Waaree Energies bags 600 MWp solar module order

Waaree Energies has announced that it has received an order for the supply of solar photovoltaic (PV) modules totaling up to 600 MWp from a prominent customer in the renewable energy sector.

The customer is engaged in the business of owning, developing and operating renewable power projects in India.

The order includes the supply of 600 solar PV modules and deliveries are scheduled to begin in the fiscal year 2025-2026.

Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12 GW. Presently, it is engaged in manufacture of Solar Photo-voltaic Modules, setting up of Projects in solar space and sale of electricity. The company operated five manufacturing facilities in India spread over an area of 143.01 acres. It operate one factory each located at Surat, Tumb; Nandigram, Chikhli in Gujarat, India and the IndoSolar Facility, in Noida, Uttar Pradesh.

Waaree Energies reported 14.77% increase in consolidated net profit to Rs 361.65 crore in Q2 FY25 as against Rs 315.09 crore posted in Q2 FY24. Revenue from operations rose 1.04% year on year (YoY) to Rs 3,574.38 crore in the quarter ended 30 September 2024.

The scrip slipped 2.71% to settle at Rs 2,525.75 on the BSE.

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