Waaree Energies Limited shares traded flat on Tuesday, March 29, 2025, following the announcement of a new advanced gigafactory in Gujarat. The company, which is the largest exporter of solar modules in India, inaugurated the 5.4 GW facility in Chikhli, Gujarat, on March 29, 2025. Investors looking to invest in stocks have been closely monitoring the developments in the renewable energy sector.
Details of the gigafactory
The new gigafactory spans 150 acres, with a built-up area of 101 acres. This facility is designed to enhance the company's solar cell manufacturing capacity and support India's growing renewable energy needs.
It is equipped with advanced high-efficiency solar cell technology, aligning with the company's focus on research-driven innovation, precision engineering, and sustainability. Investors aiming to invest in stocks in the renewable energy sector are observing the impact of this expansion on the company's performance.
Global expansion plans
In addition to the Chikhli facility, the board of directors has approved the establishment of an additional 1.6 GW module manufacturing line at its unit in Brookshire, Texas, USA. Furthermore, Waaree Energies plans to set up additional module manufacturing lines with a capacity of 3.2 GW at its plant in Navsari, Gujarat.
Order book and market share
In FY24, Waaree Energies held a 21% market share in the domestic solar sector and accounted for 44% of India's solar module exports. The company currently has an order book of ₹50,000 crores, with 54% of orders coming from the overseas market and 46% from domestic sales. Investors who invest in stocks in the renewable sector may consider this as a key indicator of the company's growth potential.
Product portfolio
Waaree Energies manufactures a diverse range of Solar Photovoltaic (PV) modules, including:
The expansion of the product portfolio aligns with the growing demand for solar energy solutions. Investors interested in renewable energy opportunities may find this development relevant when they invest in stocks within this sector.
Stock performance
Waaree Energies reinforces its leadership in the renewable energy sector with its new gigafactory and ambitious global expansion plans. At 11:10 AM on Tuesday, April 1, 2025, Waaree Energies shares were trading at ₹2,388.75 per share on the National Stock Exchange (NSE). Investors looking to invest in stocks in the renewable energy market will keep a close watch on further developments from the company.
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