Waaree Energies has secured a major order for 500MW solar modules from a leading Independent Power Producer, as disclosed in its regulatory filing under SEBI Listing Regulations. The company received this significant order on February 23, 2026, from a renowned customer engaged in Independent Power Producer business, marking a substantial business milestone for the renewable energy manufacturer.

Order Specifications

The order details reveal a comprehensive supply arrangement for the upcoming financial year. According to the company's disclosure to stock exchanges, the modules are scheduled for delivery during FY 2026-27, providing clear revenue visibility for the company.

Regulatory Compliance

Waaree Energies has fulfilled its disclosure obligations under Regulation 30 of SEBI Listing Regulations, providing transparency to stakeholders about this material contract. The company confirmed that this order does not involve any related party transactions and maintains arm's length commercial terms.

Strategic Significance

This substantial order reinforces Waaree Energies' competitive position in India's expanding solar energy market. The company's ability to secure large-scale contracts from established power developers demonstrates its manufacturing capabilities and market credibility in the renewable energy sector.

The order represents a significant addition to the company's business portfolio, providing revenue certainty and strengthening its order book. Such contracts from leading Independent Power Producers align with India's renewable energy expansion goals and position Waaree Energies as a key supplier in the growing solar module market.

Waaree Energies has formalized two significant agreements in the green hydrogen sector through its wholly owned subsidiary, Waaree Clean Energy Solutions Private Limited. The company announced an Electrolyzer as a Service (EAAS) agreement for a 2.5 MW electrolyzer with Zero Footprint Industries Ltd (ZFI) and a strategic memorandum of understanding to supply 50 MW of electrolyzers, collectively supporting India's green hydrogen mission.

Strategic Partnership Details

The agreements represent a comprehensive approach to green hydrogen development in Northern India. Under the EAAS model, Waaree will design, engineer, supply, install, commission, own and operate a 2.5 MW alkaline electrolyzer system manufactured at its Dungri plant in Gujarat.

Project Timeline and Implementation

The first project follows an accelerated timeline of approximately seven months, positioning it among the fastest implementations globally. Stack delivery is scheduled for the second quarter of FY 2026-27, with commercial operations expected by the third quarter of FY 2026-27.

The project targets multiple industrial sectors including mentha oil, chemical, steel and pharmaceutical industries, facilitating their transition from grey hydrogen to green hydrogen. ZFI's existing merchant green hydrogen plant of 250 m3/hr in Uttar Pradesh provides operational foundation for this expansion.

Market Impact and Environmental Benefits

The combined 52.5 MW capacity from these agreements supports India's National Green Hydrogen Mission target of 5 MMTPA production. The project is backed by Uttar Pradesh New & Renewable Development Agency (UPNEDA) under its Green Hydrogen Policy 2024.

Anuj Sharma, CEO of Hydrogen business at Waaree, emphasized the agreement demonstrates the company's advanced alkaline electrolyzer technology and operational capabilities. The EAAS model provides a scalable solution for rapid green hydrogen deployment across decentralized locations while ensuring reliable operations and energy efficiency.