Waaree says will expand module manufacturing capacity to 12 GW by Mar 2023

Waaree has a 9 GW module manufacturing facility operational

Solar equipment maker Waaree on Tuesday said it will ramp up its module manufacturing capacity to 12 GW by March 2023 from the existing nine GW.

Waaree, a leading solar panel manufacturer, currently, has a 9 GW module manufacturing facility operational. Further, the company is setting up additional module manufacturing capacity, which will take its module manufacturing capacity to 12 GW for a 650-watt module by March 2023, a company statement.

This will be the largest module manufacturing capacity in the world outside China, it added.

Waaree is the lone manufacturer in India approved by ALMM (Approved List of Models and Manufacturers) to ship high-wattage panels -- 650WP along with 600WP and 540WP -- from its manufacturing facilities in Surat, Chikhli, Tumb and Nandigram.

With the addition of Indo solar, modules will be made at Greater Noida in NCR for the domestic market in Q3 of 2022, the company said.

Waaree has emerged as the leading supplier of solar modules as per a report by JMK and holds a lion's share of 17 per cent of the total shipment. Nearly 85 per cent of the modules shipped were high-efficiency mono-perc technology, it added.

"2022 was a very eventful year for Solar Manufacturing, the country took more than 15 years to reach a module manufacturing capacity of 10 GW and in less than one year in 2022, the county has established over 30 GWs and is marching towards reaching 100 GW," Hitesh Doshi, Chairman and Managing Director of Waaree Energies, said.

Waaree Energies Ltd is India's leading Solar PV Module manufacturer. In addition, it provides EPC services, project development, rooftop solutions, and solar water pumps and is an independent power producer.