Indian solar module manufacturer Waaree Energies has signed an agreement to supply 445MW of modules to Statkraft India for a project in Bikaner, Rajasthan.
The deal involves Waaree’s 540W dual glass bifacial models, and the company expects them to arrive between May and August this year. The deal will support Statkraft India’s growing presence in the country, which has historically been dominated by hydropower; the company currently has three hydropower plants in its pipeline, two in operation and one under construction, and just one solar project, the 55MW Nellai solar park, in its portfolio.
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“This partnership with Statkraft India represents a pivotal step in our collective mission to contribute in India’s renewable energy transformation,” said Waaree chairman and managing director Hitesh Doshi.
The news follows the deployment of Waaree’s tunnel oxide passivated contact (TOPCon) modules at Acciona Energía’s Red-Tailed Hawk PV project in Texas, which reached commercial operation earlier this week. Waaree has made a number of investments into its module manufacturing capacity in recent months, including announcing plans to build a new manufacturing plant in Texas with an annual module production capacity of 3GW, and deals such as that with Statkraft India will help the company sell its growing module portfolio.
Indian module manufacturing has expanded considerably in the last year, too, with Waaree becoming one of the top ten overseas module suppliers to the US in 2023. According to Mercom India’s ‘State of Solar PV Manufacturing in India 2024’, Indian companies added 20.8GW of new PV module manufacturing capacity in 2023, pushing India’s cumulative module manufacturing capacity to 64.5GW by the end of 2023.
Much of this new capacity has translated to sales to some of the world’s largest PV markets, outside of China. Earlier this year, Solar Media head of research Finlay Colville wrote for PV Tech that there had been a “massive uptick” in Indian-made modules reaching the US, as companies in the US look to diversify their supply chains from China, in particular, and Southeast Asia more broadly.
