Waaree Energies, one of India’s leading renewable energy companies, has made headlines after its US subsidiary secured a 452 MW solar module supply order for large-scale projects in America. This milestone order reflects Waaree’s growing global presence and gave investors reason to cheer, sending the company’s stock to an eight-month high.
The achievement underlines Waaree’s strong execution capabilities, international ambitions, and its alignment with the accelerating global transition to clean energy.
Waaree Energies: A Leading Name in Renewable Energy
Waaree Energies has established itself as a major force in the renewable energy space, with a strong focus on solar photovoltaic (PV) modules and cells manufacturing.
- Module capacity: ~15 GW
- Cell capacity: ~5.4 GW
This significant manufacturing base gives Waaree a competitive edge both in India and globally. Beyond the domestic market, Waaree has expanded its footprint to 25+ countries, consistently winning international orders.
The company is working toward becoming an end-to-end green energy solutions provider, supporting the entire solar value chain and catering to the rising demand for clean energy worldwide.
The 452 MW US Order: A Strategic Breakthrough
The latest order involves supplying 452 MW of solar modules to a major utility-scale solar project developer in the United States. This contract is part of Waaree’s FY26–27 supply schedule and underscores the company’s increasing relevance in the American renewable energy market.
Notably, this deal follows other significant wins:
- 540 MW order in June 2025
- 586 MW and 599 MW orders earlier this year
Together, these international orders demonstrate Waaree’s ability to consistently attract large contracts from overseas developers.
The US has emerged as a key growth market for Waaree, aided by its 1.6 GW module manufacturing facility in Texas, which positions the company strategically to meet local demand while complying with domestic sourcing preferences and clean energy policies.
Robust Order Book and Project Pipeline
Waaree’s strong execution and global expansion are reflected in its impressive order book and pipeline:
- Order book: ~₹49,000 crore (equivalent to ~25 GW of projects)
- Project pipeline: Over 100 GW
This healthy backlog gives Waaree significant revenue visibility and a clear path for sustained growth in the coming years.
Strong Financial Performance Backing Expansion
In addition to its operational milestones, Waaree Energies has delivered solid financial results.
For Q1 FY26, the company reported:
- Healthy revenue growth supported by domestic and international orders.
- Significant jump in profitability, showcasing improved margins and efficient operations.
Looking ahead, Waaree has set an ambitious guidance for FY26, targeting an EBITDA of ₹5,500–6,000 crore. Such confident projections highlight the company’s optimism and ability to translate its strong pipeline into tangible financial performance.
Strategic Importance of the US Market
The United States is currently one of the largest and fastest-growing solar markets globally. With supportive government policies, such as clean energy tax credits under the Inflation Reduction Act (IRA), demand for renewable energy infrastructure is expected to surge in the coming decade.
Waaree’s growing foothold in the US, marked by this 452 MW order and its Texas facility, perfectly aligns with these tailwinds. By establishing a credible presence in North America, Waaree is positioning itself as a long-term strategic supplier in one of the world’s most lucrative renewable markets.
Why This Matters for Investors
For investors, the recent developments around Waaree Energies carry several important takeaways:
- Global Expansion in Motion – With multiple wins across international markets, Waaree is successfully executing its overseas growth strategy.
- Robust Order Book – A ₹49,000 crore backlog provides strong revenue visibility, reducing earnings volatility.
- Financial Strength – The Q1 FY26 performance and strong guidance point to sustained profitability.
- Sector Tailwinds – Supportive policies in both India and the US, along with global decarbonisation efforts, create a favourable long-term environment.
- Stock Market Confidence – The latest contract win lifted Waaree’s stock to an eight-month high, signalling investor optimism.
The Road Ahead
Waaree Energies’ expansion strategy blends scale, execution, and market diversification. Key priorities moving forward include:
- Scaling global operations with a sharper focus on the US and Europe.
- Expanding domestic capacity to cater to India’s growing renewable demand.
- Investing in technology and R&D to enhance efficiency and competitiveness.
- Capturing value across the clean energy chain, from module manufacturing to end-to-end green energy solutions.
As renewable energy transitions from being a niche sector to a mainstream global priority, Waaree is well-positioned to ride this structural growth wave.
Conclusion
The 452 MW solar module order in the US marks another major milestone in Waaree Energies’ global journey. Backed by a strong order book, expanding international presence, and consistent financial performance, the company is carving out a leadership position in the renewable energy space.
While short-term market movements may come and go, Waaree’s strategic expansion, operational excellence, and alignment with global clean energy trends suggest that its long-term growth story remains firmly intact.
For investors and industry watchers alike, Waaree Energies is emerging as a key player not just in India, but in the global renewable energy landscape.
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Yash Vora is a financial writer with the Informed InvestoRR team at Equentis. He has followed the stock markets right from his early college days. So, Yash has a keen eye for the big market movers. His clear and crisp writeups offer sharp insights on market moving stocks, fund flows, economic data and IPOs. When not looking at stocks, Yash loves a game of table tennis or chess.
