trailblazing through a sunrise industry
The Business
India has clear ambitions to decarbonise by reducing the over-reliance on conventional, non-renewable sources of energy. The government has created multiple programs to incentivise renewable energy generation and production. India has announced a solar energy target of 300 GW by 2030, from 50 GW by 2022. However, in order to meet these targets India needs to have multiple companies willing to produce solar energy for the masses.
Sustainability Story
Waaree is one of the largest solar panel manufacturers in India. It supplies solar panels to India as well as 68 other companies. Waaree import solar cells, create panels and then either export the panels or sell them to domestic stakeholders. They have installed an aggregate capacity of 2.5 GW, and they plan to add another 5 GW of capacity by December 2022.
Peak's Angle
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Waaree has grown to become one of the largest solar panel manufacturers in the country. They have the highest installed capacity of solar module manufacturers in India.
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Waaree has developed a strong franchisee presence across most regions in India, with over 380+ franchised outlets that deal with end-consumer requirements of rooftop solar for homes
Founders
Hitesh Doshi
Founder, Chairman and CEO of Waaree Energy
40 years of experience in the solar sector