Waaree Energies secures $2.37 billion worth orders for supplying bifacial solar panels

Domestic solar PV module manufacturer Waaree Energies has bagged new orders worth USD 2.37 billion from customers in the domestic and international markets. Waaree Energies said in a statement that the orders are for supplying high-efficiency bifacial solar panels of 540Wp (watt peak) and 600Wp.

These panels will be produced in Waaree's manufacturing facility using M10 and M12 cells.

"These orders are consistent with the Indian government's vision of Atmanirbhar Bharat, and will bring in more than USD 2 billion in foreign exchange while creating hundreds of job opportunities. These orders will enable us in strengthening our market position as we diversify our clientele and expand into newer markets," said Hitesh Doshi, Chairman & Managing Director, Waaree Energies.

Waaree currently has a 4GW PV module manufacturing capacity and plans to add another 5GW by December 2022. The 4GW solar cell manufacturing capacity is expected to be operational by March 2023.

Waaree Energies is the flagship company of Waaree Group and is the country's leading solar photovoltaic (PV) maker and leader in the rooftop segment with headquarters in Mumbai and four manufacturing facilities at Surat, Chikhli, Tumb and Nandigram.