Bharat‘s Largest Solar Cell Manufacturing Gigafactory Inaugurated by Solar Company in Chikhli, Gujarat
The company's Price-Earnings (PE) Ratio stands at 70.
Waaree Energies Ltd., a prominent player in India's renewable energy sector, has inaugurated the country's largest solar cell manufacturing gigafactory in Chikhli, Gujarat. This state-of-the-art facility, with a capacity of 5.4 GW, underscores Waaree's commitment to advancing India's clean energy landscape. The inauguration was attended by notable dignitaries, including Gujarat's Chief Minister Bhupendra Patel and Union Minister Pralhad Joshi. The facility spans 150 acres and is equipped with cutting-edge solar cell technology, aligning with India's broader goals of decarbonization and energy independence.
Hitesh Doshi, Chairman & Managing Director of Waaree Energies, emphasized the gigafactory's role in propelling India towards energy independence and technological leadership. The plant is expected to generate over 9,500 direct jobs and around 30,000 indirect employment opportunities, significantly contributing to local economic development. Waaree Energies continues to play a pivotal role in achieving India's ambitious target of 500 GW of renewable energy by 2030, with a strong focus on indigenous manufacturing and sustainability.
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Waaree Energies Limited, established in December 1990, is a leading Indian manufacturer of solar PV modules with a significant installed capacity of 12 GW. The company operates five manufacturing facilities across India, with a strong international presence. Waaree holds a 21 per cent share of the domestic solar module market and a 44 per cent share in India's solar module exports. The company's product portfolio includes advanced technologies like Tunnel Oxide Passivated Contact (TOPCon) modules, which enhance efficiency and minimize energy loss.
Waaree's manufacturing facilities are strategically located in Gujarat and Uttar Pradesh, with plans to expand capacity to 20.9 GW by 2027. The company is also setting up a 1.6 GW facility in Houston, Texas, to cater to the U.S. market. Waaree's revenue is primarily driven by solar PV modules, accounting for 78 per cent of total revenue, with significant contributions from export sales. The company is focused on backward integration to reduce dependency on imported solar cells, with plans for a fully integrated facility in Odisha. Waaree's substantial order book of 16.6 GW reflects its strong market position and growth potential.
Waaree Energies Ltd. has a market capitalization of over Rs 69,000 crore. The company's Price-Earnings (PE) Ratio stands at 70. Major public shareholders include Kalpraj Damji Dharamshi with 2.32 per cent, V T Energy Srl with 2.17 per cent, Het Paresh Mehta with 1.22 per cent and Madhuri Madhusudan Kela (wife of Madhusudan Kela) with 1.16 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.