A leading Indian solar module manufacturer, Waaree Energies Limited, has announced an international deal to supply 586 MW of solar modules, valued at USD 176 million, through its wholly owned subsidiary, Waaree Solar Americas. An operator of utility-scale solar and energy projects in the United States has placed the order, with deliveries scheduled to begin in the financial year 2026-2027.
Image source: IndiaMART
The manufacturing of the booked solar modules will take place in the Waaree Solar Americas' Texas facility, which the company is setting up to serve the growing US market. This will not only expand the firm's presence within the US renewable energy sector but should also reflect on its revenue in the next financial year, given the company’s 78 per cent of revenue comes from solar PV module exports to the US company.
Also read: Waaree Energies to supply bifacial solar modules for 150 MW renewable power project
Sunil Rathi, the President of Waaree Solar Americas stated, "This agreement reflects Waaree's unwavering commitment to building a resilient, robust, and technologically advanced clean energy supply chain in the US"
Waree Energies Limited is an established company in the Indian solar industry, having five manufacturing facilities across the country, with an installed production capacity of 12 GW. Plans are underway to increase this capacity to 20.9 GW by 2027. Waaree holds approximately 21 per cent of the domestic solar module market and commands a 44 per cent share in exports.
The company has a market capitalisation of INR 80,353 crore (USD 9.68 billion). As of May 30, 2025, its stock was trading at INR 3,030.90 (USD 36.52), with a 52-week range between INR 2,091.95 (USD 25.19) and INR 3,633.65 (USD 43.77).
Also read: From solar panels to wind turbines: Role of aluminium in renewable energy infrastructure
Responses
