Waaree Energies Adds Over 3,500 MW Solar Module Capacity Between Two Sites

Waaree Energies’s subsidiary, Sangam Solar One, has set up two solar module line manufacturing facilities having an annual capacity of 750 MW each, totaling 1500 MW at its factory at Samakhiali-Kutch, Gujarat, India. The company mentioned in an exchange filing that the latest project has commenced operations at such facility with effect from November 15, 2025. 

A day before the company made this announcement, it confirmed the setting up of 2 solar module line manufacturing facilities with an annual capacity of 1,050 MW each, totaling 2,100 MW at its factory at Village: Degam, Taluka – Chikli, Dist. Navsari, Gujarat, India. The project commenced operations at such facility with effect from November 14, 2025. The new capacity additions of 3600 MW add to Waaree's overall module capacity significantly, comfortbly making it the leading module maker in India by a distance. 

Adding New Capacities

During the last quarter, Waaree Energies brought many solar projects online, especially in Gujarat. The company mentioned during an investor call that it had commenced and commercialized an additional 2.75 GW of module manufacturing capacity at its Chikhli facility.

The company also expanded its presence in the US market during the last quarter by acquiring Meyer Burger's solar manufacturing assets in the US, expected to add 1.6 GW there.

Navigating DCR & Non-DCR Production

During an investor call, Sonal Shrivastava, Chief Financial Officer of Waaree Energies, said the company is working to navigate the DCR and non-DCR segments, noting that DCR products typically carry higher margins—similar to what the company earns in export markets.

With its in-house cell manufacturing now ramping up, this segment is expected to grow. Shrivastava said the DCR segment enjoys a margin premium of about 300 to 350 basis points over the normal segment, which typically has margins of around 18–19%.

Waaree Plans For Inverters

Speaking about the company’s expansion plans under a possible ALMM policy for inverters, Amit Paithankar, Director and Chief Executive Officer (CEO) of Waaree Energies, said that the company will go beyond just assembly,to set up proper electronic manufacturing equipment, including clean rooms required for this process. 

Waaree has already moved into the transformer segment, besides energy storage, seeking to plug as many gaps in the solar supply chain as it can on its own as it looks to sustain the high growth expectations from the market.