Waaree Energies Ltd. , a prominent player in the solar energy sector, has announced a significant milestone for its US subsidiary, Waaree Solar Americas. The company has secured a substantial 540 MW solar module supply contract from a major American utility-scale solar developer, further solidifying its position in the US market.

Contract Details

The newly acquired contract is structured with a phased delivery approach:

• 270 MW to be delivered in 2025
• The remaining 270 MW scheduled for delivery during 2027-2028

This strategic arrangement allows for a steady supply of solar modules over an extended period, potentially providing stability to both the supplier and the customer.

Growing US Presence

This latest deal adds to Waaree's expanding portfolio of large-scale orders in the United States. The company has recently secured other significant contracts, including:

• A 586 MW deal
• A 599 MW order

These consecutive large orders underscore the growing demand for Waaree's solar modules in the US market and reflect the company's increasing prominence in the utility-scale solar sector.

Manufacturing Expansion Plans

To meet the rising demand and strengthen its market position, Waaree Energies has ambitious plans for its US manufacturing capabilities:

• The company aims to double its manufacturing capacity in Texas
• The target is to reach 3.20 GW capacity by the end of 2025
• This expansion is likely to enhance Waaree's ability to fulfill large orders and reduce delivery times

Compliance with US Trade Norms

In an important note for its US operations, Waaree Energies has stated that it is compliant with US trade norms. This compliance is crucial for maintaining smooth business operations and fostering trust with American clients and regulatory bodies.

Market Implications

The series of large orders secured by Waaree Solar Americas signals a positive outlook for the company's growth in the US solar market. As the demand for renewable energy continues to rise, Waaree's expanded manufacturing capacity and strong order book position it well to capitalize on the growing opportunities in the utility-scale solar sector.

The phased delivery of the latest 540 MW order, spanning from 2025 to 2028, also suggests a long-term commitment from US developers to Waaree's solar technology, potentially indicating confidence in the company's product quality and reliability.

As Waaree Energies continues to strengthen its foothold in the US market, investors and industry observers will likely keep a close watch on the company's performance and its ability to execute these large-scale contracts efficiently.

Waaree Energies , through its subsidiary WaareeIndo (formerly known as Indosolar), has experienced a remarkable turnaround since its acquisition through the Corporate Insolvency Resolution Process (CIRP). The company's stock has been on a significant upward trajectory since its relisting under the new name 'WaareeIndo'.

Stock Performance

Despite undergoing a substantial 100:1 share reduction, WaareeIndo's stock has been consistently hitting upper circuits, indicating strong investor interest in the company's renewed prospects.

Financial Turnaround

In a notable shift from its previous financial struggles, WaareeIndo has reported a profitable quarter:

This profit marks a significant turnaround for the company, which had been grappling with losses in previous periods.

Acquisition Impact

The acquisition by Waaree Energies appears to have breathed new life into the former Indosolar operations. The positive financial results and the stock's performance suggest that the market is responding favorably to the changes implemented post-acquisition.

Looking Ahead

While the company's recent performance is encouraging, investors and market watchers will likely be keen to observe WaareeIndo's sustained performance in the coming quarters. The ability to maintain profitability and capitalize on potential synergies with Waaree Energies could be key factors in the company's future trajectory.

Note: Investors are advised to conduct their own research and consider market risks before making investment decisions.