“On the demand side we have a robust order book of ~₹49,000 crore (INR 490 billion/$5.6 billion) and a global pipeline of 100+ GW, reflecting positive market sentiments across key geographies,” shared Waaree Energies Whole Time Director and CEO Dr. Amit Paithankar. “A strong and sharp focus on costs and profitability is reflected in our financials. We maintain our FY26 EBITDA guidance of ₹5,500 to ₹6,000 crore (INR 55 billion to INR 60 billion/$633 million to $687 million).”
Its order book includes 2.23 GW for Waaree Solar Americas. In total, 58.7% of the orderbook is for the Indian market, while the remaining 41.3% is from overseas. Waaree Energies targets adding 4.8 GW of module capacity during FY26. By FY27, it aims to expand its aggregate solar module production capacity to 25.7 GW, cell capacity to 15.4 GW, and ingot-wafer capacity to 10 GW.
Waaree also shared that its green hydrogen, inverter, and battery energy storage system (BESS) facilities are also under construction. For green hydrogen, it is developing a 300 MW plant in Valsad’s Dungri in Gujarat. The lithium-ion storage cell and energy storage system facility in Valsad’s Rola is scheduled to come online by FY27. For inverters, it aims to bring online its Sarodhi, Valsad factory with an annual capacity of 3 GW by FY26.
Recently, another Indian solar PV manufacturer, Premier Energies Limited, also reported its Q1 FY26 financials with a record quarter underpinned by strong domestic market demand (see Premier Energies’ Q1 FY26 Revenues Grow By Over 12% QoQ).
