Bengaluru, 18^th December 2025 – Waaree Energies Ltd., India’s leading clean energy transition company, has secured a 300MW module supply order from Sembcorp Green Infra Private Limited (Sembcorp.

Under this contract, Waaree will supply its advanced G12R TOPCon dual-glass bifacial modules for Sembcorp’s large-scale solar projects in Rajasthan. The modules supplied by Waaree will be deployed at Sembcorp’s solar power project sites in Rajasthan. Waaree’s bifacial modules are designed for higher energy yield and long-term durability, supporting the development of dependable renewable energy assets. Deliveries under this contract will contribute to the company’s growing portfolio of renewable energy projects across India.

Mr Sunil Rathi, Executive Director, Waaree., said: “This underscores Waaree’s capability to deliver high-efficiency, future-ready solar technology at scale. As India expands its renewable footprint, we remain committed to enabling utility-grade projects with solutions that combine innovation, reliability, and world-class manufacturing.”

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As per the 3rd Revision of ALMM List-II, notified by MNRE on 15 December 2025, Waaree’s advanced solar cell manufacturing facility located at Degam, Chikhli, Navsari (Gujarat) has been enlisted with a total approved capacity of 5.25 GW per annum. This includes 3,923 MW of N-type TOPCon cells and 1,328 MW of P-type PERC bifacial cells, reinforcing Waaree’s leadership in next-generation cell technologies.

Commenting on the development, Sunil Rathi, Executive Director, Waaree, said: ““ALMM List-II inclusion for our solar cells is a critical step in strengthening domestic backward integration across India’s solar value chain. While Waaree is already the largest in scale, this milestone reinforces our position at the forefront of solar cell technology as well. By scaling high-efficiency TOPCon and PERC cell manufacturing in India, we are reducing import dependence while giving developers and EPCs greater certainty on quality, supply continuity, and policy compliance. This is how India builds a resilient, self-reliant solar manufacturing ecosystem at scale..”

The listing significantly strengthens Waaree’s position as a fully integrated cell-to-module supplier, offering developers, EPCs, and institutional buyers greater assurance on domestic sourcing, supply-chain security, and long-term project viability.

The ALMM List-II recognition builds on Waaree’s existing presence in ALMM List-I for solar modules and underscores the company’s sustained investments in advanced manufacturing, including N-type TOPCon and high-efficiency PERC platforms. Going forward, Waaree aims to leverage this milestone to deepen partnerships with Indian and global developers, accelerate exports, and contribute meaningfully to resilient, high-performance solar value chains aligned with India’s energy security and net-zero goals.

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This expansion builds directly on Waaree’s recent commissioning of two high-efficiency module lines of 750 MW each at the same Samakhiali location, totaling 1.5 GW of new capacity added. With this addition, Waaree has now scaled the Samakhiali manufacturing facility in Kutch, Gujarat to a total annual capacity of 3 GW. The site is now one of Waaree’s most advanced manufacturing hubs, equipped with next-generation automation, rigorous quality controls, and integrated testing systems designed to meet surging domestic and global demand for high-performance solar modules.

Sunil Rathi, Executive Director, Waaree Energies Limted said, “The expansion of our Samakhiali facility to 3 GW marks another milestone in Waaree’s purposeful capacity build-out. This positions us to serve strategic markets more effectively while advancing our vision of delivering reliable, locally manufactured solar technologies at scale.”

By strengthening both domestic and international manufacturing, Waaree continues to expand its leadership role in the renewable energy sector, offering a comprehensive suite of clean energy products that extend beyond modules and cells to include inverters, battery storage systems, green hydrogen solutions, and EPC services.

Total Global and India Manufacturing Capacity

With the Samakhiali expansion complete, Waaree’s aggregate solar module manufacturing capacity now stands at approximately 22.3 GW globally, comprised of around 19.7 GW in India and 2.6 GW in the United States. In addition, Waaree’s solar cell manufacturing capacity remains at 5.4 GW, representing one of the largest cell production platforms in India.

These capacities underpin Waaree’s ability to address growing global demand for high-efficiency solar modules, support energy transition goals, and contribute to national initiatives such as Make in India and Aatmanirbhar Bharat.

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The modules will be deployed for NHPC, one of India’s premier hydroelectric power companies. This partnership not only reinforces Waaree’s commitment to providing high-quality solar solutions but also highlights the growing demand for clean energy in the region.

Dr. Amit Paithankar, Whole-Time Director and CEO of Waaree Energies Ltd., stated, “We are pleased to partner with Khaba Renewable Energy and NHPC on this important order. Our Elite BiN-08 N Type TopCon modules provide performance and durability that are essential for large-scale renewable energy projects. In a time when sustainable energy solutions are crucial for addressing climate change, our modules enhance energy efficiency and help reduce the carbon footprint associated with power generation. We prioritize our ability to deliver projects on time, fostering trust and transparency with our partners. Our focus on innovation and quality ensures that we meet expectations, positioning us as a reliable player in the renewable energy sector. As we work together on this project, we are confident that our collaboration will contribute to progress in the industry.”

This repeat order is a demonstration of Waaree Energies’ leading position in the renewable energy market and its dedication to driving the solar revolution in India and beyond. With this latest achievement, Waaree continues to set benchmarks for quality and innovation in solar technology.

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The PV ModuleTech Bankability Ratings serve as a definitive benchmark for investors, developers, and EPCs (Engineering, Procurement, and Construction) seeking to mitigate risk and ensure long-term returns in solar projects. This independent assessment evaluates PV module manufacturers on critical factors such as financial stability, production capacity, market reputation, after-sales support, and technological innovation. It also considers a manufacturer’s value chain strength, global shipping capabilities, capital expenditure (capex) in infrastructure and technology, research and development investments, and cash flow management- key indicators of long-term reliability and scalability.

With the manufacturing capacity of approximately 15 GW globally, Waaree demonstrates a robust value chain and a strong global supply footprint. Further, Waaree’s PV Module Test Laboratory (PMTL) in Chikhli, accredited by NABL, emphasizes the company’s assurance to quality and innovation, guaranteeing that the modules adhere to the highest international standards of durability and efficiency. Additionally, Waaree has been at the forefront of next-generation solar technology with its TOPCon and HJT modules, offering world-class, high-efficiency solutions tailored for evolving energy needs.

Remarking on the recognition, Dr. Amit Paithankar, Whole-time Director & CEO, Waaree Energies Limited, said, “This prestigious accreditation is a demonstration of our consistent pursuit for excellence in solar manufacturing. It not only reaffirms our assurance to quality, reliability, and sustainability but also positions Indian manufacturers on the global map of excellence. As India strides towards energy independence, such global recognition further enhances the credibility of Indian solar manufacturing, paving the way for greater international collaborations and market expansion. Waaree remains dedicated to pioneering radical solutions that empower a greener, more sustainable future for all.”

Waaree’s focus on quality, innovation, and operational excellence has positioned it among the most bankable PV module manufacturers globally. The ‘A’ rating by PV Tech essentially places the company in an elite group of industry leaders who are renowned for their financial strength, reliability, and technological advancements.

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The contract includes the supply of Waaree’s flagship high-efficiency Glass N-type Topcon bifacial modules, rated at 585/590Wp. These modules are recognized for their durability, exceptional energy output, and advanced technology, showcasing Waaree’s unwavering commitment to quality and innovation.

The modules are scheduled to be supplied in the next financial year, 2025-26.

As the only solar panel manufacturer in India featured in the RETC PV Benchmarking Report 2024, Waaree’s modules exemplify quality, reliability, and performance. Recognized as a Tier 1 solar module manufacturer by Bloomberg New Energy Finance (BNEF), Waaree operates an NABL-accredited testing lab, ensuring the highest standards of excellence. These accolades reinforce the company’s commitment to powering renewable projects, enhancing energy reliability, and significantly reducing carbon emissions.

The confidence shown by clients highlights Waaree Energies’ commitment to solar PV module manufacturing. The execution of this project will increase India’s renewable energy capacity, leading to reductions in greenhouse gas emissions and supporting environmental sustainability.

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Waaree Energies has built a legacy quotient in championing the cause of sustainability through its range of energy transition solutions. Its fundamental proposition revolving around the transition to renewable energy acts as a force multiplier to corporates looking forward to leapfrog their respective carbon neutrality targets.

UNGC encourages businesses worldwide to embrace sustainable practices encompassing critical aspects such as human rights, labour standards, environmental stewardship and anti-corruption. Waaree Energies’ latest move reflects upon the company’s resolve to implement socially responsible policies while supporting global sustainability objectives.

Dr. Amit Paithankar, Chief Executive Officer, Waaree Energies, said, “We are excited to collaborate with other global corporations on projects aligned with the UN’s Sustainable Development Goals. Our aim is not only to lead by example but also to inspire others in our industry to adopt sustainable practices. Engaging with the UNGC will provide us with valuable insights and tools to further integrate sustainability into our business model and also enabling it for our clients across the world.”

The accreditation places Waaree Energies among the global best, collectively working on advocating the cause of sustainability. The company’s commitment goes beyond operational excellence as it aims to foster a culture of sustainability that resonates throughout the industry and beyond. By leveraging resources and training opportunities available through the UNGC, Waaree Energies is set to strengthen its expertise across all facets of sustainability.

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Bengaluru, 5th December 2024 – Waaree Energies Ltd., India’s largest solar PV module manufacturer has added another feather to its cap by securing NABL accreditation for its cutting-edge PV Module Test Lab (PMTL). Located at Waaree’s state-of-the-art module manufacturing facility in Chikhli, Gujarat this accreditation further strengthens the company’s deliverance to quality, innovation, and sustainability. This marks Waaree’s second NABL accreditation, following the first achieved for its Thumb manufacturing facility.

The National Accreditation Board for Testing and Calibration Laboratories (NABL), a globally recognised body for laboratory accreditation, awarded this recognition under ISO/IEC 17025:2017 standards. This accreditation affirms the lab’s competence in delivering precise and reliable results across a wide array of testing parameters. The PMTL now performs over 48 tests, including thermal cycling, damp heat, mechanical load, and potential-induced degradation, ensuring that PV modules meet stringent performance, safety, and durability requirements. By adhering to internationally accepted testing protocols, Waaree demonstrates its ability to produce modules that withstand diverse environmental conditions while maintaining efficiency and reliability.

The PMTL is equipped to conduct:

• Design and safety qualifications for PV modules.
• Accelerated testing to ensure reliability, durability, and optimal performance under diverse field conditions.
• Specialized testing across disciplines, including biological, chemical, electrical, mechanical, radiological, photometry, IT systems, electro-technical, thermal, and medical equipment.

Dr. Amit Paithankar, CEO of Waaree Energies Ltd., hailed this achievement as a transformative step for India’s solar energy landscape. He said: “This second NABL accreditation is another proud milestone for Waaree and a step forward for India’s solar sector. With advanced testing capabilities now extended to our Chikhli facility, we can certify even larger volumes of solar modules domestically, reducing reliance on foreign labs and saving valuable resources. This achievement reinforces our commitment to making India self-reliant across the solar supply chain while ensuring our products consistently meet the highest global standards. The state-of-the-art lab defines our consistent pursuit to deliver dependable, high-quality solar solutions and advance India’s transition to a cleaner, more sustainable energy future.”

With this accreditation, Waaree is set to further elevate its position as a global leader in solar technology. Enhanced testing capabilities and improved production standards bolster the company’s capacity to meet growing international demand, paving the way for increased exports. This achievement aligns seamlessly with India’s vision to emerge as a global hub for solar manufacturing and export.

Waaree’s latest accomplishment not only reinforces its leadership in the solar sector but also underscores its commitment to driving India’s transition to a sustainable, energy-secure future.

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