Waaree Energies Secures Solar Module Supply Contract

MUMBAI — Solar PV manufacturer Waaree Energies Limited has formally notified Indian stock exchanges of a fresh commercial contract for the supply of high-efficiency solar modules. The contract win reinforces the company's position as one of India's largest solar module producers and adds to its robust order backlog across domestic and international utility-scale projects.

According to statutory disclosures submitted under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, the commercial order involves manufacturing and delivering solar photovoltaic modules. The execution is scheduled in accordance with the project timelines agreed upon with the client.

Supply Contract Specifications and Governance

The contract expands Waaree Energies' commercial order book, which stands at multi-gigawatt levels. The manufacturing and delivery of the solar modules will be handled through the company's state-of-the-art production facilities in India.

Key contract parameters and compliance highlights disclosed by the company include:

• Scope of Contract: Manufacturing, quality testing, and supply of solar PV modules.

• Commercial Nature: Executed at arm's length under standard commercial terms.

• Governance Compliance: Neither promoters nor promoter group entities hold any direct or indirect interest in the awarding entity.

• Transaction Status: The agreement does not constitute a related-party transaction under SEBI guidelines.

The company confirmed that the order will be integrated into its manufacturing schedules, ensuring optimal capacity utilization across its module lines.

Manufacturing Capacity and Market Footprint

Mumbai-headquartered Waaree Energies operates an aggregate solar module manufacturing capacity exceeding 20 GW, complemented by backward-integrated solar cell manufacturing infrastructure. The company manufactures advanced solar module technologies, including Mono PERC, TOPCon, and bifacial solar PV modules designed for utility-scale, commercial, industrial, and residential applications.

In addition to its module manufacturing ecosystem, Waaree's subsidiary, Waaree Energy Storage Solutions, recently operationalized expanded battery energy storage system (BESS) container manufacturing capacity, broadening the group's clean energy technology portfolio.

Strategic Significance for India's Clean Energy Transition

The continued order intake for domestic solar module manufacturers comes amid strong policy support under the Indian government's "Make in India" clean energy initiatives, Approved List of Models and Manufacturers (ALMM) regulations, and ambitious national targets to achieve 500 GW of non-fossil fuel capacity by 2030.

Industry analysts observe that established solar PV manufacturers with integrated supply chains, automated production lines, and high-wattage module offerings remain well-positioned to capture a substantial share of utility-scale procurement orders from IPPs and renewable developers.

Official Sources Section

The information detailed in this news report is sourced directly from statutory communications, corporate announcements, and regulatory filings submitted to:

• Waaree Energies Limited Regulatory Announcements submitted under SEBI LODR Regulations.

• National Stock Exchange of India (NSE) corporate disclosures under symbol WAAREEENER.

• BSE Limited Listing Releases corporate disclosures under scrip code 544277.

• Ministry of New and Renewable Energy (MNRE) policy and ALMM regulatory guidelines.

Quote Section

According to official regulatory filings submitted by the company to stock exchanges:

"Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that Waaree Energies Limited has secured an order for the supply of solar modules. The order reflects continued trust in our technological capabilities and execution track record across utility-scale renewable energy projects."

Why It Matters

• For Solar Energy Industry: Demonstrates steady procurement activity and module off-take across domestic clean energy projects.

• For Stock Market Investors: Provides revenue visibility and order book expansion for a leading listed renewable energy equipment maker.

• For Clean Energy Developers: Confirms steady domestic manufacturing capacity for high-efficiency solar modules aligned with national localization mandates.

Key Facts at a Glance

• Contracting Entity: Waaree Energies Limited (NSE: WAAREEENER / BSE: 544277).

• Product Scope: Supply of high-efficiency solar PV modules.

• Manufacturing Ecosystem: Over 20 GW of module manufacturing capacity.

• Regulatory Compliance: Disclosed under SEBI LODR Regulation 30.

Frequently Asked Questions (FAQs)

What order did Waaree Energies announce?

Waaree Energies announced the receipt of a commercial contract for the supply of solar modules to be executed within specified project timelines.

What types of solar modules does Waaree Energies produce?

Waaree Energies manufactures a broad range of solar photovoltaic modules, including Mono PERC, N-type TOPCon, and bifacial dual-glass modules.

Where are Waaree Energies' primary manufacturing plants located?

Waaree Energies operates solar module manufacturing plants in Gujarat and other domestic locations, with expanding global manufacturing footprints.

Where are Waaree Energies shares traded?

Equity shares of Waaree Energies Limited are listed and traded on the National Stock Exchange of India (NSE) under symbol WAAREEENER and BSE Limited under scrip code 544277.

Source: Official corporate disclosures from Waaree Energies Limited, regulatory announcements on the National Stock Exchange of India (NSE), listing reports on BSE Limited, and statutory updates from the Ministry of New and Renewable Energy (MNRE).