Waaree, the largest PV module manufacturer in India, officially signed a 10GW high-efficiency module automation production line project with Jinchen, during the SNEC PV Power Expo 2023 recently held in Shanghai. Waaree CMD Hitesh C Doshi and Mr. Li Yisheng, Chairman of Jinchen, attended the signing ceremony.
Since the cooperation between Waaree and Jinchen began in 2017, the total number of projects signed and delivered has reached 10GW. This latest 10GW agreement, Jinchen`s biggest overseas deal ever, symbolizes a new level of strategic cooperation between the two companies.
With a 12 GW manufacturing capacity in India, Waaree has the largest solar module manufacturing capacity in India. The company currently exports its products to over 20 countries worldwide. Waaree has earned global recognition as one of the best innovative technology providers in the segment, having been recently featured as a Top Performer in PVEL’s prestigious annual PV Module Reliability Scorecard. The collaboration with Jinchen brings Waaree one step closer to building a 20 GW manufacturing capacity.
As one of the first PV module equipment suppliers to enter the Indian market nearly 20 years ago, Jinchen has achieved leapfrog development and become a well-established player in India in recent years. In 2022, Jinchen not only made new breakthroughs in the Indian market, but also established the Indian Technical Service Center - which aims to continuously strengthen localization services and provide comprehensive and high-quality one-stop services to swiftly respond to the needs of Indian customers.
According to a forecast by India’s Central Electricity Authority (CEA), the country will install 292.6GW of PV systems by fiscal year 2029-2030. With the support and incentives provided by the government's new energy policy, the Indian PV industry has a bright future, with competition within the market increasing by the day. This collaboration between Waaree and Jinchen will further consolidate the market leadership of Jinchen in India, and bolster the rapid development of India's domestic PV industry and local manufacturing capacity with Jinchen’s intelligent manufacturing solutions.
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