Waaree eyes 1 GW of PV module production capacity
Waaree Energies Ltd has doubled its annual photovoltaic (PV) module manufacturing capacity to 500 MW and is working on further expanding its factory in Gujarat to 1 GW. The Mumbai-based firm has said that it has completed the installation of a 250-MW production line at its Surat facility, which is now the largest single location PV module production plant in the country.
Waaree´s objective to double the manufacturing capacity again is expected to be achieved in the next four months, chairman and managing director Hitesh Doshi said in a statement. This expansion push arose from the´huge´ demand for the firm´s PV equipment from Europe, the UK, Japan and certain African countries, he pointed out. The plan also supports Prime Minister Narendra Modi´s ´Make in India´ vision.