Major player in renewable energy Waaree Energies Ltd. stated in an exchange filing on Tuesday that it has obtained an order from a “renowned customer” involved in the development and operation of renewable power projects in India for the supply of modules up to 600 MWp.
One of India’s top developers of renewable energy projects has placed a sizable order for 600 MWp solar modules with Waaree Energies Ltd. the own exchange filing indicates that the module order is anticipated to be supplied beginning in FY 2025–2026. Since it was listed on Dalal Street in October 2024, it has gotten two orders, including this one. It said earlier this month that it has obtained a new order for 180 MWp solar modules to be supplied to a developer of renewable energy. The 180 MWp order supply will start at the end of November 2024 and be finished by Q4 of FY 2025.
Waaree Energies Q2 FY25 results
Waaree Energies reported a roughly 15% increase in consolidated post-tax profit to ₹361.6 crore in the July-September quarter of the fiscal year 2024-25, compared to ₹315 crore in the previous period. In the current quarter, revenue from operations increased by 1% to ₹3,574.3 crore, compared to ₹3,537.2 crore the previous year. In Q2 of the current fiscal year, overall income climbed by 2.9% YoY to ₹3,663.4 crore.
Additionally, the business approved a ₹600 crore investment to establish and develop land and communication infrastructure to assist the growth of renewable power projects and the bidding pipeline.
About Waaree Energies
Waaree Energies is the top renewable energy firm in India, having been founded in 1990. With its headquarters located in Mumbai, it runs state-of-the-art manufacturing facilities that can produce 13.3 GW of solar PV modules installed, including 1.3 GW from Indosolar. It provides cutting-edge solar solutions, such as rooftop systems, EPC services, panel manufacturing, and project development, and is present throughout India and more than 25 other countries globally.
