India's Waaree Energies Secures 2GW PV Module Order for Delivery in Fiscal Years 2027–2028

en.Wedoany.com Reported - On September 24, Indian PV manufacturer Waaree Energies Limited disclosed that it has secured a 2GW PV module supply order from a large Indian PV project developer. The modules are scheduled for delivery in batches during fiscal years 2026–2027 and 2027–2028. The customer's name, project location, individual project scale, and contract value have not been disclosed. This order further supplements Waaree Energies' module supply backlog in India's domestic large-scale PV project market.

Waaree Energies is currently continuing to expand its PV manufacturing capacity. The company has established approximately 15GW of annual PV module capacity and 5.4GW of annual PV cell capacity, and continues to advance new module, cell, and wafer manufacturing projects within India. In fiscal year 2026, the company's PV module output reached 12.6GW; entering fiscal year 2027, the company disclosed that its order backlog has reached approximately INR 615 billion, providing support for subsequent capacity ramp-up and order delivery.

Alongside the announcement of this 2GW module order, the board of directors of Waaree Energies also approved a merger plan to merge group subsidiary Indosolar Limited into Waaree Energies. Indosolar currently primarily engages in PV module manufacturing but does not possess its own PV cell production capacity, requiring it to procure core raw materials from Waaree Energies or external suppliers. Upon completion of the merger, Waaree plans to further integrate its cell and module manufacturing systems, unifying production planning, inventory management, and raw material supply.

According to Waaree Energies' previously announced capacity expansion plan, the company is also advancing the construction of manufacturing capabilities for modules, cells, wafers, energy storage systems, inverters, and electrolyzers. Among these, the additional PV module capacity will continue to be released at manufacturing bases including Gujarat, India, forming a more complete manufacturing chain from upstream wafers and cells to modules. This 2GW order will primarily enter its delivery cycle over the next two fiscal years.