Waaree Energies Limited Earns Accolade from Enerparc Energy Pvt. Ltd.

Mumbai, 2^nd August 2024 – Waaree Energies Limited, India’s largest manufacturer of solar PV modules with an aggregate installed capacity of 12 GW as of June 30, 2023 (Source: CRISIL Report), has been distinguished with the prestigious Long Association Award at Enerparc’s vendor association meeting in Bangalore, for being a part of the growth journey of Enerparc Energy Pvt. Ltd., a renowned German company specializing in large-scale solar power projects.

Amit Paithankar, Chief Executive Officer, Waaree Energies Limited, expressed his gratitude and commitment to continued excellence, saying, “We are deeply honoured to receive this recognition from Enerparc. We believe this award is a testament to our pursuit of quality, trust, and timely delivery. We are proud to showcase our capabilities and reaffirm our commitment to the solar industry. We remain committed to upholding these values and further strengthening our partnership with Enerparc.”

Kalyanram Udathu – CEO, Enerparc and Nataraj Suryanarayana, Executive Vice President, Supply Chain Management & Project, Enerparc Energy Pvt. Ltd., praised Waaree Energies for their excellence, stating, “Waaree Energies has been an exceptional partner in delivering superior quality and reliability. Their commitment to trust and timely delivery has been a cornerstone of our successful collaboration. We believe that this award is a testament to their exemplary performance and dedication to excellence in the solar industry and we are humbled to recognize the same with this award.”

This accolade reflects Waaree Energies Limited’s dedication to providing efficient solar solutions and to becoming a trusted and reliable partner in the renewable energy sector. We believe such global collaborations are essential for advancing the clean energy transition goals of the nation while also contributing to economic growth.

About Waaree Energies Limited

Waaree Energies Limited (“WEL”) was founded in 1990. It is India’s largest manufacturer of solar PV modules with the largest aggregate installed capacity of 12 GW, as of June 30, 2023 (Source: CRISIL Report). WEL commenced operations in 2007 focusing on solar PV module manufacturing with an aim to provide quality, cost-effective sustainable energy solutions across markets, and aid in reducing carbon foot-print paving the way for sustainable energy thereby improving quality of life. WEL has four solar module manufacturing facilities in India, with international presence.

For more information, please visit Waaree.com

Disclaimer:

Waaree Energies Limited (the “Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the websites of the Company at www.waaree.com, SEBI at www.sebi.gov.in, the book running lead managers Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited and ITI Capital Limited, at www.axiscapital.co.in, www.iiflcap.com, www.jefferies.com, www.nomuraholdings.com/company/group/asia/india/index.html, www.sbicaps.com, www.intensivefiscal.com and www.iticapital.inrespectively, of the National Stock Exchange of India Limited at www.nseindia.com and of the BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP which may be filed with the Registrar of Companies, Maharashtra at Mumbai, in future including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI in making any investment decision.

This press release does not constitute an invitation or offer of securities for sale in any jurisdiction. The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) within the United States to “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act), pursuant to Section 4(a)(2) of the U.S. Securities Act. There will be no offering of securities in the United States.