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Waaree Energies Expands Manufacturing into Batteries, Transformers, and Transmission
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CNBC TV18•23-09-2026, 15:35
Waaree Energies Expands Manufacturing into Batteries, Transformers, and Transmission
- •Waaree Energies is diversifying its manufacturing beyond solar modules into batteries, transformers, transmission equipment, and upstream manufacturing.
- •The company has secured shareholder approval for a ₹10,000 crore QIP but is currently fully funded and will tap the market when additional funds are required.
- •Waaree secured a 2 GW solar module supply order from a large Indian developer, with execution over the next four quarters and expected margins of 15-20%.
- •Despite intense competition, Waaree plans to maintain its premium positioning, focusing on product quality and reliability rather than competing solely on price.
- •Waaree is expanding its US manufacturing footprint to 4.5 GW and expects continued growth in its overseas customer base, despite a projected decline in Indian exports.
Key Questions Answered
Waaree Energies is expanding its manufacturing value chain beyond solar modules to include batteries, transmission equipment, transformers, and upstream manufacturing.
Waaree Energies is expanding its local manufacturing footprint in the US, where its capacity is expected to reach 4.5 GW of locally manufactured products.
Waaree Energies continues to maintain its EBITDA guidance in the range of ₹7,000 to ₹7,700 crore.
