Waaree Energies has been unveiled as winner of the Publisher’s Pick in the pv magazine Awards 2024, in recognition of its pioneering efforts in the Indian PV market and beyond.
Each year the pv magazine Awards recognizes companies from across the globe for their contribution to the solar and storage industries. Waaree Energies was selected by pv magazine publisher Eckhart K. Gouras, who praised the company for its role in the Indian PV market and its success in expanding solar manufacturing capacity outside of China.
“Given Waaree’s pioneering efforts in the Indian PV market, and its continued leadership position in India, we have selected Waaree as this year’s Publisher’s Pick award winner,” said Gouras. “It is the first time we honor an Indian company with this award and it recognizes the great strides the Indian PV market – and Waaree – have made ever since prime minister Narendra Modi announced an ambitious program to jumpstart the Indian solar industry.”
Founded by Hitesh Doshi in 1989, Waaree has established itself as a successful solar manufacturer operating on the world stage. In addition to its main factory in Gujarat, the company has been building a 5.4 GW cell factory near Surat and a 6 GW wafer-to-module manufacturing hub in Odisha.
Waaree has also made waves in the United States. The manufacturer is set to open its first overseas factory near Houston, Texas, with annual production capacity of 3 GW. This would complement the 12 GW of module capacity the manufacturer already has in place in India.
To finance its expansion, Waaree Energies went public on the Bombay Stock Echange in 2024, raising INR 27,750 million ($327 million) in the last quarter of 2024.
Full coverage of the pv magazine Awards 2024 is available in the pv magazine Global Winter Edition. The full list of winners for 2024 is available here.
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