India's largest solar panel manufacturer, Waaree Energies said it was closing in on achieving cumulative solar module shipments of 2.5GW as its recent capacity expansions took nameplate production to 1.5GW.
Waaree noted that it had shipped PV modules to 6 continents, across 68 countries, while India remained its key market.
Waaree has observed the highest cumulative demand has come from Western India, due to the C&I sector, while Southern India was growing, due to large-scale PV power plant projects. However, the company noted that the India residential segment had experienced a 60% increase in demand, compared to 2018, on account of government policies.
Waaree also noted that the overall solar PV market has witnessed growth of 40% since 2018.
Sunil Rathi, Director Sales & Marketing, Waaree Energies Ltd said, “Waaree Energies has witnessed an increasing demand for clean energy in India and abroad. This is primarily due to the various awareness drives by the RE 100 mission. Moreover conventional sources of energy will now have to attain solar grid parity due to the cost effectiveness and this proposition has become a hit in the corporate segment.”
Waaree recently talked to PV Tech about its use of 'Merlin' module technology that is also fabricated for flexible solar substrates.