacturing Capacities" width="833" height="239" data-srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities.png 833w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities-300x86.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities-768x220.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities-650x186.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities-624x179.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Minimum-Net-worth-Criteria-to-Set-Up-Solar-Manufacturing-Capacities-600x172.png 600w" data-sizes="(max-width: 833px) 100vw, 833px"></a>
According to a manufacturer, instead of several Chinese players, the market will end up being dominated by a few Indian players. The banks are not ready to fund such a large amount unless the borrowing entities are large corporates. The credit rating of most companies also has gone down in the post-Covid scenario.
A top executive from a major domestic cell manufacturer told Mercom, “The government has decided that the PLI program is meant for the bigger players in domestic manufacturing. It is catering to large investments to come in. They are not here to mushroom small players. The plan is to have the latest technology, economies of scale, solid supply chain – the objective of NITI Aayog. They don’t want to incentivize sub-optimum technologies.”
&nbsp;Investors take the risk and pay bank guarantees too?
Another manufacturer commented, “The PLI regulations specify that the manufacturers must pay a security deposit. Why does the government need a security deposit when a company is investing in production? Why would a private enterprise lock in their money in a security deposit and then make a huge investment in setting up a production plant? That too when the profit margin is just a few paise per watt?”
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Performance-Bank-Guarantee-Requirement.png"><noscript><img class="aligncenter size-full wp-image-26825" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Performance-Bank-Guarantee-Requirement.png" alt="PLI Program: Performance Bank Guarantee Requirement" width="422" height="147" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Performance-Bank-Guarantee-Requirement.png 422w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Performance-Bank-Guarantee-Requirement-300x105.png 300w" sizes="(max-width: 422px) 100vw, 422px" /></noscript><img class="lazyload aligncenter size-full wp-image-26825" src="data:image/svg+xml,%3Csvg%20xmlns=%22http://www.w3.org/2000/svg%22%20viewBox=%220%200%20422%20147%22%3E%3C/svg%3E" data-src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Performance-Bank-Guarantee-Requirement.png" alt="PLI Program: Performance Bank Guarantee Requirement" width="422" height="147" data-srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Performance-Bank-Guarantee-Requirement.png 422w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/PLI-Program-Performance-Bank-Guarantee-Requirement-300x105.png 300w" data-sizes="(max-width: 422px) 100vw, 422px"></a>
Smaller players sidelined
Bharat Bhut who is the co-founder and director of one of the major manufacturers in India – Goldi Solar – , told Mercom that with the PLI scheme, the government is pushing for the growth of integrated manufacturing from polysilicon, ingots, wafers, and cells to PV modules.
“However, there are some drawbacks with the complex incentive structure. Very few companies or joint ventures will be eligible to apply for the program while also completely leaving out smaller enterprises. Indian businesses usually start as small companies and expand to become larger organizations. With obligatory vertical integration and the capacity cap, only those with large manufacturing capacities will sustain in such a competitive environment. If the government wants to create a manufacturing ecosystem, it should allow standalone factories of modules, cells, and other raw materials to thrive.”
He further added, “Manufacturers from other countries will have an advantage given their track record, R&amp;D, capital, and experience – Indian companies will have to up the ante through R&amp;D to offer better efficiency modules than the current offerings.”
According to a top domestic module manufacturer, the PLI program has no consideration for micro and small and medium enterprises (SMEs and MSMEs).
Another medium-size domestic manufacturer told Mercom, “We understand that manufacturing units which have imported capital goods for setting up the module manufacturing facility before the last date of bid submission will not be eligible for participation under the PLI scheme. But the import of capital goods should happen after the last date of submission. This indicates that the program is for new ventures, and they will place the order after this tender while existing ventures with current setup can’t bid.”
According to Aditya Singhania, Director of Navitas Green Solutions, the main issue with PLI is that it is out of reach for the MSME sector.
According to Singhania, with or without the PLI program, any manufacturer will have to increase their production capacity to survive. “We believe 40%-50% domestic module manufacturers will close shop by 2023. The capacities the big companies can manage will flood the market,” he added.
He further added, “Players like us, operating in 200-500 MW capacity range, will need to get into some niche products to meet our profitability rather than depend on selling modules and generating revenues. We are getting into series funding, but that is not an option for everyone. The most profitable 5-10% companies would be able to do that. The majority of the players are not well connected and would not be able to arrange for private equity funding or series funding.”
Singhania told Mercom that many of the old solar manufacturing companies are declaring bankruptcy. Microsun Solar has been in the market for so many years and has filed for bankruptcy due to the prevailing market conditions.
Mercom spoke with MicroSun’s executive manager Veeren Jain who confirmed that the company had recently filed for bankruptcy. “Yes, we have filed for bankruptcy, but it is not just because of lack of government support. We had some management issues as well, which was getting bottled up, and it eventually came down to this,” the official said.
According to Jain, the PLI scheme reflects the pattern followed in China where the few bigger players thrive and government policies wipe out the smaller players.
On the company’s future and other small and medium-sized players, Jain said, “I feel except for those who can maintain a cash flow, the rest like us will be wiped out. For medium players, the bank asks for collateral security when we approach them. If we had collateral, why would we need loans? During the pandemic, if we go to banks, they ask for our financial records, but with the economy down thanks to the pandemic, how can we show positive markers in our financial records?” He asked.
What about MSMEs?
Shiv Mittal, Managing Director of Rhine Solar, said that the small and medium manufacturers cannot showcase a sustainable costing model. “Our businesses are under threat. Around 10-12 big players can easily swallow the remaining through this incentive program. Some tenders like CPSU mandate DCR, which is the only saving grace small players have. But we cannot lose hope, and we believe that there will be a way out for small players to thrive in the market competitively. We think the government will bring some new programs for us. Our manufacturers’ association is currently working on a mechanism to communicate our grievances to the government.”
Another manufacturer suggested that there has to be an – Upgradation fund. There should be a fund for setting up a new facility and also upgradation. Upgradation also is like a new investment as none of the old equipment in the existing plant can be used to produce new technology modules – not even the conveyor. The whole plant has to be scrapped and a new one built. For the textile industry, the government gave an upgradation fund. What we need now is an upgradation fund rather than a PLI program.
The Atmanirbhar (self-reliance) initiative of the government aims to create an ecosystem that will aid Indian companies to be extremely competitive on the global stage, and for this scale and advanced technology is considered crucial. The government has addressed one challenge, but a greater one lies in deciding the fate of the numerous small manufacturers. They have been mostly catering to the supplies needed by government projects (DCR) but are on the verge of collapse and cannot keep up with the new investments required to keep pace with the fast-evolving technology.

Mercom spoke with several players in the domestic manufacturing sector to examine the sentiment surrounding PLI

Solar Industry Reacts: PLI Program Good for Large Manufacturers; MSMEs Left Out - Mercom India

Solar Industry Reacts: PLI Program Good for Large Manufacturers; MSMEs Left Out

<div class="Normal"><img height="450" width="600" class="" style="float:left;margin-right:10px;width:350px;;margin-bottom:5px;" src="https://etimg.etb2bimg.com/photo/83054638.cms" data-src="https://etimg.etb2bimg.com/photo/83054638.cms" captionrendered="1" alt="Waaree Energies launches Waaree Prime App for EPC companies" data-init-src="https://st.etb2bimg.com/Themes/Release/images/responsive/etenergyworld-default.jpg">New Delhi: <a href="https://energy.economictimes.indiatimes.com/tag/waaree+energies">Waaree Energies</a> on Friday launched a first-of-its-kind app in the solar sector, <a href="https://energy.economictimes.indiatimes.com/tag/waaree">Waaree</a> Prime, to engage and gratify the <a href="https://energy.economictimes.indiatimes.com/tag/epc+companies">EPC companies</a> associated with it. Currently, Waaree has a strength of 5,000 <a href="https://energy.economictimes.indiatimes.com/tag/epc">EPC</a> partners across India. The company endeavours to stretch its wings through this app to penetrate a larger geographical radius, expanding its community to reach 10,000 EPC companies in a year, a company statement said. The app functions on a simple rewards program model that enables these EPC companies to become members and redeem awards on the app upon purchasing modules from any Waaree authorised store/franchise, the statement said. <div data-bucket-limit="1" data-bucket-id="2" data-bucket-design="3" data-bucket-position="in_page" class="in-page-promotions-buckets-featured featured_section_disabled bucket-position-in_page inpromorendered item-inviewport" data-type="in-page-promotions" id="in-page-promotions_in_page_1_83054624" data-ftd-params="design=3&amp;limit=1&amp;entity_type=all&amp;position=in_page&amp;bucket_id=2&amp;rendered_items=0&amp;rendered_items=0" data-ftd-type="in-page-promotions" data-ftd-callback="inPagePromoCallback" data-gtm-vis-recent-on-screen-48466252_67="105581" data-gtm-vis-first-on-screen-48466252_67="105581" data-gtm-vis-total-visible-time-48466252_67="100" data-gtm-vis-has-fired-48466252_67="1"><div class="in-page-promotions-buckets"><div class="add-section">Advertisement</div><div class="featured-promo-section feature-promo-big-authors undefined promo-section combined-promo promo-design-3 promo-after-article"><div class="row"><div class="featured-promo-item featured-promo-element col-md-12 col-sm-12 "><div class="clearfix no-gutter undefined"><div class="row "><div class="col-md-12 col-xs-12"><figure class="avtar avtar-right avtar-right"><a href="https://energy.economictimes.indiatimes.com/energy-leadership-awards?ag=InPagePromo_energy&amp;utm_source=b2bInPagePromotions&amp;utm_medium=in_page" data-ga="in_page_promotions,in-page-promotions_in_page_1_83054624,microsite-1085" target="_blank"><img class="" alt="" src="https://img.etb2bimg.com/imgv2/width-300,height-300,resize_mode-4/cpsbranding_logo-1649763335.png" data-src="https://img.etb2bimg.com/imgv2/width-300,height-300,resize_mode-4/cpsbranding_logo-1649763335.png" data-init-src="https://st.etb2bimg.com/Themes/Release/images/responsive/news-energy-default-min.jpg"></a></figure><div class="featured-promo-box"><div class="promo-lead "><a data-ga="in_page_promotions,in-page-promotions_in_page_1_83054624,microsite-1085" href="https://energy.economictimes.indiatimes.com/energy-leadership-awards?ag=InPagePromo_energy&amp;utm_source=b2bInPagePromotions&amp;utm_medium=in_page" target="_blank" data-disable-ga-impression="1">#ETEnergyawards</a></div><h2 class="promo-head"><a data-ga="in_page_promotions,in-page-promotions_in_page_1_83054624,microsite-1085" href="https://energy.economictimes.indiatimes.com/energy-leadership-awards?ag=InPagePromo_energy&amp;utm_source=b2bInPagePromotions&amp;utm_medium=in_page" target="_blank" data-disable-ga-impression="1">The Economic Times Energy Leadership Awards 2022</a></h2><div class="metaTx ">16 June 2022 @ 05:30 PM </div></div>ET Energy Leadership Awards acknowledges the outstanding contributors in the entire spectrum of the energy sector. It recognizes organizations, leaders, innovators and trendsetters in this industry.<div class="slide-container hide"><ul class="feature-promo-big-authors lst-box2 news-listing clearfix margtop15 marglf10"></ul></div><div class="controls "><a data-ga="in_page_promotions,in-page-promotions_in_page_1_83054624,microsite-1085" href="https://energy.economictimes.indiatimes.com/energy-leadership-awards?ag=InPagePromo_energy&amp;utm_source=b2bInPagePromotions&amp;utm_medium=in_page" target="_blank" class="btn-promo" data-disable-ga-impression="1">Register Now </a></div></div></div></div></div></div></div></div></div>The user-friendly interface of the rewards app is currently available in three languages - English, Hindi and Gujarati on the Android app store to ensure easy access to every EPC player and promote solar across India. "Waaree Prime is a token of appreciation to our EPC partners who ensure solarising the remotest corners of India. Their contribution has enabled a widespread adaptation of solar that has transformed and strengthened the overall energy ecosystem," said Hitesh Doshi, Chairman and <a href="https://energy.economictimes.indiatimes.com/tag/managing+director">Managing Director</a>, Waaree Group in the statement. Through Waaree Prime, the company aspires to encourage more people to join the integrator and distributor community and steer the country to reach its ambitious target of 450 GW by 2030. Waaree Energies is the flagship company of Waaree Group, and has the country's largest solar PV module manufacturing capacity of 2 GW. In addition, it is one of leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and as an <a href="https://energy.economictimes.indiatimes.com/tag/independent+power+producer">Independent Power Producer</a>. Waaree has its presence in over 375 locations nationally and 68 countries globally.</div>

The company endeavours to stretch its wings through this app to penetrate a larger geographical radius, expanding its community to reach 10,000 EPC co..

Waaree Energies launches Waaree Prime App for EPC companies, Energy News, ET EnergyWorld

Waaree Energies launches Waaree Prime App for EPC companies

Waaree Energies on Friday launched a first-of-its-kind app in the solar sector, Waaree Prime, to engage and gratify the EPC companies associated with it.
Currently, Waaree has a strength of 5,000 EPC partners across India. The company endeavours to stretch its wings through this app to penetrate a larger geographical radius, expanding its community to reach 10,000 EPC companies in a year, a company statement said.
The app functions on a simple rewards program model that enables these EPC companies to become members and redeem awards on the app upon purchasing modules from any Waaree authorised store/franchise, the statement said.
The user-friendly interface of the rewards app is currently available in three languages – English, Hindi and Gujarati on the Android app store to ensure easy access to every EPC player and promote solar across India.
'Waaree Prime is a token of appreciation to our EPC partners who ensure solarising the remotest corners of India. Their contribution has enabled a widespread adaptation of solar that has transformed and strengthened the overall energy ecosystem,' said Hitesh Doshi, Chairman and Managing Director, Waaree Group in the statement.
Through Waaree Prime, the company aspires to encourage more people to join the integrator and distributor community and steer the country to reach its ambitious target of 450 GW by 2030.
Waaree Energies is the flagship company of Waaree Group, and has the country's largest solar PV module manufacturing capacity of 2 GW.
In addition, it is one of leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and as an Independent Power Producer.
Waaree has its presence in over 375 locations nationally and 68 countries globally.

Waaree Energies is the flagship company of Waaree Group, and has the country's largest solar PV module manufacturing capacity of 2 GW., , Waaree Energies, launches, Waaree Prime App

Waaree Energies Launches Waaree Prime App - BW Businessworld

Waaree Energies Launches Waaree Prime App

<div class="Normal"> <img height="450" width="600" class="" style="float:left;margin-right:10px;width:350px;;margin-bottom:5px;" src="https://etimg.etb2bimg.com/photo/82373540.cms" data-src="https://etimg.etb2bimg.com/photo/82373540.cms" captionrendered="1" alt="India's solar equipment manufacturers finding it difficult to sustain: Waaree" data-init-src="https://st.etb2bimg.com/Themes/Release/images/responsive/etenergyworld-default.jpg">New Delhi: Indian manufacturers of <a href="https://energy.economictimes.indiatimes.com/tag/solar+power">solar power</a> generation equipment are going through a tough time as import duty on raw materials and cost of shipping has made the situation extremely non-viable to continue manufacturing in the country, according to <a href="https://energy.economictimes.indiatimes.com/tag/waaree">Waaree</a> Group. "For Indian solar module manufacturers to expand their capacities, they need to sustain, which looks difficult at the moment. There will be no duty barriers for imports of solar modules from the date of Safeguard Duty expiry to the date of implementation of Basic Customs Duty while duties on import of raw materials will continue to exist," the company quoted Chairman and Managing Director Hitesh Doshi as saying in a statement. He added this nine month period will have a crippling effect on domestic manufacturers which may also lead to a shutdown of units in India and risk 300,000 jobs. "So, till the <a href="https://energy.economictimes.indiatimes.com/tag/bcd">BCD</a> comes into force some steps need to be implemented to aid the sustenance of domestic manufacturers," Doshi said. <div data-bucket-limit="1" data-bucket-id="2" data-bucket-design="3" data-bucket-position="in_page" class="in-page-promotions-buckets-featured featured_section_disabled bucket-position-in_page inpromorendered item-inviewport" data-type="in-page-promotions" id="in-page-promotions_in_page_1_82373544" data-ftd-params="design=3&amp;limit=1&amp;entity_type=all&amp;position=in_page&amp;bucket_id=2&amp;rendered_items=0&amp;rendered_items=0" data-ftd-type="in-page-promotions" data-ftd-callback="inPagePromoCallback" data-gtm-vis-recent-on-screen-48466252_67="72" data-gtm-vis-first-on-screen-48466252_67="72" data-gtm-vis-total-visible-time-48466252_67="100" data-gtm-vis-has-fired-48466252_67="1"><div class="in-page-promotions-buckets"><div class="add-section">Advertisement</div><div class="featured-promo-section feature-promo-big-authors undefined promo-section combined-promo promo-design-3 promo-after-article"><div class="row"><div class="featured-promo-item featured-promo-element col-md-12 col-sm-12 "><div class="clearfix no-gutter undefined"><div class="row "><div class="col-md-12 col-xs-12"><figure class="avtar avtar-right avtar-right"><a href="https://masterclass.economictimes.indiatimes.com/mba60iu?ag=InPagePromo_energy&amp;utm_source=b2bInPagePromotions&amp;utm_medium=in_page" data-ga="in_page_promotions,in-page-promotions_in_page_1_82373544,masterclass-792" target="_blank"><img class="" alt="" src="https://img.etb2bimg.com/imgv2/width-300,height-300,resize_mode-4/retail_files/promo_thumbnail_pic_1650436911_69371.jpg" data-src="https://img.etb2bimg.com/imgv2/width-300,height-300,resize_mode-4/retail_files/promo_thumbnail_pic_1650436911_69371.jpg" data-init-src="https://st.etb2bimg.com/Themes/Release/images/responsive/news-energy-default-min.jpg"></a></figure><div class="featured-promo-box"><div class="promo-lead "><a data-ga="in_page_promotions,in-page-promotions_in_page_1_82373544,masterclass-792" href="https://masterclass.economictimes.indiatimes.com/mba60iu?ag=InPagePromo_energy&amp;utm_source=b2bInPagePromotions&amp;utm_medium=in_page" target="_blank">Online Degree Program</a></div><h2 class="promo-head"><a data-ga="in_page_promotions,in-page-promotions_in_page_1_82373544,masterclass-792" href="https://masterclass.economictimes.indiatimes.com/mba60iu?ag=InPagePromo_energy&amp;utm_source=b2bInPagePromotions&amp;utm_medium=in_page" target="_blank">Master of Business Administration (MBA)</a></h2><div class="metaTx ">18 June 2022 @ 11:00 AM </div></div>12 months program for working professionals<div class="slide-container hide"><ul class="feature-promo-big-authors lst-box2 news-listing clearfix margtop15 marglf10"></ul></div><div class="controls "><a data-ga="in_page_promotions,in-page-promotions_in_page_1_82373544,masterclass-792" href="https://masterclass.economictimes.indiatimes.com/mba60iu?rgstr=1&amp;ag=InPagePromo_energy&amp;utm_source=b2bInPagePromotions&amp;utm_medium=in_page" target="_blank" class="btn-promo">Register Now </a>Double MBA Degree from IU Germany and London South Bank University (LSBU) UK</div></div></div></div></div></div></div></div></div>Mumbai-based Waaree is the largest solar PV module manufacturer in India. The company also provides solar energy solutions employing over 2,500 people globally. It owns the largest solar panel module manufacturing facility in India with a capacity of 2,000 Megawatt. He also said the government's latest announcement on <a href="https://energy.economictimes.indiatimes.com/tag/production+linked+incentive">Production Linked Incentive</a> scheme is a welcome step. One of the objectives of the scheme is to boost domestic manufacturing of high efficiency indigenous PV solar modules to reduce reliance on imports and generate employment opportunities. Doshi said in order to completely wean off dependence on imports, the allocated fund for PLI Scheme is "quite meagre" and capacities expected to generate with this amount will be very less, and sanctioning of more funds will allow the manufacturers to set up additional units. </div>

For Indian solar module manufacturers to expand their capacities, they need to sustain, which looks difficult at the moment, the firm said.

India's solar equipment manufacturers finding it difficult to sustain: Waaree, Energy News, ET EnergyWorld

India's solar equipment manufacturers finding it difficult to sustain: Waaree

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<h2 class="p1">Waaree Energies has been assigned SP1A ranking by ICRA emphasizing strong performance capability and financial strength to undertake solar projects</h2>
One of India’s leading solar solutions firms, <a href="https://www.saurenergy.com/solar-energy-news/waaree-energies-ships-2-5-gw-of-solar-modules-globally" target="_blank" rel="noopener noreferrer">Waaree Energies</a> has been assigned the highest-ranking of SP1A by the Investment Information and Credit Ranking Agency of India (ICRA) under System Integrator Grading. The ranking SP1A emphasises that the company’s superior performance capability and highest financial strength to undertake solar projects. Valid for two years, it reiterates Waaree’s position as the most efficient and trusted player in the solar manufacturing space.
This also makes the brand one of the most preferred partners among stakeholders owing to its robust project financing caliber and sound technological infrastructure. It assures customers timely completion of projects, well-rounded project development skills, expert rooftop solutions, adept power production and superior ability to orchestrate large-scale solar projects contributing to India’s mission of 175 GW by 2022 in the larger scheme of things. Waaree has already executed over 600 MW solar projects and has a record of executing a 50 MW solar project in <a href="https://www.saurenergy.com/solar-energy-news/vietnams-record-9-5-gw-of-rooftop-solar-addition-is-a-2020-success-story" target="_blank" rel="noopener noreferrer">Vietnam</a> in 100 working days, becoming the first Indian solar company to achieve this feat.&nbsp;<div id="contentadd" style="width: auto;display: flex;text-align:center;margin-left: 20px;">
<iframe id="ad94f04b" name="ad94f04b" src="https://secure.meilleurmedia.com/www/delivery/afr.php?zoneid=17&amp;source=https%3A%2F%2Fwww.saurenergy.com&amp;cb=INSERT_RANDOM_NUMBER_HERE&amp;ct0=INSERT_ENCODED_CLICKURL_HERE" frameborder="0" scrolling="no" width="728" height="90"><a href='https://secure.meilleurmedia.com/www/delivery/ck.php?n=a23dad63&amp;cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='https://secure.meilleurmedia.com/www/delivery/avw.php?zoneid=17&amp;source=https%3A%2F%2Fwww.saurenergy.com&amp;cb=INSERT_RANDOM_NUMBER_HERE&amp;n=a23dad63&amp;ct0=INSERT_ENCODED_CLICKURL_HERE' border='0' alt='' /></a></iframe>
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Dr. Hitesh Doshi, CMD, WAAREE Group said,&nbsp;“We are honoured to have been affirmed with the prestigious SP1A ranking by ICRA. We are also thankful to our stakeholders for their trust and confidence has helped us accelerate our growth journey and scale new heights. We will continue to be committed to customer-centricity, uncompromised service quality and affordable pricing. These recognitions push us to continuously innovate, improve and thrive.”
The ranking derives its strength from the company’s well-nurtured and established a professional relationship with stakeholders, positive customer feedback on projects executed and excellent after-sales service. It is also reflective of Waaree’s well-trained manpower with exceptional experience in the <a href="https://www.saurenergy.com/solar-energy-news/kptl-acquires-brazilian-power-td-epc-company-fasttel-engenharia" target="_blank" rel="noopener noreferrer">EPC</a> service.
WAAREE was recently recognized as ‘India’s Greatest Brand’ in Solar Industry by AsiaOne for FY. 2019-20. WAAREE has maintained its position as the Bloomberg Tier 1 manufacturer for the last 24 quarters. WAAREE serves over 5000 customers globally which illustrates the trust gained by the company over a period of 32 years of its existence.
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Waaree Energies has been assigned SP1A by ICRA emphasizing strong performance capability and financial strength to undertake solar projects

ICRA Accredits Waaree Energies with Highest ‘SP1A’ Ranking

MUMBAI, India, Feb. 20, 2021 /PRNewswire/ -- WAAREE Energies, India's largest solar module manufacturer and a leader in the EPC segment, has announced the commissioning of 16 MW ground-mounted solar project in&nbsp;Gavhankund, Maharashtra. The project, was executed for&nbsp;Waacox Energy Pvt. Ltd under the agrifeeder scheme of Maharashtra Govt for MAHAGENCO.
This plant is developed under the aegis of the Chief Minister's solar agriculture feeder programme. A solar agriculture feeder is essentially a 1-10 MW community scale solar PV power plant, which is interconnected to the 33/11 kV sub-station. The major advantages of this scheme is that apart from ensuring day-time reliable power for the farmers, it requires no capital subsidy from the government. Rather, it is cost-effective, thereby enabling reduction in subsidy.
Developed in the&nbsp;Warud Taluka of Amravati District,&nbsp;the plant is expected to generate more than 78,600 MWh power yearly. Plant has installed 60660 numbers of WAAREE make 330 wp Polycrystalline solar modules, two Inverter duty transformers of&nbsp;6250KVA, &amp; one 3500KVA, five inverters&nbsp;of 3125 kw.&nbsp;The Evacuation shall be at 33kV voltage Level at Temburkhera &amp; Shendurjana (warud) Substation.
Commenting on the completion of this prestigious project, Mr. Hitesh Doshi, Chairman and Managing Director, WAAREE Energies, said, "Agriculture is a major consumer of electricity, accounting for one-fourth or one-third of consumption in many States, Access to groundwater for irrigation depends on reliable and affordable electricity supply to run groundwater pumping. With the commissioning of this project we shall be able to contribute toward addressing concerns of livelihoods of the rural poor and food security of the country. The timely commissioning of this project reiterates our commitment towards high quality both in terms of seamless execution and time-bounded delivery mechanisms."
WAAREE has taken the stock that Two-thirds of the total irrigated area in India is powered by more than two crore electric and 75 lakh diesel pumps this is an important issue. The urgent need for providing agriculture with reliable and affordable daytime electricity makes it imperative for the sector to adopt such an approach. This initiative by Maharashtra govt offers a win-win&nbsp;solution&nbsp;for the farmers, government and discoms, and offers a much needed farmer-centric yet fiscally prudent pathway for the power sector. They not only provide a reliable supply of electricity, but will also help reduce the subsidy outgo of States.
WAAREE was recently recognized as 'India's Greatest Brand' in Solar Industry by AsiaOne for FY. 2019-20.&nbsp;WAAREE has maintained its position as the Bloomberg Tier 1 manufacturer for the last 23 quarters. WAAREE serves over 5000 customers globally which illustrates the trust gained by the company over a period of 30 years of its existence. WAAREE has record of executing a 50MW solar project in Vietnam in 100 working Days, becoming the first Indian solar company to achieve this feat.
About WAAREE Energies
WAAREE Energies Ltd. is the flagship company of WAAREE Group, and has the country's largest Solar PV Module manufacturing capacity of 2 GW. In addition, it is one of the leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and as an Independent Power Producer. WAAREE has its presence in over 350+ locations nationally and 68 countries globally.

/PRNewswire/ -- WAAREE Energies, India's largest solar module manufacturer and a leader in the EPC segment, has announced the commissioning of 16 MW...

WAAREE commissions 16 MW project for MAHAGENCO under Agrifeeder scheme

MUMBAI, India, Feb. 5, 2021 /PRNewswire/ -- WAAREE Energies, India's largest solar module manufacturer and a leader in the EPC segment, has emerged as the EPC Company of the Year: Industrial &amp; Commercial, 2020-21, in the annual edition of Rooftop Solar Congress 2021 Awards.
WAAREE was chosen on the basis of excellence in EPC service and project execution quality maintained over the years. WAAREE has emerged as the most preferred brand for Industrial and commercial Rooftop Solar solutions. WAAREE has already executed more than 10000 Rooftop solar projects till date, and commissioned over 600 MW of solar EPC projects in India. WAAREE solar modules have been shipped to 6 continents, across 68 countries.&nbsp;WAAREE has highly experienced and skilled team for design and execution of solar projects in timely manner.
Speaking on this event Dr. Hitesh Doshi, CMD, WAAREE Group said, "We are committed to provide End to end solar solutions to our stake holders while we maintain the highest order of Quality and service. Our customer firth approach has been the catalyst in our growth and being a preferred solutions provider. These recognitions push us to continuously innovate and improve."
WAAREE was recently recognized as 'India's Greatest Brand' in Solar Industry by AsiaOne for FY. 2019-20. WAAREE has maintained its position as the Bloomberg Tier 1 manufacturer for the last 23 quarters. WAAREE serves over 5000 customers globally which illustrates the trust gained by the company over a period of 30 years of its existence. WAAREE has record of executing a 50MW solar project in Vietnam in 100 working Days, becoming the first Indian solar company to achieve this feat.
Taking cue from the initiative of #vocalforlocal, WAAREE has launched a campaign to promote prosumerism, with tagline 'solar lagao, Apni Bijli Swayam Bano - Atmanirbhar ban jao!' WAAREE Energies currently has over 350 franchises and is planning to further expand its footprint globally. WAAREE aims to bridge the ever growing demand - supply gap of electricity, by making solar accessible to all and inch towards a viable indigenous ecosystem.
About WAAREE Energies
WAAREE Energies Ltd. is the flagship company of WAAREE Group, and has the country's largest Solar PV Module manufacturing capacity of 2 GW. In addition, it is one of leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and as an Independent Power Producer. WAAREE has its presence in over 350+ locations nationally and 68 countries globally.

/PRNewswire/ -- WAAREE Energies, India's largest solar module manufacturer and a leader in the EPC segment, has emerged as the EPC Company of the Year:...

WAAREE emerges as EPC Company of the Year: Industrial &amp; Commercial-2020-21

WAAREE emerges as EPC Company of the Year: Industrial & Commercial-2020-21

NEW YORK, Sept. 3, 2020 /PRNewswire/ -- WAAREE Energies ltd, India's Largest Solar panel manufacturer has received 300+ MW order to supply solar modules in California USA. The modules will be supplied for a project based in California which is likely&nbsp;get commissioned in second or 3rd quarter of 2021. The project shall install WAAREE's high efficiency 385, 390Wp MonoPERC modules. The renewable power generated by the project will be sold through a power purchase agreement in USA.
The modules supplied by WAAREE shall undergo rigorous quality tests and shall be inspected by one of the world's top third party agency. Recently WAAREE became the first company to earn IECEE CB certifications for its Bifacial Solar Modules. WAAREE houses IEC-CB-CTF, State-of-the-art laboratory for reliability testing and certification. WAAREE has already supplied over 3GW modules till date globally, and commissioned over 600 MW of solar EPC projects in India &amp; Southeast Asia.
Speaking on this achievement, Mr.Sunil Rathi, Director Sales and Marketing, WAAREE Energies Ltd., said, "This is one of the biggest order and shows the capabilities of Indian manufacturers to compete in global market. We have recently completed the supply of 50MW modules for a fortune 500 company in USA, and are expecting more such developments in USA. We plan to strengthen our base in USA by opening local office in California shortly. "
"We have 300MW capacity of high efficiency Bifacial and Monofacial Solar panels available for safeharbour this year," he added.
WAAREE solar modules have been shipped to 6 continents, across 68 countries. WAAREE has maintained its position as the Bloomberg Tier 1 manufacturer for the last 22 quarters. WAAREE modules are trusted and financed by over 50 leading banks and NBFCs globally. WAAREE is the only Indian solar company to be recognized as "India's Greatest Brand" in solar Industry. WAAREE serves over 5000 customers globally which illustrates the trust gained by the company over a period of 30 years of its existence.
About WAAREE Energies
WAAREE Energies Ltd. is the flagship company of WAAREE Group, and has the country's largest Solar PV Module manufacturing capacity of 2 GW. In addition, it is one of leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and as an Independent Power Producer. WAAREE has its presence in over 350+ locations nationally and 68 countries globally.

/PRNewswire/ -- WAAREE Energies ltd, India's Largest Solar panel manufacturer has received 300+ MW order to supply solar modules in California USA. The modules...

WAAREE bags $105 million order for solar modules from a US based developer

CtrlS builds World’s 1st Solar Powered Rated-4 Datacenter Building powered by Integrated Vertical Solar System from WAAREE
 14th Aug 20,&nbsp;&nbsp;
CtrlS builds World’s 1st Solar Powered Rated-4 Datacenter Building powered by Integrated Vertical Solar System from WAAREE
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CtrlS Datacenters Limited, Asia’s Largest Rated-4 Hyperscale Datacenter and managed services provider has deployed building integrated vertical solar PV system from WAAREE at its Mumbai datacenter facility. The system, with a capacity of about 1 MW, has been installed by integrating solar panels on all four walls of the facility, covering over 5,000 square feet of facade area. It is estimated that solar power system will help provide a CO2 emissions reduction equivalent to almost 7,000 trees per year. 
Waaree BIPV modules were installed on the Rated-4 Hyperscale Datacenter built by CtrlS where Custom designed aluminium rails were used as module mounting structure. Frameless Waaree BIPV panels were deployed on the facade. Each Waaree BIPV solar panel was installed with power optimizers to increase energy output from PV systems by constantly tracking the maximum power point (MPPT) of each module individually. They have the capability to monitor the performance of each module.
Mr. Sridhar Pinnapureddy, Founder and CEO, CtrlS Datacenters Ltd said, "The combustion of fossil fuels has led to dramatic rise in carbon dioxide emissions globally, and it is my belief that as a responsible business it is prudent to embrace clean energy. We are delighted to have partnered with WAAREE to take a major step in deployment of solar energy at our Mumbai Rated-4 Hyperscale datacenter. We chose to install the solar panels on all the four sides of the building instead of roof top solar as it provides large space for absorption of sunlight. We therefore replaced the conventional glass in our data center facility, with solar panels thereby generate higher power through clean energy and thereby reducing carbon footprint. Besides, the Waaree BIPV panels act as a thermal insulation by blocking the sun and thus also reducing the power consumption of the air conditioning system, thus saving on electricity bills considerably. He further added, "We are delighted to have found a suitable partner in WAAREE, who have played a key role in supporting our innovation in deploying clean energy”
Speaking on this achievement Dr. Hitesh Doshi, CMD Waaree Energies Ltd, said , "We are happy to be part of such a innovative BIPV project and we are thankful to Ctrl S for not only giving us opportunity but implementing such great idea and making India’s first largest BIPV project. 
Waaree BIPV technology can be adapted to any building that requires a glass facade, including but not limited to skyscrapers, malls, apartments, modern homes, datacentres and many more existing Buildings, or the ones that are in design stage. The challenge of not only the space to mount Solar Panels is addressed by Waaree BIPV solutions but also the aesthetics and beauty of building is enhanced by replacing normal glass to solar panels. Waaree will continue to design and develop products to increase use of solar energy."
 
About Waaree Energies 
	 
Waaree Energies Ltd. is the flagship company of Waaree Group, and has the country's largest Solar PV Module manufacturing capacity of 2 GW. In addition, it is one of leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and as an Independent Power Producer. Waaree has its presence in over 350+ locations nationally and 68 countries globally.
About CtrlS Datacenters Limited 
	 
CtrlS is Asia's Largest Rated 4 Hyperscale Data Center and serves 60 of the Fortune 500 Global Multinationals and 108 of the ET 500 Indian Companies. 
The company is emerging as World's Largest Rated 4 Hyperscale data center. It operates one million square feet of data center space spread across seven data centers located in Mumbai, Noida, Bangalore and Hyderabad. The company has had a zero down time record since inception. The companies Mumbai data center facility is certified as World's first LEED Platinum certified v4 O+M data center by United States Green Building Council (USGBC). It's Mumbai DC2 Rated-4. Its Noida facility is India's only 100% Quake Proof and Air Pollution Free data center facility. Its Mumbai DC2 facility is completed covered by solar panels generating 1 MW of power. The company is soon planning to build a solar park spread across few hundred acres to generate power sufficient to run all of its data center facilities and eventually become carbon neutral. 
CtrlS has initiated its plan to expand its footprint by 5 million square feet. The company has acquired the land for construction of 2 million square feet hyperscale data center park in Navi Mumbai, another 2 million square feet hyperscale data center park in Hyderabad, while the plans are underway for 1 million square feet facility in Chennai.

CtrlS builds World’s 1st Solar Powered Rated-4 Datacenter Building powered by Integrated Vertical Solar System from WAAREE

Mumbai, 25 June 2020: Waaree Energies, India’s largest solar module manufacturer and a leader in the EPC segment, has emerged as the India’s Greatest Brand by AsiaOne Magazine &amp; URS Media International in the fifth edition of their awards. The process advisor for these awards and listing was Deloitte Touche Tohmatsu India. Waaree is now the first Indian solar company to be recognized as the India’s Greatest Brand the winners are judged on the basis of research across 16 industries, 1,200 brands and 62 sub-categories from multiple sectors.
Waaree was chosen on the basis of excellence in customer service and quality maintained over the years. Waaree has emerged as the most preferred brand for solar modules today, and is perceived by customers as the premium module supplier. The success story is slated to be covered by CNBC on 4th July. Waaree has already supplied near to 3 GW of solar panels till date globally, and commissioned over 600 MW of solar EPC projects in India. Waaree solar modules have been shipped to 6 continents, across 68 countries. With more than 140 tests performed at various stages of manufacturing, Waaree maintains its quality above global standards.
Speaking on this event Dr. Hitesh Doshi, CMD, Waaree Group said, "We are committed to not only meet but provide more than customers expectations from us . Our high quality Solar panels With commitment for delivery on time best in class Services has always given us customers preference. Waaree has invested huge resources in bringing superior products and services into the market and changing the consumer experience, which we will continue in time to come. We are thankful to each every Waaree employee, customer and All stake holders for their support and efforts in helping Waaree Brand achieve this feat in Solar Industry. " he added.
Waaree has maintained its position as the Bloomberg Tier 1 manufacturer for the last 21 quarters. Waaree serves over 5000 customers globally which illustrates the trust gained by the company over a period of 30 years of its existence. 
Waaree has already won over 100 Awards for its work in solar industry, in various categories. Taking cue from the initiative of #vocal for local, waaree has launched a campaign to promote prosumerism, with tagline "Solar lagao, Apni Bijli Swayam Bano – Atmanirbhar ban jao!” Waaree Energies is planning to further expand its footprint with 1000 franchises by the end of 2021. Waaree aims to bridge the ever growing demand – supply gap of electricity, by making solar accessible to all and inch towards a viable indigenous ecosystem. 

About Waaree Energies 
	Waaree Energies Ltd. is the flagship company of Waaree Group, and has the country's largest Solar PV Module manufacturing capacity of 2 GW. In addition, it is one of leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and as an Independent Power Producer. Waaree has its presence in over 350 locations nationally and 68 countries globally.

AsiaOne recognizes Waaree as “India’s Greatest Brand” in solar industry

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Waaree panels to solarize 84000 homes in Gujarat 13th Dec 19,&nbsp;&nbsp;Gujarat
Waaree panels to solarize 84000 homes in Gujarat<img src="content_gallery/waree-energies-plan-to-solarize.jpg" class="img-responsive center-block">
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Waaree, India's largest module manufacturer has started its supply of solar modules under PGVCL scheme. Waaree has completed supply over 6000 modules, which will be used to solarise over 800 homes. Choosing the right DCR Solar module is mandatory to receive the subsidies, and avoid any issues that may arise in future. Waaree has taken every step possible to make good quality DCR modules to the people of Gujarat, so that the modules comply the directives set by the government, and benefits of subsidies can be availed.
Waaree modules have been in great demand with integrators and end consumers preferring them for installation. Waaree eyes to take the significant share of market as is committed to give best service, through its sales in service network across Gujarat. These solar modules are manufactured at state of the art manufacturing facility in Gujarat, which has annual capacity of 2GW, and has world-class testing facility. The facility is largest in India, hence modules are easily available for immediate supplies.
Waaree ran a series of training and awareness programmes for integrators and end users to help them choose the right quality of DCR Solar modules which received a overwhelming response. Waaree eyes help solarize more than 84000 homes under PGVCL scheme in next 6 months. 
 

About Waaree:
Headquartered in Mumbai India, Waaree Energies is a part of Waaree Group founded in 1989. Waaree is both a Global leading manufacturer of solar PV modules and a provider of solar energy solutions, with over 2500 employees globally. With state-of-the-art module manufacturing facility of 2 GW Waaree is now the largest Module manufacturer in India. Waaree has delivered more than 2.5 GW of premium quality solar modules to customers in over 30 countries in the past 12 years. Waaree is the only Indian company to listed consecutively for 19 quarters in Bloomberg New Energy Finance's Tier 1 Module Manufacturers ranking in terms of bankability. Waaree has over 325 franchisees across India which is the largest sales and service network held by any Solar company.</div>

Waaree panels to solarize 84000 homes in Gujarat

Due to various policy driven and geo-political factors, the Indian solar manufacturing segment is equipped only to produce module equivalent to 3 GW or 3,000 MW. 
 
<img src="content_gallery/domestic-solar-pv.jpg" class="img-responsive center-block">
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Domestic solar PV module manufacturer Waaree Energies on Tuesday said it has increased its module manufacturing capacity by 500 megawatt to 2,000 MW. With the manufacturing facility based in Gujarat, the company has now upgraded the production capacity to 5.7 MW per day. The demand for solar energy has seen an uptake in the recent years with the current requirement holding strong at 25 GW.
The demand for solar energy has seen an uptake in recent years.
However, due to various policy driven and geo-political factors, the Indian solar manufacturing segment is equipped only to produce module equivalent to 3 GW or 3,000 MW.
"Waaree aims to bridge this demand–supply gap and inch towards a viable indigenous ecosystem. The company has on Wednesday reached the level of 2 GW from 1.5 GW expanding its module manufacturing capacity by 500 MW. This will create 550 direct and 350 indirect jobs in the sector," a company statement said.
The&nbsp;company has upgraded the production capacity to 5.7 MW per day, it added.
However, due to various policy driven and geo-political factors, the Indian solar manufacturing segment is equipped only to produce module equivalent to 3 GW or 3,000 MW.
"Waaree aims to bridge this demand–supply gap and inch towards a viable indigenous ecosystem. The company has on Wednesday reached the level of 2 GW from 1.5 GW expanding its module manufacturing capacity by 500 MW. This will create 550 direct and 350 indirect jobs in the sector," a company statement said.
The company has upgraded the production capacity to 5.7 MW per day, it added.
"The company has supplied over 2.5 GW of solar panels till date, and commissioned over 600 MW of solar EPC projects in India. With the recent expansion touching 2 GW, we foresee creating jobs in the surrounding villages, largely employing the blue-collar workforce," Waaree Energies Ltd Director Sales &amp; Marketing Sunil Rathi said.
Waaree Energies, the flagship company of Waaree Group, has India's largest solar PV module manufacturing capacity of 2 GW at its plants in Surat and Umbergaon in Gujarat.
The company has presence in over 300 locations in India and 68 countries internationally.
The company had also commissioned a 50 MW ground-mounted solar project in Vietnam in June this year.

Waaree Energies expands module manufacturing capacity by 500 MW to 2,000 MW

Waaree Energies commissions 2.5 MW 'group captive' solar project for Raymond<img src="content_gallery/Sembcorp-Energy-Indias-solar-plant.png" class="img-responsive center-block"> 

The open access plant was set up on turnkey engineering, procurement and construction basis with the fashion retailer holding 26% ownership of the plant.
Corporate buyers are increasingly favouring group captive projects that are exempt from the cross-subsidy surcharge the largest and most unpredictable component of grid charges for open access power.
Module manufacturer and EPC player Waaree Energies has commissioned a 2.5MWp&nbsp;open access plant&nbsp;in Ahmednagar, Maharashtra, for fashion retailer Raymond Group. The plant-developed under the&nbsp;group captive model will have electricity generation capacity of 38 lakh units/year and reduce carbon dioxide emission by approximately 3650 tonnes per annum.
Speaking about the project,&nbsp;director Sunil Rathi said, "The group captive model is catching wind on account of the lucrative investment sharing, which reduces the capital investment and in turn the end user cost by 50% when compared to a captive open access solution.
"Due to part ownership of the plant, users can avail energy at an approximate average of Rs1.5 per unit, which only includes the distribution loss, wheeling and banking charges, versus Rs4 per unit in case of captive plants. This presents the end consumers, predominantly large-scale commercial and industrial players, with a financially lucrative proposition while helping them to achieve their sustainability goals.&nbsp;
"The project with Raymond Group, in association with Shahane Solar Power, was a great opportunity for us to showcase our capabilities as a turnkey EPC player, and we hope to strengthen this partnership further,"&nbsp; he added.
Vishnu Singh, DGM-procurement, Raymond said, "As a global entity, we are always looking at options to adopt sustainable business practices focusing on solar energy as the preferred source of energy. As part of the one-of-a-kind 'group captive' solution that Waaree offered, we have witnessed significant savings in our electricity cost, with minimal investment.
Group captive solar projects&nbsp;are those where the consumer of the power holds at least 26% of the equity ownership. Under India's Electricity Act (2003), these projects are exempt from the cross-subsidy surcharge the largest and most unpredictable component of grid charges for&nbsp;open access power.

Waaree Energies commissions 2.5 MW 'group captive' solar project for Raymond

Waaree Energies cumulative solar module shipments nearing 2.5GW 
<img src="content_gallery/Waaree_CI_Rooftop.png" class="img-responsive center-block"> 

Waaree has observed the highest cumulative demand has come from Western India, due to the C&amp;I sector. Image: Waaree 
 

India's largest solar panel manufacturer, Waaree Energies said it was closing in on achieving cumulative solar module shipments of 2.5GW as its recent capacity expansions took nameplate production to 1.5GW.&nbsp;
Waaree noted that it had shipped PV modules to 6 continents, across 68 countries, while India remained its key market.&nbsp;
Waaree has observed the highest cumulative demand has come from Western India, due to the C&amp;I sector, while Southern India was growing, due to large-scale PV power plant projects. However, the company noted that the India residential segment had experienced a 60% increase in demand, compared to 2018, on account of government policies.
Waaree also noted that the overall solar PV market has witnessed growth of 40% since 2018.
Sunil Rathi, Director Sales &amp; Marketing, Waaree Energies Ltd said, "Waaree Energies has witnessed an increasing demand for clean energy in India and abroad. This is primarily due to the various awareness drives by the RE 100 mission. Moreover conventional sources of energy will now have to attain solar grid parity due to the cost effectiveness and this proposition has become a hit in the corporate segment.�
Waaree recently talked to&nbsp;PV Tech&nbsp;about its use of 'Merlin' module technology that is also fabricated for flexible solar substrates.

Waaree Energies cumulative solar module shipments nearing 2.5GW

Waaree Energies ventures into Vietnam with a 49.5 MW solar project 4th Jun 19,&nbsp;&nbsp;New Delhi
Waaree Energies ventures into Vietnam with a 49.5 MW solar project
- International business to contribute over 15% to the overall revenue<img src="content_gallery/waaree-ventures-into-vietnam.jpg" class="img-responsive center-block"> 

New Delhi, June 4, 2019: Waaree Energies, India's leading solar PV manufacturer and leader in the EPC and rooftop segment, has announced the commissioning and inauguration of their 49.5 MW ground-mounted solar project in Vietnam. The project, in association with Song Giang Solar Power JSC, marks Waaree's footprint in South East Asia. Developed in the Khanh Hoa province, the plant is expected to generate more than 78,600 MWh per year. Waaree's international projects are expected to contribute over 15% to their overall revenue in FY 2019-20; and this project will mark the completion of over 600 MW Solar EPC projects.
The project, approved by Vietnam Electricity for 45 MW AC, 49.5 MWp DC, has Waaree as the turnkey EPC partner and the brand will also be responsible for the supervision of the plant's Operations and Maintenance. Aligned with the objective of achieving Vietnam Government's target of 12 GW from solar installations, this project will mark Waaree's presence and expertise internationally. Vietnam, one of the 20 fastest growing economies in the world, has witnessed USD 6.8 billion investment per year in the power sector. Tapping into this growth potential, Waaree's strategic foray into the Vietnamese market has also generated over 500 jobs for locals residing in the region. 
Speaking on the project, Sunil Rathi, Director, Waaree Energies says, "Demand for energy in Vietnam is expected to increase by 10% by 2020 and Waaree is targeting this growing demand. With 100 MW international projects in the pipeline, we are looking forward to aid the solar transition globally. The project is a testament to the quality of work Waaree has delivered till date and the faith that big scale players have in Waaree, across the globe. We pride ourselves with our excellent quality standards which are at par with our international counterparts, making us a significant player in the global industry. Our 5 years projections indicate a substantial growth in our international operation."
Being Waaree's first solar power plant in South East Asia, it has a direct current (DC) feature, which has been installed on a 60-hectare site in Cam Ranh City. Local state-owned power company, 'Vietnam Electricity', will be the purchaser of the plant's output and has signed a contract for 20 years based on the feed-in tariff (FiT), set by the Vietnam government. Waaree Energies has clientele spanning across 68 countries, and has a significant revenue stream from their PV manufacturing, franchise and EPC segments.

Waaree Energies ventures into Vietnam with a 49.5 MW solar project

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Waaree Energies Launches the Next Gen Solar module in India 30th May 19,&nbsp;&nbsp;
Waaree Energies Launches the Next Gen Solar module in India
India's first 400Wp doublet modules are projected to be the future of rooftop solar 
		With these modules, Waaree is looking at an exponential growth trajectory in FY 19-20
&nbsp; 
Mumbai, XX May, 2019 � Waaree Energies Ltd, India's leading EPC player and largest solar PV manufacturer, has launched India's first 400 Wp cut cell module series called Super 400 which is touted to be the future of rooftop solar. The Super 400 series is a Mono PERC Module, with a 400Wp output and the Super 400 Pro Module, which is a Bifacial module, with up to 30% higher output. In case of partial shadow, the Super 400 series provides enhanced power output, i.e. over 50% higher than regular best-in-class modules. Manufactured at Waaree's 1.5 GW module manufacturing plants in Gujarat, the module has a life of minimum 25 years, and comes with Waaree Energies' acclaimed maintenance service. 
With product innovation at its core, it has been indigenously developed to give impetus to the growth of the rooftop solar segment. These modules can be deployed with the lowest inter row spacing within a power plant, and hence, the area required for the installation of Super 400 Series modules is less by 5% to 20% than that required by other modules. Despite the lower requirement of space, the modules provide 8% higher output as compared to some of the best-in-class modules available in the market today. Based on the potential of their new offerings, Waaree is looking at an exponential growth trajectory with significant contribution towards their order book. The Super 400 Series alone is expected to contribute significantly in FY 2019-20. 
Sunil Rathi, Director, Waaree Energies, said, "Waaree believes that the best way for India's transition towards a solar reliant country is to promote rooftop solar adoption and maximising output in rooftop projects. Super 400 is a one-of-a-kind doublet module with 400Wp capacity that is aimed at providing higher energy output in such projects. The module is apt for both commercial and residential projects, especially when space allocation is a challenge." 
"Moreover, through our expansive network of 270+ franchise units across the country, Waaree is providing customised modules according to the requirements of the project. Our exceptional post-sales service is an added advantage to our partners, and is the reason why we are on the top of the industry's consideration," he added. 
According to a Bridge to India report, India is likely to add 80 GW in the next 5 years, wherein the contribution of the rooftop segment will be closest to 10%, with 8 GW. Rooftop installations have observed a year-on-year growth of 66% in 2018, but still only make up 12% of the total solar installations in the country. Due to land limitations, extracting the maximum energy out of such rooftop projects is vital to meet the 175GW renewable energy goal by 2022. With this focus on the rooftop market, Waaree expects the entire market to eventually shift to 400Wp modules, owing to their higher output and efficiency, as well as lower space utilisation.</div>

Waaree Energies Launches the Next Gen Solar module in India

Waaree Energies sets up 14 solar power hubs in West Bengal 10th Apr 19,&nbsp;&nbsp;New Delhi
Waaree was an EPC player in 15 MW power project at the airport, 3.3 MW at the Metro, 8.89 MW with leading steel industry, 830KW leading FMCG and 800 KW with WBSEDCL.<img src="content_gallery/solar-power-hub.jpg" class="img-responsive center-block">
Waaree Energies, a solar PV manufacturer with a capacity of 1.5 GW, has set up 14 solar power centres in the state. The main objective of these centres spread over 14 districts is to make inroads into solar projects segment. 
The company is also a leader in the Engineering, Procurement and Construction (EPC) and rooftop segment. Waaree was an EPC player in 15 MW power project at the airport, 3.3 MW at the Metro, 8.89 MW with leading steel industry, 830KW leading FMCG and 800 KW with WBSEDCL. 
Commenting on their future plans for the region, Nitin Kapadnis, senior VP (Franchise), Waaree Energies, said: "West Bengal is a promising market for the solar industry with notable year-on-year growth of approximately 100% and faster adoption of solar, especially in the commercial segments. 
West Bengal, being one of the most populated states in the country, has observed a significant growth in adoption of solar energy. This also shows that consumers are cognizant of the electricity savings of approx. Around 50% that are achievable through solar electrification."

Waaree Energies sets up 14 solar power hubs in West Bengal

29th Mar 19,&nbsp;&nbsp;Mumbai
The modules are expected to increase the efficiency of these EV by 10-25 per cent.<img src="content_gallery/customized-solar-modules-for-electric-vehicles.jpg" class="img-responsive center-block">
Waaree Energies, India's largest solar PV manufacturer and a leader in the rooftop segment, has launched customized solar modules, a solar power solution for&nbsp;Electric Vehicles. These indigenous modules, specially designed for the transport&nbsp;industry&nbsp;in India, are portable, flexible, lighter, durable and more efficient, making them ideal for vehicles.&nbsp;
 They are ideal for vehicles where energy is required for many services including auxiliary functions like refrigeration etc. Since these modules are indigenously developed by Waaree, it would be cost effective. After successfully associating with&nbsp;Bergstorm&nbsp;&amp;&nbsp;Motherson Sumi, Waare Energies is now looking for more such partners to revolutionise the industry.&nbsp;
 Solar power will definitely play a pivotal role for this transition, based on it being self-sustained, and cost effective. They have been conceptualized in line with India's goal of leading the world in transforming the transport industry as declared by the Finance Minister during the Interim Budget 2019.&nbsp;
 As a front-runner in the industry, Waaree Energies understood the need and developed these for Electric Vehicles.&nbsp;
 Sunil Rathi, Director, Waaree Energies said, "Waaree Energies has always aimed at transforming India into a solar reliant country and be at par with its international counterparts. With Waaree customized solar modules, Waaree is aiming to cater to the electrical vehicles that are expected to hit Indian streets in the coming years."
"With the flexibility and durability of these modules, we expect a great outcome. It will significantly reduce the frequency of charging the vehicles and contribute to reducing climate change. These modules are expected to increase efficiency by 10- 25 percent."&nbsp;
 With Waaree customized modules, Waaree Energies is looking to create waves in the way Indians think of transportation. Built in their Surat plant, the modules are set to deliver on its promise of reducing current costs of maintaining EVs.&nbsp;
 In addition to supporting EV, these panels can also be installed on commercial vehicles. They hope to make 'charging on the move' the new disruption in the automobile industry.

Waaree Energies introduces customized solar modules for electric vehicles

Designed to be portable and flexible, the modules are ideal for electric vehicles to support energy requirements of auxiliary functions like refrigeration�increasing the efficiency by 10-15%.<img src="content_gallery/solar-panel-installed.jpg" class="img-responsive center-block"> 

Exploring new markets to boost its revenues, Mumbai-based solar PV panel manufacturer and EPC contractor Waaree Energies has launched solar modules to support energy requirements of services like refrigeration in electric vehicles. These modules are indigenously designed to be portable, flexible, lighter, durable and more efficient, making them ideal for vehicles.
Sunil Rathi, Director, Waaree Energies said, "With customized solar modules, Waaree is aiming to cater to the electric vehicles that are expected to hit Indian streets in the coming years. With the flexibility and durability of these modules, we expect a great outcome. It will significantly reduce the frequency of charging the vehicles and contribute to reducing climate change. These modules are expected to increase efficiency by 10-25%.�
Built in their Surat plant, the modules are set to reduce costs of maintaining EVs. In addition to electric vehicles, these panels can be installed on commercial vehicles. They are expected to make "charging on the move� the new disruption in the automotive industry.
Waaree Energies claims to have the country�s largest solar PV module manufacturing capacity of 1.5 GW. In addition, it is one of the leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and an independent power producer. The company has presence in over 250 locations nationally and 68 countries globally.

25th Feb 19,&nbsp;&nbsp;New Delhi
Solar equipment maker Waaree Energies Monday said it is eyeing Rs 400 crore turnover from rooftop solar in the next financial year.
The company plans to add 100 MW of rooftop solar in 2019-20, it said in a statement.
With a significant investment in the segment, the company is present through both CAPEX &amp; OPEX models, Waaree Energies said.
The company has completed projects in Mumbai, Delhi, Chennai, Kolkata and Surat to name a few.
Waaree Energies offers end to end solutions, as an EPC and panel manufacturer, while also extending its operations and maintenance services and providing robust energy storage solutions.
Rooftop solar has become a viable option for companies across industries. Rooftops are usually dead assets, which can be monetised if used for solar installations leading to ecological and pricing benefits and a sustainable energy resource.
Waaree Energies is the flagship company of Waaree Group, and has solar PV module manufacturing capacity of 1.5 GW. Waaree has its presence in over 250 locations in India and 68 countries globally.

Waaree Energies eyes Rs 400 cr revenue from rooftop solar in FY'20

The Honourable Prime Minister of India, Shri Narendra Modi, today inaugurated a number of Solar Power Plants in Surat, with a collective capacity of 1 MW, by Waaree Energies, the preferred sustainability partner to Indian corporates. The Solar power plants are located at various locations in the city, which include three water distribution plants and 18 municipal schools, and cumulatively account for 1 MW of energy generation. With the latest addition of the plants, the Surat Municipal Corporation has become the first Municipal Corporation in the country which is not dependent on any electricity company for water distribution. The electricity generated through the solar power plants will be used for the city's water works, water distribution centre, and water treatment plant. This propels Waaree Energies as a partner to the smart city of Surat in its journey towards achieving its energy demands through renewable energy.<img src="content_gallery/Narendra-Modi-Inaugurates-Surat.jpg" class="img-responsive"> 

Waaree Energies is the Turnkey Engineering Procurement and Construction (EPC) partner for the project, besides also extending its acclaimed maintenance and operation services for 10 years. The plants are expected to generate close to 1.20 Mega Units, which will result in an electricity cost saving of around INR 6 Lakhs per month. The power plants are located across Magob Water Distribution Station, Simada Water Treatment Plant, and Udhna Water Distribution Station. With this transition to solar power, the plant at Udhna is witness to a reduction of 29% on its existing electricity consumption, while Simada has seen a reduction of 21%, and Magob of 23%. Being India's largest Solar PV manufacturer, Waaree Energies has also contributed 2,925 Waaree Poly crystalline solar modules to the power plants. The project design was approved by TERI and was completed in record 50 days by Waaree, across all 18 sites. 
	 Commenting on the occasion, Sunil Rathi, Director, Waaree Energies, said, "We are extremely honoured to have partnered with the Surat Municipal Corporation for the solar power projects. We were drawn to this project as Surat has been a frontrunner in the transition to renewable resources for energy generation, and is fast becoming a sustainable model smart city. This has helped the Government save approximately INR 6 Lakh per month. As such, we are very confident that projects like these will help bring about the transformation of the solar energy sector, and also generate the necessitated awareness among people."
&nbsp;
About Waaree Energies
Waaree Energies Ltd. is the flagship company of Waaree Group, and has the country's largest Solar PV Module manufacturing capacity of 1.5 GW. In addition, it is one of leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and as an Independent Power Producer. Waaree has its presence in over 250+ locations nationally and 68 countries globally.

PM Narendra Modi Inaugurates Surat Municipal Corporation Solar Plant Developed by Waaree Energies

India�s Prime Minister Narendra Modi inaugurated the prestigious National Salt Memorial on the 150th death anniversary of Mahatma Gandhi. The memorial was built to honour the famous Dandi March by Mahatma Gandhi. With a unique combination of history and innovative technology going hand in hand, the memorial houses various artefacts and souvenirs of the famous freedom fighter along with 41 solar trees. Waaree Energies, India�s leading solar PV manufacturer was the partner in supplying solar panels for these trees. With highly efficient 370 Wp mono crystalline panels, the solar trees have the capacity to generate 182 kWp and are installed in such a way that they are capable of meeting the energy demand of the entire memorial, thus making it a net zero energy building.
Waaree Energies takes immense pride in supplying solar panels to a memorial of this stature. Waaree Energies has made its mark in the industry with consistent supply of high quality and reliable modules and services, through state of the art technology and service delivery.
Waaree Energies Ltd is the flagship company of Waaree Group, and has the country�s largest solar PV module manufacturing capacity of 1.5 GW. In addition, it is one of the leading players in India in EPC services, project development, rooftop solutions, solar water pumps, and an independent power producer. Waaree has presence in over 280+ locations nationally and 68 countries globally.

National Salt Memorial, Dandi goes solar with Waaree Energies

LEH, Jan 1: Waaree Energies, India�s largest solar PV manufacturer, today unveiled its 25 KW rooftop solar project at Himalayan Institute of Alternatives (HIAL).
The project is done by Waaree Energies under its CSR programme and is part of its ongoing efforts to bring the current wave of solar revolution to Ladakh. HIAL has established its position as a renowned institute in the region, founded by the visionary Sonam Wangchuk. HIAL is expected to save close to INR 2 lakh per year. The installation of this project is of critical importance as solar power brings much needed respite to the people of Ladakh, since the region is cut off from the Kashmir valley for the most of winter.
 
The project has installation of 20 KW Waaree 325 Wp modules, which will help meet the power requirements of the campus, whereas the 5 KW Merlin � Flexible modules will power the Greenhouse shelter. Waaree Energies not only donated the panels, but also ensured their implementation and commissioning. The local climatic conditions, especially during the cold winters, make it imperative to have solutions that ensure self-sustainability within the region with respect to energy. Solar power presents the optimal option as Leh enjoys clear skies with a high irradiation. 
Commenting on the occasion, Sunil Rathi, Director, Waaree Energies said, "The project is further to our commitment of making energy, especially solar, accessible to all. We have installed our indigenous systems at 1250 + Households, which are yielding over 210,000 litres as output. As we were looking at associating with organisations and individuals who are working towards bettering the society, HIAL became the natural choice. It was a pleasure to associate with a dynamic person like Sonam and HIAL.� 
Sonam Wangchuk said, "Waaree Energies was our preferred choice when we decided to transition to solar energy at HIAL. We were well aware of Waaree�s long standing excellence in quality and service, and have first-hand seen their products and solutions. My inclination towards innovation found the perfect fitment with Waaree Energies, and we hope this is the start of a long association with them.� 
Sonam Wangchuk, who was recently awarded the Ramon Magsaysay Award, is an engineer and renowned education reformist from Ladakh. The founder of SECMOL and the Ice Stupas, he was the inspiration behind Amir Khan�s character in the Hindi film 3 Idiots, propelling his efforts in Ladakh to the public eye.

Waaree Energies donates solar solutions to HIAL in Leh

Solar power solutions provider Waaree Energies Friday said it has bagged a contract to set up 60 megawatt (MW) ground mounted solar project in Vietnam. 
The project, which is being developed in association with a leading utility scale provider, on turnkey basis, will marks Waaree Energies' expansion to South East Asia market, the company said in a statement. 
Being developed in Khanh Hoa province of the country, the project has been approved by EVN (Vietnam Electricity) for 60 MW and is expected to generate 106,000 units per year, once commissioned, it added. 
The power generated will be used for feed-in tariff, which will further aid in adoption of solar energy in the country, which has set a target to set up 12,000 MW of solar power capacity, the statement said. 
"Waaree Energies has been a preferred EPC player in India, and is committed towards making solar energy affordable and accessible. We plan to extend this commitment globally and are actively looking at opportunities that aid transition to solar power," Sunil Rathi, director- sales and marketing, Waaree Energies 
He said the company already have a pipeline of 100 MW to be executed in next six months internationally and 250 MW in the country. 
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				The power generated will be used for feed-in tariff, 
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Waaree Energies bags 60 MW solar project in Vietnam

Waaree Energies Limited successfully completed solar rooftop across all 12 stations of Mumbai Metro. This project was very critical as it is a public utility and heavily crowded all the time. Even though the chances of accidents were very high, Waaree Energies completed the project with high quality and Zero accidents. Waaree Modules are installed across all the roofs of all the metro stations. The entire rooftop solar power generating system has installed capacity of 2.29 MW which is around 30% of Mumbai Metro�s total power usage. This project will powerall Mumbai Metro stations with Waaree Solar PV modules. This will also result in the savings of carbon emission of approximate 2700 tons per annum.

Waaree Energies Successfully completed 2.29 MW Rooftop project for Mumbai Metro.

Customer Solutions Model makes us stand out 24th Oct 17,&nbsp;&nbsp;
At Waaree, we treat customers as our partners. We believe in working towards providing solutions that they have been looking for and not just giving them our product, Hitesh Doshi, Chairman &amp; Managing Director, Waaree Group, tells EnergyNext
Waaree is a renowned name in the solar sector. How has the journey been so far?
<img src="content_gallery/Hitesh-Doshi_article-img.jpg" class="img-responsive" align="left" hspace="10"> It has been a learning experience since we took up the cause for promoting solar power in 2007. We got a great deal of insight into the solar energy sector from the US, Japanese and the European market models. This gave us an impetus to position ourselves better in the Indian market. We started our operations as an export-oriented company. It was only after 2010 that we started focusing on the Indian market. It has been an enriching journey so far and we have learnt along the way that a lot of players look at the solar power sector as a short-term business venture. But, the companies that are here for a long haul, say for next 50 or 100 years, they will be the ultimate winners. This has been the biggest takeaway for us.
What are your core strengths that make you stand out from other players?
What makes Waaree stand out from the rest of the players is its �customer solutions model�. We treat customers as our partners. We believe in being closer to the customer as much as possible, and work towards providing solutions that they have been looking for. We don�t just offer them the product; we make sure that they get what they want. Waaree�s approach towards doing business is different. We don�t rush into closing the deal and getting the order. We believe in having a long-term relationship with our customers.
When it comes to manufacturing, we strive to bring new technology every time. Q We try to improve our supply chain to reduce delivery time and facilitate quick delivery of the product to the end customer. We also focus on adding more and more test and quality check equipment to our production line to make sure that the product works efficiently. Because of all these checks and balances, our performance speaks for the company. One of the very first MW plant, the 2.2 MW plant in Germany that we built in 2009, is still performing well. It has been eight years and counting, we are still very satisfied with its performance.
Waaree Energies has joined hands with US-based Merlin Solar for incorporating �Merlin� technology. Tell us more about this path-breaking technology.
Let me explain this technology with an example. In India, even if you come up with the best model, it develops cracks when you try to transport it from the factory to the site due to the conditions of roads here. Once it develops the micro crack, it goes to the hot spot and 4-5 years later the performance deteriorates. At Waaree, we got the opportunity to replace modules for certain locations where the hot spot and micro cracks were developed. We have been striving to bring a technology in India to find a solution to this problem. Then we started looking into what more can we offer. With Merlin, we are able to lower the cost of structure as well as lower the cost of ownership. We have been able to offer flexible modules that can be used in multiple applications. So this technology improves the efficiency and lowers the cost of installation of solar modules. It transforms solar modules into less expensive, higher power generating panels. The modules are lighter, produce more power, and are more rugged and durable. And of course no micro cracks and hot spot anymore .Trust me, there is no substitute to this technology in market.
What are your views on the GST?
GST is a positive step for the country. If we talk about the solar sector, GST gives freedom from many taxes. However, the problem for module manufacturers like us is that we will be requiring much more working capital now as the tax on the equipment or raw material which we are buying is higher than the finished products. As a model manufacturer in India, we have a tough competition from China. When we import, we just pay the 5 percent of GST and no other taxes. But if we manufacture in India, we have to shell out up to 18 % GST and heavy import duty on raw materials. Hence, I would say that GST has added to the woes of the Indian module manufacturers. For EPC also there is no clarity and the entire business is virtually on hold .Yes, it is a good initiative for the country as a whole and we hope the government will come up a solution soon.
As a promoter of �Make in India�, do u think we can match the Chinese prices in the near future?
Let us understand first what determines Chinese prices. Their entire price structure is like an ecosystem. They have the luxury of government incentives, export incentives, more dollars coming into their country and they have more employment opportunities. So their supply chain is so strong that the logistics arrangements are bound to be strong along with finance cost and the availability of finance. Hence, prices there are not only determined by the manufacturers, but they are entirely managed by the supply chain and eco system.
Today, if I want to buy 10 tonnes of good quality aluminium dully anodoised, I cannot buy it from India. The quality of anodising is a big challenge here. If I want to export from India, it takes three to seven days while China takes less than 24 hours. We need to look into the entire eco system. Going back to the cost structure, if Chinese companies want to make poly silicon, they will put the poly silicon plant next to the hydropower plant where the cost of power in China is below Rs 2. As a manufacturer, without the total ecosystem and the government support, it will always be difficult to bring the product cost on par with that of China.
India has set a target to achieve 100 GW of solar power by 2022. What would be your contribution?
We will definitely work towards increasing our market share. We will be starting a new facility by December which will give us additional 1.2 GW modules. We are all working towards achieving the capacity of 2 GW modules before March, next year.
What according to you are the challenges of the solar power sector?
While talking about the power sector, if discoms have money and they are making good profit then solar power will reach all. Some sections of people think it is their birth right to get free electricity or not pay market price for the power they use. I would like to request the government to give subsidy to people in cash so that they maintain the habit of paying bills. And the electricity supply of those people who are not paying their bills for a long time should be cut. Sometimes, privatisation of discoms may also help.

Customer Solutions Model makes us stand out

The following is from a conversation Mercom India had with Sunil Rathi, director of sales and marketing for Waaree Energies on the current state of Indian solar market.
<img src="content_gallery/Waree-Sunil-Rathi.png" class="img-responsive"> 
What do you have to say about the Indian solar sector right now?
It is tough, full of surprises, and promising. It�s tough because growth has come in spurts, it�s full of surprises because it is still developing and we�re seeing new policies (state and central), and it�s promising because the government has set a clear target and the growth we�ve seen in the past two years gives hope to everyone.
We have grown exponentially in the past three years and � here I am quoting your (Mercom) numbers � solar prices have declined by more than 70 percent. New policies are being developed to tackle these new challenges.
Despite the exponential growth of the Indian market that you pointed out, we see that you are exporting a good portion of your manufactured products. Why is that?
There is a supply shortage in China as well as heightened demand in China, the U.S., and Europe. So, we are supplying them.
What are the major challenges you face when competing with Chinese suppliers in India?
The competition is not fair. It is not a level playing field when someone is dumping goods at cheap prices. If they are sending supplies to India at less than the manufacturing cost, how are we supposed to compete with them?
They have kept their module prices high in other markets, which compensates them for the cheap prices in India. These companies aren�t even dumping at a loss in India because this cross subsidization balances out their costs.
Are there any plans for scaling up further in India?
Yes. This year our manufacturing will be a minimum of 1.2 GW and a maximum of up to 1.7 GW. In the past four years, we have spent a substantial amount on R&amp;D. We want to lead the sector and that is only possible by investing in cutting-edge technology in order to develop high-quality products. We are also setting up an inverter manufacturing unit in India.
Do you have any comments on the anti-dumping case?
This should have been done a bit earlier. We are late as a nation in this. But, now, the government has started the requisite procedure.
You said we are late as a nation. What about in 2014&nbsp;� when anti-dumping petitioners took back their petition?
In 2014, the sector was not as developed as it is today. It could not supply itself. Back then, anti‑dumping (tariffs) would have slowed down growth because local manufacturing capacity was negligible � hence the petitioners saw logic and took back the petition.
Now, we have set cell and module manufacturing capacity that can be scaled up within months to consistently supply close to 8 GW of modules and 6-7 GW of cells. There�s no backing out of the petition this time around.
How has the Goods and Services Tax (GST) affected the sector?
The GST has created a lot of uproar in the sector, and the ambiguity that surrounds the applicable rate slabs isn�t helping the sector.
Even now, as a module manufacturer, the GST is straight-forward 5 percent. But, as an EPC (engineering, procurement, and construction) developer, even now I�m not sure regarding the various applicable GST rates for various components like inverters, BOS (balance-of-system equipment), etcetera.
What do you think about the viability of low solar tariffs?
Yes, these tariffs are viable. If companies are bidding that means they have done their math and it makes sense to them. Solar projects are more of financial engineering. If interest rates go down by 0.25 percent or 0.50 percent, then tariffs at ₹2/kWh can be viable for few players. The ease of borrowing has increased in India.
World Bank Group members, ADB, Middle East financial institutions, and others are looking at the Indian market as a new avenue and this has made huge funds available to developers.
What will Waaree�s strategy be in the face of increasing market competitiveness?
Quality services and tariff competitiveness are where we will be ahead of the rest. We believe in delivering quality products at the right price and providing credible services. Doing this will ensure that we stay ahead of the pack.
We have a good customer base and we will grow with our customers.
What about the proposed 7.5 GW Central Public-Sector Unit (CPSU) program?
It is a good initiative that provides visibility to local manufacturers. It is easy to invest when one has a visibility of three years.
This target will also lead to reduced prices for modules and cells because firms can plan for long-term investment when they are sure there will be demand. This will allow them to scale up according to a set plan.
What are some of the other challenges you have experienced?
Tendering should be consistent. Government tenders take place in bursts with long lulls in between. There�s activity for three- or four-months, then no tendering or auctioning for a quarter. The lack of consistent demand affects manufacturing.
Do you have any other comments?
The government of India should impose an anti-dumping duty as soon as possible, this will also bolster the Make in India program.

Anti-Dumping Tariff, Consistent Tenders Needed to Support Solar Manufacturing in India

Mr. Hitesh Doshi, MD and Chairman of Waaree Group, has received a Non-Theoretical Professional Knowledge Doctorate of Professional Entrepreneurship, majoring in Business Project Management from European Continental University (ECU) of State of Delaware, USA and their Assessing Institution UK- Commission for Consistent Learning (UK-CCL).
<img src="content_gallery/waree-PR-Hitesh-Doshi.png" class="img-responsive"> 
Dr. Doshi was recognized for his academic achievements,life long hands on work experience, and skills in business, with specific consideration of his vast knowledge in his field of profession. 
He started business in 1986 at the age of 19 and continued to lead various business. From 200,he successful forays in various aspects of the Renewable Energy industry and has taken several initiatives to accelerate the company�s top line and bottom line growth. His vision &amp; strategic business leadership are instrumental in establishing Waaree Energies in a leadership position in the solar industry. 
About Waaree Energies 
WAAREE ENERGIES Ltd. India�s leading manufacture of Solar PV Modules, is most diversified solar energy solutions company and EPC solution providers. It is part of the consortium of WAAREE Group which has been in business since 1989.Waaree Energies Ltd is on the forefront of developing newer solar products, solutions and services towards enabling our customers to gain the best returns on their investments. We have a State-of-the-art 550 MW manufacturing plant at SEZ �Surat. WEL have a presence in over 68 countries, serviced through our 26 sales offices in India and 8 offices globally in UAE, Europe, USA and Australia.

Hitesh Doshi, MD of Waaree Group, conferred with honorary doctorate by European Continental University

<div class="col-12 col-sm-12 col-md-12">
French Consulate heritage building installed Waaree's 144 Modules produce 5,700 units electricity per month 13th Jul 17,&nbsp;&nbsp;Puducherry
Waaree Energies Ltd supplied 144 solar panels on the roof top of the consulate building.
The heritage building houses of French Consulate of Puducherry became the first administrative building of the French government in India to go green.
Inauguration done by V. Narayanasamy (Chief Minister of Puducherry) with the renovated reception hall of the Embassy that can be completely lit by sunlight alone. Apart from replacing LED lights in the hall, the architects have constructed surfaces on the pillars that can bounce light back to the ceiling and diffuse it lighting up the entire central hall.
French Consul General in Puducherry Philippe Janvier Kamiyama said that as per an energy audit carried out in 2015, the embassy building fulfils the criteria for a five star rating,&nbsp;the highest level of certification of energy efficiency given by Bureau of Energy Efficiency (BEE).
Inspired by the United Nations Conference on Climate Change held in Paris during December 2015 (known as COP 21), the Embassy of France in India decided to implement several projects to make the Puducherry Consulate building environment friendly during the year 2016.
Waaree Energies Ltd supplied 144 solar panels on the roof top of the consulate building. The 45.36 kW capacity roof top on-grid solar system produces on an average 5700 units per month. "Since mid-July, the solar plant has produced more than 33,000 units of power thus saving more than ₹2.3 lakh, he added.
Mr.Kamiyama said: "The continuous technical improvements and change in user habits over more than a decade are bearing fruits for making this consulate a very environment friendly building. While this building consumed 53,358 units of power in July 2002, the bill for July 2016 shows 16,889 units, a reduction of more than 68%, an indicator of all the efforts undertaken both in the domains of conservation and production.
FCH Inauguration ceremony through By V. Narayanasamy
We are glad to achieve this phenomenal milestone in Puducherry. The impact of the solar energy initiative is observable and quantifiable. The heritage building of french consulate of Pondicherry absolutely lit by sunlight . This project reiterates our commitment towards bringing the latest and the best technology in solar industry for sustainable development in the renewable energy sector of the country. I congratulate team Waaree for making this possible,said Hitesh Doshi, Chairman and Managing Director, Waaree Energies Limited</div>

French Consulate heritage building installed Waaree's 144 Modules produce 5,700 units electricity per month

Waaree will supply power from the solar power plant which spreads across 100 acres at Khetusar in Rajasthan to MSL Plant for 25 years

 
Waaree Energies Ltd. has announced that it has commissioned 23 MW solar power project at Khetusar in Rajasthan. The commissioned solar project is owned by Maharashtra Seamless Ltd. (MSL), a Group company of D.P. JINDAL. 
Waaree will supply power from the solar plant which spreads across 100 acres at Khetusar in Rajasthan to MSL Plant for 25 years. The solar project commissioned in 120 odd days will help in electrifying MSL group and will create an estimated 500+ Local jobs. According to the company this Green project will reduce CO2 emissions 335800 tons per year. 
Speaking on the occasion,&nbsp;Hitesh Doshi, Chairman and Managing Director, Waaree Energies Limited&nbsp;said "With the commissioning of this project, once again we demonstrated our strong project development, engineering &amp; executing capabilities. Our commitment towards bringing the latest and the best technology in solar industry for sustainable development in the renewable energy sector of the country. We are delighted to make a contribution to our Hon'ble Prime Minister's commitment towards clean &amp; green energy through solar power generation. I congratulate team Waaree for making this possible."

Waaree Energies commissions 23 MW Solar Power project in Rajasthan

aaree Energies has been looking to raise funds. EY Advisory, Auditing &amp; Business Consulting Firm is running the processIndia's one of the largest module manufacturer, Waaree Energies has reportedly appointed EY - Advisory, Auditing &amp; Business Consulting Firm to raise a fund of USD 100 million.A close source to the company speaking to&nbsp;<a href="http://www.livemint.com/Companies/m7ofctx7cvEXKOYMQte34J/Solar-module-maker-Waaree-Energies-looks-to-raise-100-milli.html" target="_blank">Live Mint</a>&nbsp;said "Waaree Energies has been looking to raise funds. EY is running the process."Waaree's fundraising effort comes at a time when India's solar sector reached record low tariff levels in the auction conducted at the Rewa Solar Park in the state of Madhya Pradesh. Module prices are expected tumble down further in 2017.Another source aware of the development said the publication that Waaree Energies are trying to raise around $100 million.India's&nbsp;<a href="http://www.saurenergy.com/tag/Solar-power" target="_blank">solar power</a>&nbsp;generation capacity has crossed 10,000 megawatt (MW), a more than three-time jump in less than three years as government pushes for renewable energy sources to meet galloping demand. The milestone came as NTPC Ltd, India's largest power producer, commissioned a 45 MW solar power project at Bhadla in Jodhpur, Rajasthan.India solar power generation capacity stood at 2,650 MW on May 26, 2014. As much as 14,000 MW (or 14 GW) of&nbsp;<a href="http://www.saurenergy.com/tag/solar-projects" target="_blank">solar projects</a>&nbsp;are currently under development and about 6 GW is to be auctioned soon. In 2016, about 4 GW of solar capacity was added, the fastest pace till date. According to power ministry estimates, another 8.8 GW capacity is likely to be added in 2017, including about 1.1 GW of rooftop solar installations. Government is targeting 100 GW of solar and 60 GW of wind energy capacity by 2022. Total&nbsp;<a href="http://www.saurenergy.com/tag/renewable-energy" target="_blank">renewable energy</a>&nbsp;generation capacity is envisaged at 175 GW by 2022.Government is working on a policy to boost large-scale solar equipment production facilities and make domestic manufacturing of solar power generation equipment competitive vis-�-vis other countries such as China.<a href="http://www.saurenergy.com/tag/Solar-module" target="_blank">Solar module</a>&nbsp;prices are expected to continue declining in 2017 as global supply continues to exceed demand. As the largest supplier and installer of solar module, China will continue to drive global pricing. The country's demand is expected to be up to 20% lower than in 2016 - as against a record 34 GW of installations in 2016, it is expected to add only about 28 GW in 2017 - putting downward pressure on prices said Bridge to India in its latest report.

Stay up to date with the latest news and announcements from around our business. Here you can easily access the press release, latest news and resources

Waaree Energies Ltd, India�s leading Tier 1 solar panel manufacturer&nbsp;&nbsp; today announced that their modules, in addition to being of the highest quality, are environmentally safe in line with international standards. Waaree Modules now come with RoHS-compliant versions.RoHS stands for "Directive on the&nbsp;Restriction&nbsp;of the use of certain&nbsp;Hazardous&nbsp;Substances in electrical and electronic equipment�. RoHS restricts the use of Certain Hazardous Substances in the design and manufacture of electrical and electronic equipment.Eliminating the six banned substances includingLead (Pb), Mercury (Hg), Cadmium (Cd), Hexavalent chromium (Cr6+), Polybrominated biphenyls (PBB), Polybrominated diphenyl ether (PBDE).Mr. Hitesh Doshi, Chairman &amp; Managing Director, Waaree Energies Ltd, commented, "We are thrilled to be able to offer RoHS compliance within our modules. Our efforts and excellence is visible in these compliances. Step by step we are achieving milestones in our goal of making a green planet, a safe planet." About Waaree Energies 
	 WAAREE Energies Ltd is the flagship company of Waaree Group, founded in 1989 with headquarters in Mumbai, India. It has India�s largest solar PV module manufacturing capacity of 500 MW�S at its plant in near Surat, Gujrat. Waaree Energies is amongst the top players in India in providing EPC services, Project development, rooftop solutions, and solar water pumps and also as an Independent Power Producer. Waaree has its presence in over 20 locations nationally and 68 countries internationally.<a href="content_gallery/RoHS-Report-06.01.2017.pdf" target="_blank" class="email_text">Click here to view RoHS Compliance Certificate</a>

Committed to keep the planet green & safe, Waaree Modules now come up with ROHS compliant

Waaree Energies Ltd, India's leading Tier 1 solar panel manufacturer, today announced thatcontinuing their emphasis on health &amp; safety compliance,their modules now come with REACH-compliant versions. This certifies that the substances used in the production of the modules are free from substances of high concern and restriction. The analysis of the Waaree Modules was conducted by UL.REACHstands for Registration, Evaluation, Authorisation and Restriction of Chemicals. It is a component testing regulation and certification of European Union Chemical Agency (ECHA). It is a stringent test recommended by EU ECOLABEL, a voluntary label that helps identify products and services that have a reduced environmental impact throughout their life cycle. This applies to the entire value chain, ranging from preliminary products to production and recycling; the analysis also takes into account the working conditions for the people in production.Mr. Hitesh Doshi, Chairman &amp; Managing Director, Waaree Energies Ltd, commented, "We welcome the REACH certification, because it provides a comparison against European manufacturers. Most of all, the regulation is a gauge for our success in research, development and production and responsible sourcing strategy."About Waaree Energies 
	 WAAREE Energies Ltd is the flagship company of Waaree Group, founded in 1989 with headquarters in Mumbai, India. It has India�s largest solar PV module manufacturing capacity of 500 MW�S at its plant in near Surat, Gujrat. Waaree Energies is amongst the top players in India in providing EPC services, Project development, rooftop solutions, and solar water pumps and also as an Independent Power Producer. Waaree has its presence in over 20 locations nationally and 68 countries internationally.<a href="content_gallery/REACH-Report_18.01.2017.pdf" target="_blank" class="email_text">Click here to view REACH Compliance Certificate</a>

Touching new heights for health & safety compliance, Waaree modules now come with REACH-compliant versions

Waaree Energies Ltd, No.1 Indian Solar Module Manufacturer is now awarded the status of Tier 1 Solar Module Manufacturer. Tier 1 status makes Waaree Solar panels acceptable for non-recourse financing by banks i.e. "bankable".&nbsp;&nbsp;Waaree has one of the India's largest state of the art 500MW manufacturing facilities.Speaking on this Achievement Waaree Energies CMD Mr. Hitesh Doshi Said, "Financing is currently one of the greatest hurdles to implementing photovoltaic projects, with banks generally only providing finance to very high-quality projects.&nbsp; Tier 1 Status of Waaree along with continued efforts on quality shall lead to a further ease financing processes for our customers globally (project developers and EPC contractors). I would like to thank the trust placed in us by banks, investors and a customer has resulted in us receiving the tier 1 status."Waaree has been named as number one Indian solar Module manufacturer for two consecutive years, and now awarded Tier.1 Status. It is awarded to a company to prove they are able to provide own-brand, self-made products to five different projects that are non-recourse financed by five different (non-development) banks.About Waaree EnergiesWAAREE Energies Ltd is the flagship company of Waaree Group, founded in 1989 with headquarters in Mumbai, India. It has India's largest solar PV module manufacturing capacity of 500 MW'S at its plant in near Surat, Gujrat. Waaree Energies is amongst the top players in India in providing EPC services, Project development, rooftop solutions, and solar water pumps and also as an Independent Power Producer. Waaree has its presence in over 20 locations nationally and 68 countries internationally.Write back to us at <a href="mailto:waaree@waaree.com" class="email_text">waaree@waaree.com</a>Website : <a href="http://www.waaree.com" class="email_text">http://www.waaree.com</a>

tay up to date with the latest news and announcements from around our business. Here you can easily access the press release, latest news and resources

Waaree Energies Ltd, one of India's most diversified and fastest growing solar power Solutions Company, today announced the launch of the new 1500V System Voltage ("1500V") crystalline solar module at the Renewable Energy India Expo, 2016.The conventional 1000V system voltage allows PV system designed&nbsp;only up to 1000V. The new&nbsp;1500V module has proven its performance under UL 1703; Standard for Flat-Plate Photovoltaic Modules and Panels and allows a significantly more efficient system design while reducing the overall BOS and cabling costs.Raising the maximum system voltage to 1500V means a potential increase of up to 50% in string length, hence reducing the overall BOS cost. It is an inevitable trend that 1500V systems would begin to be installed on a global scale in the future, not so far away. The module still remains PID (Potential Induced Degradation) resistant as per IEC 62804. The company announced the successful completion of the project at the much coveted Renewable Energy India Expo.Speaking on the launch, Mr. Hitesh Doshi, Chairman &amp; Managing Director, Waaree Energies Ltd, commented, "We are immensely excited about this project as it is a milestone for us at Waaree. This marks a momentous win for us as it adds to our already high quality database of modules. 1500 V module comes packed with a whole lot of inherent advantages which are absent in 1000 V modules. Certain key ones include the lowering of balance of system costs as high voltage systems allows more number of modules to be connected in a single string and thus reduces the number of combiner boxes, shorter runs of wiring, trenching, labor, DC breakers and, overall loss to the system. We believe this new product can perfectly meet the growing demand for higher voltage systems&nbsp;with lower system costs.&nbsp;&nbsp;Infact, installing 1500V DC systems in place of the now-used 1000V DC can lower costs by as much as $ 0.05 per watt, which by itself is noteworthy.""Additionally, installation and maintenance costs also comes down once you start using 1500V design in PV arrays. This is particularly beneficial to the EPCs as the overhead costs are reduced and margins are expanded." he added.The indigenous market is of high strategic importance to Waaree and it is committed to deliver innovative technology solutions to the market.About Waaree EnergiesWAAREE&nbsp;Energies&nbsp;Ltd is the flagship company of&nbsp;Waaree&nbsp;Group, founded in 1989 with headquarters at Mumbai, India. It is a leading player in the solar&nbsp;Energy&nbsp;space in India as well as internationally. It has India's largest solar PV module manufacturing capacity of 500 MW and is Ranked No.1 Indian Solar Panel manufacturer. The Module manufacturing capacity is being scaled up to 1 Gigawatt by the end 2016.&nbsp;Waaree&nbsp;Energies&nbsp;is present across the solar value chain providing EPC Solutions, Solar Modules for Grid-connected solar farms, Rooftop Solar, Solar water pumps, Project development services and also as an Independent Power Producer.&nbsp;Waaree&nbsp;Group has its presence in over 20 locations nationally and 68 countries internationally.Write back to us at <a href="mailto:waaree@waaree.com" class="email_text">waaree@waaree.com</a>Website:&nbsp;<a href="http://www.waaree.com/" target="_blank" class="email_text">http://www.waaree.com</a>

Waaree Energies Ltd launches new 1500-Voltage Crystalline Solar PV Module at 2016 REI Expo 2016

Waaree Energies,India's largest solar panel manufacturer, announces a strategic partnership with 4CSolar � a proven technology solutions provider based in California specializing in floating solar arrays. 4CSolar has developed patent-protected technologies to enable highly reliable, low-cost and eco-friendly installations of floating solar power plants on lakes, dams, and near-shore seawater.&nbsp; This product is now available for demonstration and sale through SunMount Engineering Pvt. Ltd., a wholly-owned subsidiary of Waaree Energies.Commenting on this association, Mr. Hitesh Doshi, Chairman &amp; Managing Director, Waaree Energies said,&nbsp;"We are extremely pleased to establish this partnership with 4CSolar, which is a prominent solar solution provider in floating solar modules. Through this association, we aim to develop a cost-effective and low-maintenance solution that can help address India's energy and water challenges, and also enable our domestic suppliers to upgrade their technology."Adding their bit, Ms Judith Smadja, Chief Executive Officer at 4CSolar commented,&nbsp;"We are very proud to be associated with a leading solar manufacturing brand like Waaree Energies, which is quite active in its efforts to maximize India's solar capacity. With them, we wish to contribute to the nation's 'Make in India' campaign through our comprehensive, eco-friendly floating solar solutions, and also upgrade the manufacturing capabilities of domestic companies � creating more room for sustainable growth.""Floating solar" is a solution where solar modules are mounted on floating pontoons which are either tethered to the shore, or anchored to the bottom of water bodies. Such installations can minimize the use of precious agricultural land for solar power generation, and also curb evaporation losses from water reservoirs by as much as 70%. &nbsp;By being located close to their point-of-use these installations can power sustainable solutions such as lift-irrigation, or provide rural electricity with low T&amp;D losses.This strategic tie-up will enable Waaree Energies and 4CSolar to provide scalable solutions for lakes, reservoirs, canals and off-shore solar projects in India.About Waaree EnergiesWAAREE Energies Ltd is the flagship company of Waaree Group, founded in 1989 with headquarters in Mumbai, India. It has India's largest solar PV module manufacturing capacity of 500 MW'S at its plant in near Surat, Gujarat. Waaree Energies is amongst the top players in India in providing EPC services, Project development, rooftop solutions, and solar water pumps and also as an Independent Power Producer. Waaree has its presence in over 20 locations nationally and 68 countries internationally.About 4CSolar4CSolar Inc based in Southern California is a technology startup with expertise in offshore power systems, pontoon engineering, and plasticsFor any further details, kindly contact: 
	Mr. Venkatesh Sittula 
	+91-7710081402 
	<a href="mailto:info@sun-mount.com" class="email_text">info@sun-mount.com</a>

Waaree Energies announces entry into floating solar PV market

Continuing its efforts to promote the use of Solar PVC modules as a viable energy source, Waaree energies, one of India�s leading solar product manufacturers, has installed solar rooftop panels at Growel�s corporate office located in Growel�s&nbsp;Mall� one of the most popular shopping centers in Kandivali, Mumbai. The solar panel system has played a significant role in reducing the shopping mall�s carbon footprint � eliminating almost 2, 23, 200 kg of carbon dioxide.The comprehensive solar panel system was installed using Waaree�s exclusive 310 Watt-peak (Wp) modules and are powered by 33kW and 40 kW Huawei inverters. The solar energy generated by this system is projected to reach 2, 79,000 units per year.Commenting on this project,&nbsp;Mr. Hitesh Doshi, Chairman &amp; Managing Director, Waaree Energies&nbsp;said,&nbsp;"At Waaree Energies, we aim to eventually establish solar power as the most viable alternative to grid. With our latest solar panel system at Growel�s, we wish to achieve the same while also helping the establishment in significantly reducing its carbon footprint. Our plan is to gradually introduce multiple solar projects across India in hopes of creating a self-sustaining system that promises energy conservation in the long run.�Adding their bit,&nbsp;Mr. Sharad Jhunjhunwala, Growel�s 101 Mall&nbsp;said,&nbsp;"We are extremely happy to have a solar rooftop panel system by Waaree Energies at our mall. We are confident that their involvement in this venture can help pave the way forward for greater innovation in this industry � enabling a solar-power enabled society that benefits all involved.�The solar rooftop project was completed within 40 days and consists of non-penetrative roof structures. Its panels are controlled by app-based remote monitoring facilities. Apart from being involved in its set-up, Waaree Energies also provisioned 5 years O&amp;M to Growel�s 101 Mall for maintenance and upkeep of the solar panel system.About Waaree Energies Ltd.WAAREE Energies Ltd is the flagship company of Waaree Group, founded in 1989 with headquarters at Mumbai, India. It is a leading player in the solar Energy space in India as well as internationally. It has India�s largest solar PV module manufacturing capacity of 500 MW and is Ranked No.1 Indian Solar Panel manufacturer. The Module manufacturing capacity is being scaled up to 1Gigawatt by the end 2016. Waaree Energies is present across the solar value chain providing EPC Solutions, Solar Modules for Grid-connected solar farms, Rooftop Solar, Solar water pumps, Project development services and also as an Independent Power Producer. Waaree Group has its presence in over 20 locations nationally and 68 countries internationally.Website:&nbsp;<a href="http://www.waaree.com/">http://www.waaree.com</a>For further information, please contact:Anand GuptaEQ &amp; Urbana Media Network&nbsp;anand@eqmag.net

Waaree Energies installs solar rooftop panels at Growel's101 Mall, Kandivali, Mumbai

As a part of its corporate social responsibility;&nbsp;Waaree Energies&nbsp;started its special initiative to endorse education for all and announced its campaign&nbsp;�From Darkness to Light�- supplementing education for children in the lower strata of the society in the country. Kicking off the campaign on Labour Day on May 1, 2016, Waaree Energies donated 10 Solar Lanternsto the kids of labourers, in an attempt to help these children avoid any hindrance in their studies caused due to poor power connections/supply in their locality.Mr. Sunil Rathi, Director Sales &amp; Marketing,Waaree Energies&nbsp;represented the company and handed over 10 solar lanterns to the labourers in the Behraambaug area of Jogeshwari West.Commenting on this noble effort, Mr. Hitesh Doshi, Chairman and Managing Director, Waaree Energies said,"One of the major reasons for illiteracy in India is Poverty. Despite being one of the fastest growing economies in the world, our country still suffers from educational discrepancies among various strata of society. Lack of proper schools in most rural areas are some of the reasons why children from poor families fail to get proper education. Most of them are forced to work alongside their parents as laborers or factory workers just so they could manage at least one meal per day. In a bid to curb illiteracy, we at Waaree Energies have created �From darkness to Light� to promote education rights of these children, and help them reach their goals via proper facilities.�With this campaign, Waaree Energies is determined to create awareness and promote education rights of every individual in the country. With this endeavor, the company intends to spread its support for education and make people aware of its importance in every individual�s life.About Waaree Energies Ltd.WAAREE Energies Ltd is the flagship company of Waaree Group, founded in 1989 with headquarters at Mumbai, India. It is a leading player in the solar Energy space in India as well as internationally. It has India�s largest solar PV module manufacturing capacity of 500 MW and is Ranked No.1 Indian Solar Panel manufacturer. The Module manufacturing capacity is being scaled up to 1Gigawatt by the end 2016. Waaree Energies is present across the solar value chain providing EPC Solutions, Solar Modules for Grid-connected solar farms, Rooftop Solar, Solar water pumps, Project development services and also as an Independent Power Producer. Waaree Group has its presence in over 20 locations nationally and 68 countries internationally.Website:&nbsp;<a href="http://www.waaree.com/">http://www.waaree.com</a>For further information, please contact:Khushboo Purohit / NitinSagar MoreValue 360 Communications Pvt Ltd(M) 9819303885 / 9702588448(E)&nbsp;<a href="mailto:khushboo@value360india.com">khushboo@value360india.com</a>&nbsp;/&nbsp;<a href="mailto:nitin@value360india.com">nitin@value360india.com</a>

Advocating education for all, Waaree Energies announces 'From Darkness to Light' campaign

In its constant endeavor to support young engineering minds having passion and innovation, Waaree Energies Ltd. sponsors the making of Electric Solar Vehicle by the VJTI RACING � the collegiate club of VJTI College, Mumbai. The club has been constantly participating in events involving manufacturing of ATV�s and formula-type cars.The idea is to design a vehicle that is feasible enough to be manufactured on an industrial scale and also economically viable for all sections of society. It is meant to be a technology that provides an efficient way of transportation using renewable source of energy. The car uses seamless pipe chassis, which makes it easier to manufacture. It has a compact design and provides high maneuverability &amp; short turning radius. The car is driven by 2KW BLDC motor along with well-engineered power transmission, which helps in achieving high speeds with low consumption of power. The area and positioning of solar panels is chosen with utmost optimization so that all energy requirements are met. The car uses Li-ion batteries by virtue of their less charging time, increased output and at the same time reducing the overall weight.Speaking on this occasion, Mr. Jignesh Rathod � SBU head at Waaree Energies Ltd. commented, "It is a pioneering car design in the field of technology, optimization &amp; sustainability. We hope our small contribution for this venture turns out to be fruitful &amp; the vehicle attains the outreach it is destined to reach�.Expressing his gratitude and excitement, a student from the collegiate club commented, "The sponsorship is really encouraging and inspiring. We are delighted with this support and believe in the vision of Waaree energies and solar power. However, to do this in a larger scale and make solar vehicle a big hit, the country needs better infrastructure and definitely the same zeal towards renewable energy demonstrated by the current government"Apart from the above mentioned features, safety of the car is also given paramount importance. The car is equipped with dual braking system, which is full proof and reduces probability of failures. It also consists of an over-travel switch to reduce damage due to panic braking. A major innovation is the distress caller for driver safety. Other innovations include regenerative circuits to maximize power usage.About Waaree:WAAREE Energies Ltd is the flagship company of Waaree Group, founded in 1989 with headquarters in Mumbai, India. It has India�s largest solar PV module manufacturing capacity of 500 MW�S at its plant in near Surat, Gujrat. Waaree Energies is amongst the top players in India in providing EPC services, Project development, rooftop solutions, and solar water pumps and also as an Independent Power Producer. Waaree has its presence in over 20 locations nationally and 68 countries internationally.For any further details, kindly contact:Khushboo Purohit<a href="mailto:khushboo@value360india.com">khushboo@value360india.com</a>09819303885Nitin Sagar MoreIn its constant endeavor to support young engineering minds having passion and innovation, Waaree Energies Ltd. sponsors the making of Electric Solar Vehicle by the VJTI RACING � the collegiate club of VJTI College, Mumbai. The club has been constantly participating in events involving manufacturing of ATV�s and formula-type cars.The idea is to design a vehicle that is feasible enough to be manufactured on an industrial scale and also economically viable for all sections of society. It is meant to be a technology that provides an efficient way of transportation using renewable source of energy. The car uses seamless pipe chassis, which makes it easier to manufacture. It has a compact design and provides high maneuverability &amp; short turning radius. The car is driven by 2KW BLDC motor along with well-engineered power transmission, which helps in achieving high speeds with low consumption of power. The area and positioning of solar panels is chosen with utmost optimization so that all energy requirements are met. The car uses Li-ion batteries by virtue of their less charging time, increased output and at the same time reducing the overall weight.Speaking on this occasion, Mr. Jignesh Rathod � SBU head at Waaree Energies Ltd. commented, "It is a pioneering car design in the field of technology, optimization &amp; sustainability. We hope our small contribution for this venture turns out to be fruitful &amp; the vehicle attains the outreach it is destined to reach�.Expressing his gratitude and excitement, a student from the collegiate club commented, "The sponsorship is really encouraging and inspiring. We are delighted with this support and believe in the vision of Waaree energies and solar power. However, to do this in a larger scale and make solar vehicle a big hit, the country needs better infrastructure and definitely the same zeal towards renewable energy demonstrated by the current government"Apart from the above mentioned features, safety of the car is also given paramount importance. The car is equipped with dual braking system, which is full proof and reduces probability of failures. It also consists of an over-travel switch to reduce damage due to panic braking. A major innovation is the distress caller for driver safety. Other innovations include regenerative circuits to maximize power usage.About Waaree:WAAREE Energies Ltd is the flagship company of Waaree Group, founded in 1989 with headquarters in Mumbai, India. It has India�s largest solar PV module manufacturing capacity of 500 MW�S at its plant in near Surat, Gujrat. Waaree Energies is amongst the top players in India in providing EPC services, Project development, rooftop solutions, and solar water pumps and also as an Independent Power Producer. Waaree has its presence in over 20 locations nationally and 68 countries internationally.For any further details, kindly contact:Khushboo Purohit<a href="mailto:khushboo@value360india.com">khushboo@value360india.com</a>09819303885Nitin Sagar More09702588448

During the Intersolar India 2015 exhibition and conference held at Mumbai between 18thto 20th&nbsp;November, Huawei Technology Co. Ltd., China has announced its partnership with Waaree Energies Ltd. In India.Waaree Energies Ltd. has placed an order for 100 MW�s of string Inverter and Smart PV solutions on Huawei for its Projects in India.Both companies are committed for a long and fruitful&nbsp;&nbsp;association for the India market and provide technologically advanced solutions.During the FY 2015-16, Waaree executed some big size, grid tied EPC contracts such as �Waaneep�, which is a 50 MW Project in Madhya Pradesh. Another 50 MW Project in Andhra Pradesh would break the ground soon. Waaree also recently executed a 27.5 MW EPC contract in the Bhadla Solar Park, Rajasthan for Roha Dyechem. Waaree Energies Ltd. is likely to execute EPC contracts of more than 300 MW�s during the current financial year.About Waaree Energies Limited:WAAREE Energies Ltd is the flagship company of Waaree Group, founded in 1989 with headquarters in Mumbai, India. It has India�s largest solar PV module manufacturing capacity of 500 MW�S &nbsp;at its plant in near Surat, Gujrat. Waaree Energies is amongst the top players in India in providing EPC services, Project development, rooftop solutions, solar water pumps and also as an Independent Power Producer. Waaree has its presence in over 20 locations nationally and 68 countries internationally.For further contact details, kindly get in touch with :Ms.Khushboo Purohit � 09819303885 , Nitin Sagar More - 09702588448

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Waaree completes 50MW Solar Module Supply to a Developer & Fortune 500 Company in USA

Waaree Energies Limited signs contract with Mahindra Susten to supply 280 MW solar modules

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Enerparc Energy Pvt Ltd commissions 3.8 MW solar project with the prowess of Waaree Energies Ltd.

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Waaree completes 50MW Solar Module Supply to a Developer & Fortune 500 Company in USA

Waaree Energies Limited signs contract with Mahindra Susten to supply 280 MW solar modules

Waaree Energies Limited obtains BIS Certification for TopCon Modules

Waaree Energies Ltd. conducts a Unique Tree Plantation Drive to Promote Environmental Sustainability

Enerparc Energy Pvt Ltd commissions 3.8 MW solar project with the prowess of Waaree Energies Ltd.

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