Waaree Energies Powers ‘Make in India’ Vision, Tops Solar Module Market in Q1 2025: JMK Report

BILKULONLINE

Mumbai, May 28: Waaree Energies Limited, India’s leading clean energy transition company, has once again solidified its position as the nation’s foremost solar module supplier, capturing a remarkable 17.3% share of total module shipments in Q1 2025, according to the latest JMK Research report. This achievement underscores Waaree’s pivotal role in powering India’s renewable energy surge and advancing the country’s self-reliance in solar manufacturing. 

The first quarter of 2025 marked a period of record growth for India’s solar sector. The country added approximately 5.93 GW of utility-scale solar capacity- a 12.2% increase over the previous quarter- while rooftop solar installations reached 1.34 GW, propelled by robust policy support and the continued success of initiatives like the PM Surya Ghar: Muft Bijli Yojana. In total, India’s cumulative solar capacity stood at 105.6 GW as of March 2025, maintaining its status as the largest contributor to the nation’s renewable energy mix.

Waaree’s Market Leadership: Driving the Domestic Manufacturing Wave 

Waaree Energies emerged as the undisputed leader among 24 major module suppliers, shipping the highest volume of solar modules in Q1 2025. The company’s 17.3% market share not only outpaced all domestic and international competitors but also highlighted the ongoing shift towards indigenous manufacturing. In a quarter where domestic manufacturers accounted for a commanding 89.9% of total shipments, Waaree’s performance exemplified the rising preference for “Made in India” solar solutions. 

“Our leadership position in India’s solar module market is a testament to Waaree’s unwavering dedication to advancing world-class solar technology and accelerating the country’s clean energy transition,” said Dr. Amit Paithankar, Whole-time Director & CEO, Waaree Energies Limited.“This achievement highlights the nation’s growing confidence in domestic manufacturing and marks a significant step forward in our shared journey towards energy self-sufficiency. At Waaree, every module we deliver represents more than just cutting-edge engineering — it is a promise fulfilled to our customers, our communities, and the vision of a self-reliant, energy-secure India.” 

Export Growth and Global Reach

Waaree’s influence is not confined to the domestic market. In Q1 2025, the company’s export shipments more than doubled compared to the previous quarter, reinforcing its status as a global solar powerhouse. With state-of-the-art manufacturing facilities boasting an installed capacity of ~15 GW for solar PV modules and a robust export pipeline, Waaree continues to deliver innovative, reliable, and cost-effective solar solutions to over 25 countries worldwide. 

India’s solar sector is on a trajectory of rapid expansion, with JMK Research projecting the addition of over 30 GW of new solar capacity in FY2026. Waaree’s sustained leadership and manufacturing excellence are instrumental in supporting the nation’s ambitious target of 500 GW of renewable energy by 2030. The company’s commitment to innovation, supply chain resilience, and policy advocacy positions it at the forefront of India’s clean energy revolution.