Waaree Energies Raises About $121 Million Funding

Waaree is a supplier and manufacturer of high-quality solar PV modules and solar solutions. The company has successfully executed numerous large-scale solar projects across India, ranging from utility-scale solar power plants to rooftop solar installations. By offering end-to-end solutions, from conceptualization to installation and maintenance, Waaree Energies has enabled businesses, households, and government institutions to embrace solar power and reduce their reliance on conventional energy sources. Waaree Energies actively promotes responsible recycling and disposal of solar panels, ensuring that end-of-life products are properly managed, thus minimizing any adverse environmental impact.    

Waaree Energies has raised about $120.88 million in a second round of funding led by Mumbai-based investment firm ValueQuest, which is intended to be used by the solar panel manufacturer to expand capacity by 6 gigawatts (GW).  

Waaree Energies, Mumbai, Maharashtra, India, was founded in 1989 by Hitesh Doshi. “This funding, we believe will assist in our growth, expand our market presence, and drive positive change in the renewable energy transition,” said Hitesh Doshi, Chairman, MD at Waaree Energies.

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