Indian solar manufacturer Waaree has placed the order for a 10 GW high-efficiency module automation production line with Jinchen. The two companies signed the deal during the SNEC PV Power Expo 2023 recently held in Shanghai.
Jinchen has been a supplier to Waaree since 2017 and has signed deals and delivered for 10 GW of Waaree manufacturing capacity. The latest 10 GW agreement with Waaree is Jinchen’s biggest overseas deal ever.
Waaree is India’s largest solar module manufacturer, with a 12 GW per year production capacity. The company currently exports its products to over 20 countries worldwide. The collaboration with Jinchen brings Waaree closer to building a 20 GW manufacturing capacity.
According to a forecast by India’s Central Electricity Authority (CEA), India will install 292.6 GW of PV systems by fiscal year 2029-30. With the support and incentives provided by the government’s new energy policy, the Indian PV industry has a bright future, with competition within the market increasing by the day. This collaboration between Waaree and Jinchen will bolster the rapid development of India’s domestic PV industry and local manufacturing capacity, stated Jinchen.
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