Answer
Waaree Energy
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Waaree Energies is undertaking backward integration into cell and wafer manufacturing. The company’s 5.4 GW cell line is projected to commence operations by the end of Q4 FY25, with an initial 1.4 GW capacity expected to be operational by the end of Q3 FY25.
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Additionally, Waaree is expanding into complementary sectors, including electrolyzers for green hydrogen and battery storage, to diversify its business beyond solar modules. Monitoring management’s execution in these new ventures will be essential.
Current Capacity & proposed expansion-
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The current operational capacity stands at 13.3 GW, distributed across five distinct plants and 20 production lines spread across 136 acres of land. The company has strategic plans to augment this capacity to 21 GW by incorporating additional capabilities through the establishment of two new plants located in Odisha, and Texas.
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The maximum capacity utilization can be 85%, as the production lines have to change specifications for different orders.
||Upcoming Cell Production Lines: |
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A 1.4 GW Mono PERC cell line is scheduled to begin production in November 2024, with an anticipated stabilization period of 20-25 days to achieve an efficiency of 23.5%. The company has deployed 40 Chinese engineers on-site to oversee the commissioning and stabilization process.
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According to management, one of the competitors took 6-9 months to stabilize their cell line, as the machinery was originally designed for Chinese conditions and required reconfiguration to suit Indian conditions. This reconfiguration process was further complicated by the challenges posed by the COVID-19 pandemic.
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4 GW TOPCon cell line is anticipated to begin production by the end of FY25. The capacity also features LECO technology which enhances cell efficiency by 0.3%.
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