Solar module manufacturer Waaree Energies has received an order to supply 500 MW of solar modules from a domestic independent power producer (IPP). The order involves the supply of solar modules under a one-time contract.

Waaree Energies will supply the solar modules during the financial year 2026–27, aligning the execution timeline with the customer’s project commissioning schedule.

The modules will be deployed in grid-connected solar power generation projects owned and operated by the IPP.

Waaree Energies’ revenue from operations for the third quarter of FY 2026 rose 118.8% year-over-year (YoY) to ₹75.65 billion (~$826.77 million) from ₹34.57 billion (~$377.84 million).

The company’s total solar module manufacturing capacity stands at 22.3 GW globally, comprising 19.7 GW in India and 2.6 GW in the U.S. It has a solar cell manufacturing capacity of 5.4 GW. The company’s 5.4 GW solar cell manufacturing facility is in Chikli, Gujarat.

In January, Waaree also secured solar module supply orders for both domestic and international markets. The company received an order to supply 210 MW of Domestic Content Requirement (DCR)-compliant solar modules to an Indian renewable energy developer.

In December 2025, the company received a domestic order for the supply of solar modules with a total capacity of 1,500 MW from a domestic customer engaged in power generation, transmission, and distribution.

In November 2025, the company secured another order to supply 360 MW of modules to an undisclosed customer that develops, owns, and operates utility-scale solar and energy storage projects.

The Ministry of New and Renewable Energy (MNRE) recently expanded the Approved List of Models and Manufacturers (ALMM) by adding 17,268 MW of solar module capacity. The cumulative module manufacturing capacity under ALMM now stands at 162,109 MW.

The MNRE also issued the fifth revised list of the ALMM List-II for solar cells, adding 437 MW.