Waaree Energies To Supply 445 MW solar Modules To Statkraft India
Last Updated: October 6, 2025 | 3 min read
Rishabh Oberoi
Financial Content Writer. 5 Years of experience of working and marketing Fintech Solutions.
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Last Updated: October 6, 2025 | 3 min read
Financial Content Writer. 5 Years of experience of working and marketing Fintech Solutions.
Waaree Energies - a leading solar solutions provider announced recently that it will supply 445 MW of solar modules to Statkraft India. As per the Company, these 540/545Wp dual glass bifacial solar modules will illuminate single-location solar projects in Bikaner, Rajasthan.
The supply is scheduled to be delivered between May and August 2024. This contract highlights Waaree Energies' commitment to transforming India's renewable energy landscape by meeting its increasing power demands. It will support the nation's journey towards achieving net-zero emissions goals.
Hitesh Doshi, chairman and managing director of Waaree Energies, highlighted the significance of the partnership with Statkraft India.
Waaree Energies was founded in 1990. They commenced their operations in 2007 and focused on manufacturing solar PV modules. Here are some key highlights of the Company.
Statkraft is a Norwegian hydropower company known for its leadership in renewable energy across Europe. Key spotlights of the Company are as follows.
Waaree Energies Limited plans to launch an initial public offering (IPO) of its equity shares. This is pending subject to necessary approvals, market conditions, and other factors. The company has already submitted a draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI).
If we look at the financials Waree’s EBITDA has jumped 8X from Rs 118 crore in FY22 to Rs 835 crore in FY23. Their operating profit margin increased from 4.13% in FY 22 to 12.37% last year. This signifies a jump in Waree’s scale of operations and operating efficiency.
They have recently bagged a 412.5 MW Solar Project in Rajasthan and continue to grow in their operations. With the ongoing growth rate, investing in the current waaree energies ltd share price can be a gainful investment.
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