Waaree Energies’ US Subsidiary Commenced Trial Production of Solar Modules

On December 20, 2024, Waaree Energies announced that its wholly-owned subsidiary, Waaree Solar Americas Inc., has commenced trial production of solar modules at its manufacturing facility in the United States. The first phase of the facility is designed to have a 1.6 GW solar module manufacturing capacity, with plans to expand it to 3 GW.

Waaree Energies, a leading Indian renewable energy company, is the first to establish a photovoltaic (PV) module manufacturing facility in Brookshire, Texas.

Earlier, the company revealed that it secured two projects, totalling 398 MW, for the supply of solar modules. One project is for 249 MW, while the other is for 149 MW. These orders are from a prominent client involved in owning, developing, and operating renewable power projects in India. The supply of solar modules is scheduled to begin in FY26.

Waaree Energies Q2 FY25 Financials

• Production of 3.3 GW in H1 FY25, compared to 4.8 GW in FY24, reflecting a strong operational focus.
• The order book as of September 30, 2024, stands at approximately 20 GW, underscoring the confidence customers have in the company’s execution capabilities.
• EBITDA increased by 15% year-on-year in H1 FY25, with a margin of 17.5%.
• The Board of Directors approved an investment of up to ₹6,000 million for setting up and developing infrastructure (including land and connectivity) to support the development of renewable power projects and future bidding opportunities.

On December 23, 2024, Waaree Energies shares opened at ₹2,934.80 and touched the day-high of ₹2946.85 at 11:15 AM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.