Waaree Energies has announced securing significant orders for solar modules, marking a major milestone for the renewable energy company. The company received two substantial orders that collectively demonstrate strong market demand for its solar energy solutions.

Order Details

The company's recent order wins showcase its diversified product portfolio and market reach:

DCR Solar Module Order

Waaree Energies secured an order for 210 MW DCR solar modules, which are specifically designed to meet Domestic Content Requirement norms. DCR compliance is crucial for solar projects that seek to benefit from government incentives and policies promoting domestic manufacturing in India's solar sector. This order demonstrates the company's capability to manufacture products that align with regulatory requirements while maintaining quality standards.

Major Solar Module Contract

In addition to the DCR order, Waaree Energies received a substantial order for 2,000 MW solar modules. This large-scale order reflects the company's manufacturing capacity and its ability to handle significant volume requirements from clients. The order represents a considerable portion of solar module capacity and indicates strong confidence from customers in Waaree Energies' product quality and delivery capabilities.

Market Position

These orders collectively total 2,210 MW of solar module capacity, positioning Waaree Energies as a key player in India's renewable energy sector. The combination of DCR-compliant modules and standard solar modules demonstrates the company's versatility in meeting diverse market requirements. The orders reflect the growing demand for solar energy solutions in India and the company's ability to capitalize on market opportunities.

The announcement underscores Waaree Energies' strong order book and its role in supporting India's renewable energy objectives through domestic manufacturing capabilities.

Waaree Energies Limited has announced the incorporation of eight step-down subsidiaries through its wholly-owned subsidiary Waaree Forever Energies Private Limited. The company informed stock exchanges on January 16, 2026, that certificates of incorporation for all eight entities have been received.

Corporate Structure and Ownership

The newly incorporated companies are wholly-owned subsidiaries of Waaree Forever Energies Private Limited, which itself is a wholly-owned subsidiary of Waaree Energies Limited. This creates a step-down subsidiary structure that provides operational flexibility for the company's expanding power generation portfolio.

Newly Incorporated Entities

The eight subsidiaries were incorporated over a three-day period in January 2026, with specific incorporation dates as follows:

Business Purpose and Industry Focus

All eight companies are incorporated specifically for Independent Power Producer (IPP) operations. The entities are designed to facilitate and hold specific power projects under the IPP framework, expanding Waaree Energies' presence in the power generation sector.

Key aspects of the new subsidiaries include:

• Dedicated focus on IPP projects
• Strategic positioning for power project development
• Enhanced operational structure for project management
• Expansion of the company's renewable energy portfolio

Regulatory Compliance

The incorporation announcement was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring full regulatory compliance.

Since these are newly incorporated entities, they currently have no turnover or operational history. The companies are registered in India and will operate under the regulatory framework governing Independent Power Producers in the country.