Waaree Energies jumps as U.S. subsidiary secures $176 million solar module order

Waaree Energies surged 6.69% to Rs 2,984 after the company announced that its wholly owned subsidiary, Waaree Solar Americas, has secured an order worth $176 million from a prominent U.S.-based client.

According to an exchange filing, Waaree Solar Americas received the order on 28 May 2025 for the supply of 586 MW of solar modules. The customer is a well-established developer and operator of utility-scale solar and energy storage projects across the United States.

The delivery of solar modules under this contract is scheduled to commence in the financial year 2026?27.

The company clarified that the contract does not involve any related party transactions and confirmed that neither the promoter, the promoter group, nor any group companies have any interest in the awarding entity.

Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 15 GW for solar PV modules and 5.4GW for solar cells. With presence across India and 25+ countries worldwide, we offer innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems.

The company reported 34.10% surge in consolidated net profit to Rs 618.91 crore in Q4 FY25 as against Rs 461.52 crore posted in Q4 FY24. Revenue from operations climbed 36.38% year on year (YoY) to Rs 4,003.93 crore in the quarter ended 31 March 2025.

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