Mumbai, 12 December, 2024 – Waaree Energies Limited, India’s largest manufacturer of solar PV modules, announces a strategic CSR initiative in partnership with IIT Bombay towards advanced research and development pursuits related to solar perovskite cells.

The partnership will involve Waaree Energies and IIT Bombay jointly working on creation of an advanced Fabrication and Characterization setup for high-efficiency perovskite solar cells. Through the initiative, Waaree Energies aims to inspire those young engineers and scientists who are inclined towards clean energy in general and solar power in particular. Furthermore, the initiative is conceptualised in a way that it serves as a role model towards innovation and sustainability in India’s next generation. Perovskite solar cells represent a breakthrough in solar technology, renowned for their remarkable light absorption and efficiency potential. With a mission to redefine the possibilities of solar power, the setup at IIT Bombay will provide a sophisticated platform for students and researchers to pioneer clean energy solutions, driving India’s position forward as a global leader in renewable technology.

“This partnership with IIT Bombay represents our enduring commitment to innovation and empowering the youth with world-class research facilities,” said Dr. Amit Paithankar, CEO of Waaree Energies Ltd. “At Waaree, we believe that education and innovation are cornerstones of a sustainable future. By supporting R&D in high-efficiency perovskite solar cells, we’re enabling students to explore the forefront of solar technology—a field poised to become one of the largest employment generators in the coming years. For India to achieve true energy independence, it’s crucial that we foster a robust ecosystem where young minds have access to the resources and mentorship needed to lead the world’s clean energy transition.”

Prof. Ravindra Gudi, Dean Alumni & Corporate Relations, IIT Bombay said: “This strategic CSR partnership with Waaree Energies is a testament to our shared vision of a sustainable and energy-secure future for India. At IIT Bombay, we are committed to advancing solar power R&D by fostering innovation and creating opportunities for the next generation of researchers and engineers. Waaree’s generous investment will empower our students and faculty to push the boundaries of high-efficiency solar technologies, including pioneering work in perovskite solar cells. Together, we are building a foundation for a clean energy transition that will not only contribute to India’s energy independence but also generate transformative solutions and employment in this critical sector.”

Waaree Energies’ initiative emphasizes its commitment to starting the clean energy movement at the very inception: empowering students with industry-grade facilities that prepare them for a future dominated by renewable energy. By equipping IIT Bombay with this advanced setup, Waaree aims to bridge the academic-industry gap, cultivating a talent pool ready to drive India’s renewable energy ambitions forward. This CSR initiative goes beyond funding- it reflects Waaree’s core values of education, innovation, and sustainability, which are deeply embedded in the company’s DNA.