Waaree Energies bags LoA for 180 MWp-solar modules

Waaree Energies informed that it has received letter of award (LoA) for supply of solar PV modules for 180 MWp.

The company said that it has won order from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India.

The contract entails supply of 180 MWp solar PV modules, scheduled to commence in FY 2025-26.

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 the manufacture of solar photovoltaic modules, the setting up of projects in solar space, and the sale of electricity. The company operated five manufacturing facilities in India spread over an area of 143.01 acres. It operates one factory each located at Surat, Tumb; Nandigram, Chikhli in Gujarat, India; and the IndoSolar Facility in Noida, Uttar Pradesh.

The company reported 14.77% increase in consolidated net profit to Rs 361.65 crore on 1.04% rise revenue from operations to Rs 3,574.38 crore in Q2 FY25 over Q2 FY24.

The scrip declined 0.36% to Rs 2,626.20 on the BSE.

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