Waaree signs multi-year 1GW cell supply agreement with CubicPV, targets Indian utility-scale market

April 28, 2022
Facebook
Twitter
LinkedIn
Reddit
Email
CubicPV has invested heavily in cell manufacturing in India, setting up a 2GW production facility in the country. Image: CubicPV

Indian module manufacturer Waaree Energies has struck a multi-year supply agreement with CubicPV, a merger between US-based wafer producer 1366 Technologies and Hunt Perovskite Technologies (HPT), under which Waaree will receive 1GW of silicon cells per year from CubicPV’s Indian factory.

The cells will feature wafers made with CubicPV’s Direct Wafer technology, which produces wafers straight from a molten bath of silicon, with Waaree targeting greater growth in the Indian utility-scale market although it has also seen its exports rise following strong international demand.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Waaree said it hopes the partnership will “strengthen India’s domestic solar manufacturing ecosystem”. CubicPV had applied to India’s recently expanded Production Linked Incentive (PLI) scheme that aims to incentivise PV manufacturing in the country but was ultimately unsuccessful.

Waaree said the agreement with CubicPV would establish a domestic supply line for Waaree and a provide a level of protection from logistical challenges and high commodity prices that has come to characterise the import market recently.

“We believe that CubicPV’s technologies will deliver significant benefit to our customers and to the Indian solar market both immediately and in the long-run,” said Hitesh Doshi, chairman and managing director of Waaree. “We are proud to bring a module to the market featuring domestically-produced wafers and cells manufactured with a low carbon footprint.”   

Having previously operated a pilot plant in Malaysia, CubicPV announced at the time of its merger in June last year that the company was planning to invest US$300 million to establish a 2GW wafer and cell manufacturing factory in India.

Meanwhile, CubicPV has received US$25 million in funding from Bill Gates’ Breakthrough Energy Ventures, First Solar, Hunt Energy Enterprises and others to help the company scale.

Read Next

Premium
October 21, 2025
PV Tech Premium spoke with academic and industry experts about the rising tide of cybersecurity concerns in Europe's solar energy sector.
October 21, 2025
Australia's solar-plus-storage sector gained momentum with 725MW of solar PV approvals advancing across New South Wales and Queensland.
October 21, 2025
Luminous Robotics has successfully completed its first international deployment of AI-powered solar installation robots at Engie’s 250MW Goorambat East Solar Farm in Victoria, Australia.
October 21, 2025
An independent panel has granted resource consents for the 179MW Glorit Solar Farm in Auckland, New Zealand.
October 20, 2025
Details of tariffs on US imports of polysilicon products may be announced as early as the end of this month, according to a note from investment bank Roth Capital.
October 17, 2025
Norwegian renewable energy firm Scatec has signed lease agreements for 64MW of solar PV and 10MWh of energy storage capacity in Liberia and Sierra Leone.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany