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 Chikhli facility for 16.444 GW, contributing to a total capacity of 20.17 GW, including Indosolar. The company has introduced high-efficiency modules like G12R TOPCon, G12 TOPCon, and G12 HJT, enhancing its technological offerings. This expansion supports India's goal of achieving 500 GW of non-fossil fuel capacity by 2030, emphasizing domestic manufacturing for energy security and cost stability.
Why It's Important?
Waaree Energies' expansion is crucial for India's renewable energy ambitions, particularly in achieving its
2030 target. By increasing domestic manufacturing capacity, Waaree enhances energy security and reduces reliance on imports, which can stabilize costs and ensure quality. The introduction of advanced module technologies positions Waaree as a leader in the solar industry, potentially influencing market trends and encouraging further investment in renewable energy infrastructure. This development also reflects the broader trend of integrating advanced technologies to meet evolving energy demands.
