One of India’s largest solar companies gets a big order of 180 MWp, will the share see profit?

One of India’s Largest Solar Companies Gets a Big Order of 180 MWp

Vaari Energies Limited, a prominent player in India’s solar industry, has secured a significant order from a domestic renewable energy company for the supply of solar PV modules totaling 180 MW. This project is set to kick off in late November 2024 and is expected to be completed by the end of fiscal year 2025, marking a substantial advancement for India’s renewable energy sector.

Recent Orders

The company has witnessed remarkable growth, with its installed capacity soaring from 2 GW in FY21 to 13.3 GW by FY24. Vaari offers a diverse range of products, including multicrystalline and monocrystalline modules. Currently operating five manufacturing facilities across India, the company aims to increase its capacity to 20.9 GW by 2027.

Future Projects

To cater to rising demand, Vaari Energies is establishing a 1.6 GW solar PV module manufacturing facility in Houston, Texas, expected to be operational by FY25. Additionally, plans for a 6 GW integrated facility in Odisha are underway, anticipated to launch by FY27.

Know More Financial Details About the Company

With a current market capitalization of ₹96,201 crore, Vaari Energies has captured a 21% share of the domestic solar module market and a remarkable 44% share in solar module exports. This strong order book, totaling 16.6 GW, positions Vaari Energies as a key player in renewable energy investment opportunities.