About Waaree Energies
Waaree Energies is an integrated solar power solutions company. It facilitates photovoltaic (PV) modules, engineering, procurement, and construction (EPC) utility grid projects, and kilowatts (KW) rooftop solutions. It offers operations, maintenance, and installation services for floating, rooftop, and floor solar panels.The company was founded in 1989 and is based in Mumbai, India.
Expert Collections containing Waaree Energies
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Waaree Energies is included in 1 Expert Collection, including Renewable Energy.
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Latest Waaree Energies News
Feb 8, 2024
A majority of the winners of India's PLI scheme have listed supply chain partners and service providers from China, according to a report by Business Standard. Renewable energy sector leaders such as Reliance New Energy Solar, Tata Power , ReNew Solar, Avaada Electro, and Waaree Energies have listed vendors from China as major suppliers. The English Daily reported that Indosol (Shridi Sai), one of the winners in the first tranche of solar PLI, has listed 94 vendors of which 65 are Chinese whereas Reliance New Energy listed all its 20 foreign vendors from China. However, Adani Mundra, the solar manufacturing division of Adani Group has not submitted any names to the government yet. Tata Power Solar, winner of the second tranche of the PLI scheme has mentioned seven suppliers/supply chain partners of which four have Chinese origin, two are from Germany, and one from Singapore, respectively. Waaree Energies, one of India's oldest solar equipment manufacturers has 17 supply chain partners for its PLI project are all Chinese. Among other firms, VSL Solar, AMPIN Solar, and Grew Energy have more than 90% of their vendors from China. The firms have submitted the list to the Ministry of New and Renewable Energy to facilitate the grant of visas for foreign experts of agencies. Citing experts, the Business Standard report mentioned that Indian players depend on China for the factory equipment to set up the required assembly lines. Since India's solar module manufacturing capacity is at a nascent stage, the supply chain needed to set up is also China-dominated. The PLI scheme for solar is aimed at boosting the domestic supply chain of solar power equipment, and reducing the dependency on imports. Around 70% of India's solar power generation capacity is built on China-made solar equipment. The government in 2021 announced PLI schemes for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma, with an outlay of ₹1.97 lakh crore. The schemes aim to attract investments in key sectors and cutting-edge technology; ensure efficiency, bring economies of size and scale in the manufacturing sector and make Indian companies and manufacturers globally competitive.
Waaree Energies Frequently Asked Questions (FAQ)
When was Waaree Energies founded?
Waaree Energies was founded in 1989.
Where is Waaree Energies's headquarters?
Waaree Energies's headquarters is located at 602 Western Edge- I, Mumbai.
What is Waaree Energies's latest funding round?
Waaree Energies's latest funding round is Unattributed - II.
How much did Waaree Energies raise?
Waaree Energies raised a total of $258.62M.
Who are the investors of Waaree Energies?
Investors of Waaree Energies include ValueQuest Investment Advisors and Centrum Capital.
Who are Waaree Energies's competitors?
Competitors of Waaree Energies include Premier Energies.
Compare Waaree Energies to Competitors
Vikram Solar specializes in solar photovoltaic technology and operates within the renewable energy sector. The company manufactures solar PV modules and provides integrated solar energy solutions, including Engineering, Procurement, and Construction (EPC) services, as well as Operations and Maintenance (O&M) services. Vikram Solar caters to a variety of sectors, including government and private entities across utility, health, education, and industrial domains. It was founded in 2005 and is based in Kolkata, India.
Premier Energies is a Solar PV Cells & Module manufacturing company. The company offers solar cells and solar modules. It provides end-to-end solar power solutions to organizations across India. It was founded in 1995 and is based in Telangana, India.