Waaree Energies Limited , a prominent player in the solar energy sector, has marked a significant milestone in its expansion journey. The company has officially commenced operations at its new state-of-the-art solar module manufacturing facility in Gujarat, India.

New Facility Details

The new manufacturing unit, boasting a capacity of 1.80 GW, is located at Village Degam, Taluka Chikli, in the Navsari district of Gujarat. Operations at this cutting-edge facility kicked off on July 31, 2025, at 10:00 am, as confirmed by the company in its regulatory filing to the BSE and NSE.

Strategic Expansion

This development represents a substantial boost to Waaree Energies' production capabilities in the solar module segment. The strategic location of the facility in Gujarat, a state known for its pro-business environment and focus on renewable energy, could potentially offer logistical and operational advantages to the company.

Regulatory Compliance

In line with its commitment to transparency and regulatory compliance, Waaree Energies promptly informed the stock exchanges about this significant development. The company's Company Secretary and Compliance Officer, Rajesh Ghanshyam Gaur, signed off on the regulatory disclosure, underlining the importance of this expansion in Waaree's growth strategy.

Market Implications

The launch of this new facility could have far-reaching implications for Waaree Energies' market position in the highly competitive solar energy sector. With an additional 1.80 GW of solar module manufacturing capacity, the company is well-positioned to meet the growing demand for solar modules in India and potentially in export markets.

This expansion aligns with India's ambitious renewable energy goals and the government's push for domestic manufacturing in the solar sector. It may also contribute to job creation and economic development in the Navsari district of Gujarat.

Investors and industry observers will likely keep a close watch on how this increased production capacity translates into Waaree Energies' market share and financial performance in the coming quarters.

Waaree Energies Limited , a leading player in India's renewable energy sector, has reported robust financial results for the first quarter of fiscal year 2026 (Q1 FY26) and reaffirmed its EBITDA guidance for the full year.

Strong Q1 FY26 Performance

The company's consolidated financial results for Q1 FY26 showcase significant year-on-year growth:

Operational Highlights

Waaree Energies achieved its highest-ever quarterly module production of 2.3 GW in Q1 FY26, demonstrating strong operational focus. The company's order book stands at an impressive ~25 GW, valued at approximately ₹49,000 crore.

EBITDA Forecast Maintained

Dr. Amit Paithankar, Whole Time Director & CEO of Waaree Energies Ltd, stated, "We maintain our FY26 EBITDA guidance of ₹5,500 to ₹6,000 crore." This reaffirmation of the EBITDA forecast underscores the company's confidence in its financial performance for the fiscal year.

Expansion Plans

The Board of Directors has approved additional capex of ₹2,754 crore for expansion of cell capacity by 4 GW in Gujarat and Ingot-wafer capacity by 4 GW in Maharashtra. This expansion will be carried out through its wholly-owned subsidiary, Sangam Solar One Private Limited.

Manufacturing Capacity

Waaree Energies operates state-of-the-art manufacturing facilities with an installed capacity of ~15 GW for solar PV modules and 5.4 GW for solar cells. The company is on track for commissioning additional module manufacturing capacity of 1.6 GW in Texas (USA) and 3.2 GW in Chikhli (Gujarat).

Future Outlook

With a robust order book and ongoing expansion plans, Waaree Energies is well-positioned to capitalize on the growing demand for renewable energy solutions. The company's strong financial performance and strategic investments in manufacturing capacity underscore its commitment to maintaining its leadership position in India's renewable energy sector.

As Waaree Energies continues to deliver cutting-edge, cost-effective energy solutions, it remains focused on empowering a greener future and accelerating the global energy transition.