Domestic solar PV module maker Waaree Energies said on Thursday it had secured new orders worth $2.37 billion from customers in domestic and foreign markets. Waaree Energies said in a statement that the orders are for the supply of high-efficiency bifacial solar panels of 540Wp (watt-peak) and 600Wp.

The panels will be produced at Waaree’s manufacturing facility using M10 and M12 batteries. “These orders are in line with the Government of India’s vision for Atmanirbhar Bharat to bring in over $2 billion in foreign exchange while creating hundreds of jobs. These orders will enable us to provide over $2 billion in foreign exchange while creating hundreds of Employment opportunities. Hitesh Doshi, Chairman and Managing Director of Waaree Energies, strengthens our market position as we diversify and enter new markets.”

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Waaree currently has 4GW of PV module manufacturing capacity and plans to add another 5GW by December 2022. The 4GW solar cell manufacturing capacity is expected to be operational by March 2023. The 4GW solar cell manufacturing capacity is expected to be operational by March 2023. Waaree Group’s flagship company, Waaree Energies, is the country’s leading solar photovoltaic (PV) manufacturer and leader in the roofing sector, headquartered in Mumbai with four manufacturing facilities in Surat, Chikhli, Tumb and Nandigram.