Waaree Energizes Solar Growth with New 1.80 GW Module Facility in Gujarat and Strong Q1 FY26 Performance!

Waaree Energies, one of India’s leading solar module manufacturers, has inaugurated its new 1.80 GW solar module production facility in Degam village, Navsari District, Gujarat, signaling a major boost to domestic solar manufacturing capacity. The announcement was made via an exchange filing on July 31, 2025, and reinforces Waaree’s commitment to supporting India’s ambitious renewable energy goals through localized, high-efficiency production.

The launch comes on the heels of a strong Q1 FY26 financial performance, where the company reported a 20.3% increase in net profit, rising to ₹745 crore compared to ₹619 crore in the previous quarter. Operational efficiency and cost control measures significantly contributed to these gains, as reflected in the EBITDA jump of 73.4%, reaching ₹997 crore, with EBITDA margins improving from 14.3% to 22.5%.

The new facility in Gujarat is expected to play a key role in meeting both domestic and international demand for high-performance solar modules, particularly as India pushes for deeper solar penetration under its green energy roadmap. Strategically located in the heart of Gujarat’s industrial belt, the plant enhances Waaree’s logistical agility and production scalability.

In addition to its manufacturing expansion, Waaree recently completed the acquisition of Enel Green Power Development from EGPIPL, finalized on January 10, 2025. This strategic acquisition strengthens Waaree’s position in the renewable energy value chain, particularly in the transformer segment, which will now function as a standalone business unit within the company.

Waaree’s latest developments position it as a critical player in advancing India’s clean energy transition. With increased capacity, improved margins, and diversification through acquisitions, the company is well on track to lead the next wave of solar adoption—driven by innovation, scale, and financial strength.