What's Happening?
Waaree Energies Ltd. has become India's largest solar module manufacturer under the Approved List of Models and Manufacturers (ALMM), with a domestic capacity exceeding 20 GW. The Ministry of New and Renewable Energy (MNRE) has approved Waaree's manufacturing
facility in Chikhli, Gujarat, for 16.444 GW, contributing to a total capacity of 20.17 GW. The company has introduced new high-efficiency modules, including G12R TOPCon, G12 TOPCon, and G12 HJT, to cater to various solar installations. This expansion aligns with India's goal to achieve 500 GW of non-fossil fuel capacity by 2030.
Why It's Important?
Waaree Energies' expansion is significant for India's renewable energy sector, as it supports the country's ambitious targets for solar capacity and energy security. The increased domestic manufacturing capacity helps reduce reliance on imports, stabilizes costs, and ensures quality assurance. The introduction of advanced photovoltaic technologies positions Waaree as a leader in the solar industry, potentially influencing market dynamics and encouraging further investments in renewable energy infrastructure.
