Image credits: Waaree Energies Ltd

Waaree Energies has started operations at a 3,000 MW per year solar module facility in Gujarat, marking the addition of capacity to its portfolio.

The plant, located in Samakhiali in Kutch, has been set up through its subsidiary Sangam Solar One Private Limited. It runs on four lines of 750 MW each, together taking total output to the 3,000 MW mark.

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The expansion fits into a larger plan. Back in March, the company cleared a capital expenditure of INR 39 billion (USD 468 million) to build a glass manufacturing unit with a capacity of 2,500 tonnes per day under Waaree Green Glass Private Limited. That move is aimed at tightening control over the supply chain as solar demand picks up.

There’s also been activity overseas. Its US arm, Waaree Solar Americas Inc., recently signed a USD 30 million share subscription deal with United Solar Holdings Inc., signalling continued global expansion.

Order flow hasn’t slowed either. Waaree has secured a 500 MW module supply contract from a domestic developer, scheduled for execution in FY27.

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Financials show the same trend. In the December quarter, net profit rose to INR 10.62 billion (USD 127.4 million), up 26 per cent sequentially, while revenue came in at INR 76.56 billion (USD 918.7 million), a 24.7 per cent increase, helped by better operating leverage.

With new capacity coming online and backward integration underway, the company is clearly positioning itself to capture a larger share of the solar manufacturing cycle, where materials like aluminium frames and mounting structures continue to play a key role.

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