Waaree Energies US Solar Contract: Shares Jump 3% After Securing 540 MW Deal

Waaree Energies US Solar Contract

Waaree Energies US Solar Contract: 540 MW Deal Boosts Global Expansion and Investor Confidence

Waaree Energies, India’s largest manufacturer of solar photovoltaic (PV) modules, has achieved a major milestone in its global growth strategy. The company’s wholly-owned subsidiary, Waaree Solar Americas, has secured a significant 540 MW solar module supply contract from a top-tier American developer. This marks a pivotal development under the Waaree Energies US Solar Contract, which reinforces the company’s expanding footprint in the North American solar energy market.

Waaree Energies US Solar Contract Strengthens North American Presence

The Waaree Energies US Solar Contract is not just another overseas order—it is a strategic win that highlights the growing influence of Indian solar manufacturing on the global stage. The contract involves a one-time supply of 540 MW solar modules, with delivery split into two phases: 270 MW scheduled for 2025, and the remaining 270 MW to be delivered during 2027–2028.

The American client, a leading utility-scale solar and energy storage project developer, has chosen Waaree Solar Americas based on its proven capabilities, advanced manufacturing technologies, and strong project execution track record. This deal is the third major contract the company has secured in the U.S., further cementing its position as a reliable supplier in the competitive international solar energy landscape.

Shares Rally Following Waaree Energies US Solar Contract

Following the announcement of the Waaree Energies US Solar Contract, Waaree Energies’ shares surged as much as 4.1%, reaching an intraday high of ₹3,070.00 on the BSE. This sharp upward movement from the previous close of ₹2,947.85 demonstrates strong investor confidence driven by international growth prospects.

With a market capitalization of over ₹87,000 crore, the company has become one of the most closely watched clean energy stocks in India. The recent stock rally is a direct response to the increasing number of international orders, particularly from high-value markets like the United States.

Waaree Energies US Solar Contract Supported by Strong Financials

The company’s financial performance reflects its operational efficiency and ability to scale. In Q4 FY24-25, Waaree Energies reported a 37.6% year-on-year increase in revenue, rising from ₹3,007.44 crore to ₹4,140.92 crore. Net profit also jumped significantly from ₹461.52 crore to ₹618.91 crore during the same period.

For the full fiscal year FY25, revenue from operations reached ₹14,444.50 crore—a 26.73% increase from ₹11,397.61 crore in FY24. Meanwhile, annual profit after tax (PAT) soared by 51.30% to ₹1,928.13 crore, up from ₹1,274.38 crore the previous year.

These robust financials provide a strong foundation for delivering large-scale international orders such as the Waaree Energies US Solar Contract.

Operational Strength Behind Waaree Energies US Solar Contract

Waaree Energies maintains strong financial health with a P/E ratio of 45.27, significantly lower than the industry average of 63.82, indicating an attractive valuation. Its low debt-to-equity ratio of 0.13 and consistently high operational returns highlight the company’s efficient capital management.

Over the last three years, the company has delivered an average Return on Equity (ROE) of 26.17% and Return on Capital Employed (ROCE) of 26.59%. This performance aligns with its strong three-year revenue CAGR of 58.65% and net profit CAGR of 151.98%, which are among the highest in the renewable energy sector.

These strengths enable Waaree to not only win global contracts but also fulfill them efficiently, which is crucial in delivering on the Waaree Energies US Solar Contract.

Expanding Manufacturing Capacity and Order Book

To support large-scale deals like the Waaree Energies US Solar Contract, the company is rapidly expanding its manufacturing capabilities. Waaree currently operates with 15 GW of solar module capacity and 5.4 GW of solar cell capacity, supported by backward integration in ingots and wafers.

The company is also doubling its production capacity in Texas, which will enable faster, localized supply to U.S. clients and reduce logistics costs. As of March 2025, Waaree Energies boasts a massive order book worth ₹47,000 crore, with 57% of orders from international markets, underlining its increasing global appeal.

Waaree Leading India’s Solar Manufacturing Boom

Waaree is not only excelling overseas but is also a major player in India’s domestic solar growth. In FY24-25, India added nearly 24 GW of new solar capacity, pushing the national total to over 105 GW as of January 2025. The country targets 280 GW by 2030.

Waaree Energies leads the domestic market with a 14.1% share in module shipments, driven by policies such as PM Suryaghar Yojana, Kusum Yojana, and SECI tenders. The company is also diversifying into emerging technologies, including Battery Energy Storage Systems (BESS) and green hydrogen electrolysers, to remain ahead of the curve.

A Comprehensive Energy Solutions Provider

Founded in 1990 and headquartered in Mumbai, Waaree Energies has evolved into a fully integrated solar solutions provider. Its offerings include solar PV modules, EPC services, rooftop solar, project development, energy storage, and hydrogen technology. The integrated approach has made it a preferred partner for global energy players—reinforced by wins such as the Waaree Energies US Solar Contract.

The company’s facilities in Gujarat and Noida, along with international infrastructure in Texas, enable it to serve a diverse client base across residential, commercial, industrial, and utility segments.

Investor Outlook on Waaree Energies US Solar Contract

The Waaree Energies US Solar Contract not only adds financial value but also positions the company for long-term global leadership in the renewable energy industry. The market has responded favorably, with the stock gaining 5.16% in the last month, 20.12% in the last three months, and 17.20% over the past year.

Investors are increasingly bullish on Waaree’s ability to execute large-scale projects efficiently while maintaining a solid balance sheet and high profitability. Deals like this boost investor trust and reflect Waaree’s status as a growth stock in the clean energy segment.

Conclusion

The Waaree Energies US Solar Contract is a significant achievement that solidifies the company’s reputation as a global leader in solar energy. With its strong manufacturing capabilities, expanding global footprint, and solid financial performance, Waaree Energies is well-positioned to drive the global energy transition forward. As international orders continue to grow, the company is expected to play a crucial role in both India’s and the world’s clean energy future.

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