Waaree Energies Secures 540 MW U.S. Solar Module Order, Order Book Hits Rs 47,000 Crore

Waaree Energies Limited, India’s largest solar panel manufacturer, has taken a significant step forward in its international expansion with a landmark 540 MW U.S. solar module order. The order was secured through its wholly-owned U.S. subsidiary, Waaree Solar Americas, and reflects the company’s deepening foothold in the global solar energy market, particularly in the fast-growing U.S. utility-scale segment.

This major international contract has been awarded by a prominent U.S.-based developer and owner-operator of utility-scale solar and energy storage projects. The deal includes a commitment to supply 270 MW of solar modules in 2025 and another 270 MW during 2027–2028, making it a strategically important order that spans multiple years. It further underlines Waaree’s reliability as a solar partner and its increasing credibility on the global renewable energy stage.

The 540 MW order showcases the growing global demand for Waaree’s solar solutions and the trust it commands in overseas markets. As more countries push to meet aggressive renewable energy targets, Indian manufacturers like Waaree are emerging as key players in filling global supply chain gaps.

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For the full FY25, Waaree posted a 26.73% growth in revenue, hitting Rs 14,444.50 crore, a jump from Rs 11,397.61 crore in FY24. The annual PAT climbed by 51.30% to Rs 1,928.13 crore, underlining strong operational execution and margin expansion. These numbers reflect the company’s improving efficiency, robust demand pipeline, and strong customer retention in both domestic and overseas markets.

Stock Market Performance and Investor Sentiment

Waaree Energies’ stock performance also mirrors investor confidence in its growth story. Over the past month, the stock has gained 5.16%, while delivering 20.12% returns in the last three months and 17.20% over the past year. These gains come amid volatile market conditions, making Waaree one of the more stable renewable energy stocks in the Indian market.

Backed by solid earnings, a growing global footprint, and a healthy order book, the company is expected to remain a preferred choice among institutional and retail investors focusing on green energy plays.

Industry Leadership and Manufacturing Capacity

Waaree Energies is not just a market leader in India; it is one of the top solar panel manufacturers globally with a 12 GW manufacturing capacity. Its product portfolio includes solar PV modules, EPC (engineering, procurement, and construction) services, rooftop solar solutions, and project development. The company serves a wide range of clients including residential, commercial, industrial, and utility-scale customers.

With increasing demand for cleaner energy and government incentives in key global markets like the U.S., Europe, and Southeast Asia, Waaree is well-positioned to scale further. It is also exploring capacity expansion and localization of manufacturing in overseas markets, aligning with trends in trade diversification and energy independence.

Strategic Importance of the U.S. Solar Order

The Waaree U.S. solar module order is strategically important for several reasons. First, it gives Waaree a significant presence in the U.S. market, one of the largest solar energy markets in the world. Second, the long-duration structure of the order allows for better planning, resource allocation, and cash flow visibility. Third, such orders help Waaree build long-term relationships with major utility-scale developers in the U.S., enhancing brand visibility and trust.

This contract also aligns with the global push for renewable energy and sustainability. With the U.S. government aggressively promoting clean energy through policy and tax incentives, the demand for reliable solar component suppliers is at an all-time high—creating a perfect entry point for Waaree.

Future Outlook: Growth Through Globalization

Waaree Energies is on a strong growth path, supported by a well-diversified business model, large-scale manufacturing, strong R&D, and a widening global network. The Rs 47,000 crore order book, with a growing share of international orders, gives the company long-term revenue visibility and reduces overdependence on the Indian market.

As solar energy continues to lead the global energy transition, Waaree’s investments in technology, operational efficiency, and global expansion are expected to fuel its next phase of growth. Analysts see potential for the company to emerge as a global solar powerhouse, especially as Western markets seek to diversify their energy equipment supply chains.

Conclusion

The Waaree U.S. solar module order not only reflects the company’s technical capabilities and manufacturing strength but also highlights India’s growing contribution to the global renewable energy ecosystem. With strong financials, a rising global profile, and a robust order pipeline, Waaree Energies is poised to play a defining role in shaping the future of solar power—both at home and abroad.

Disclaimer:

This article is for informational purposes only and does not constitute investment advice. Investors are advised to conduct their own research or consult a financial advisor before making investment decisions.

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