1. business and industrial
2. manufacturing

Waaree Group – Major Business Interests
WAAREE Energies Ltd. is one of India’s most
diversified & integrated solar power solutions
company
with
India’s
largest
module
manufacturing capacity (250 MW)
A world leader in the manufacturing of Level
Gauges and Valves, Since 1905, WAAREE has
recently acquired 100% stake in CESARE
BONETTI headquartered in Milan, Italy, and
having manufacturing units across EU and India
Our Journey So Far
2013-2014
2011-2013
2007-2011
• Expands its IPP business to 150 MW
• Joint equity with a MiniRatna company for the
100MW project
• Expansion of Module Manufacturing capacity from
110 to 250 MW
• Acquires 100% stake in Cesare Bonetti to diversify its business in
the valve sector, in the year 2012
• Started EPC services and venture into other business segment
like solar pumps and other off-grid applications
• Expanded module manufacturing capacity from 30 to 110 MW
• Awarded 40 MW design contract by Adani Power
• Establishment of Waaree Energies Ltd.
• A 30MW module manufacturing line is set-up in 2007
• Divestiture from precision engineering manufacturing to a Swiss Group
1997-2007
• JV with Italian and Chinese partners.
• Setup of Global offices at Dubai, Qatar, Oman and in EU.
• Expansion into 65 countries for customer service.
1989-1997
• WAAREE Group was founded by Mr Hitesh
Doshi in 1989 with a focus on
Instrumentation.
Waaree Energies - Today
INDIAS LARGEST MODULE
MANUFACTURING CAPACITY OF 250 MW*
68 COUNTRIES,SERVICED THROUGH
ITS 20 SALES OFFICES ACROSS THE GLOBE
MORE THAN 90 MW EPC EXECUTED
92+ MW UNDER CONSTRUCTION
VENTURING INTO IPP
ASSETS OF 150 MW ** UNDER DEVELOPMENT
MORE THAN 2000 PROJECTS IN ROOFTOP,
PUMPS AND TELECOM ACROSS 100+ LOCATIONS
MORE THAN 600+
EMPLOYEE STRENGTH
* By Jan 2015 to be expanded to 500MW
** 50MW under JNNSM Phase-2 Batch 1, 56MW in Japan, 50 MW in AP State of India
Our Vision
Our vision is to provide high quality and cost-effective solar power across
emerging markets, reducing carbon footprint - paving the way for a more
sustainable energy future, thereby improving quality of human life
“I'd put my money on the sun and solar energy”
“I hope we don't have to wait 'till oil and coal run
out before we tackle that”
Thomas Edison (1847 – 1931)
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Commitment to our stakeholders
Integrity is demonstrated through intent.
Our intention is always to be fair and
honest to others and ourselves. We must
deliver on what we say, regardless of the
circumstances in all that we do
Our thirst for change and continuous
improvement must ensure that everybody
is encouraged to generate new and
creative ideas.
We must enthusiastically strive to achieve
the highest standards in the industry that
we are in, through every small thing we do
in our daily life be it quality of our products
or services, documentation or
communication
We must build trust by respecting the ideas
and contributions of everyone. We must
embrace diverse global cultures and create
a supportive environment, working as a
cohesive team and treating others the way
we would like to be treated
Our internal and external customers are
the most important elements in our
business. Our quality and speed of service
to them will be a demonstration of how
important they are. The customer must
always be at the centre of all that we do
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MODULE MANUFACTURING CAPABILITY
• Manufacturing capacity of 250MW – Largest in India
• High Efficiency Crytalline Cells by globally known and certified suppliers such as
Gintech - Hareon and Indosolar.
• Modules in the Power class of 3Wp to 400Wp with 250 Wp family for 60 cells
Modules and 300 Wp family for 72 cells.
• Manufacturing process follows the best International Industry Standards and
Practices.
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POLY AND MONO CRYSTALLINE PV MODULES
Features

High conversion efficiency based on leading innovative photovoltaic technologies.

High reliability with guaranteed 0~+4.99 Wp power output tolerance, ensuring best ROI.

Withstands high wind-pressure and snow load (passed 5400Pa mechanical loading test), and extreme
temperature variations.

Optimal output over decades, with very good low light response.

Each PV module is provided with RF identification tag which are to be used in solar power plant
project.
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FACTORY AT A GLANCE
CERTIFICATIONS OF MODULES
IEC 61215
IEC 61730-1
IEC 61730-2
IEC 61701
EPC SERVICES
Pre- Project
Engineering &
Land Acquisition
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Project Systems
Electrical
Structural & Civil
Monitoring
Evacuation
PV Modules
Inverters
Structures
Cables
Transformers
Land Development
Structure
Control Room
Roads
Drainage
Evacuation of Power
Detailed
Engineering
Project
Management
Installation &
Commissioning
Operation &
Maintenance
Engineering
Procurement
Commissioning
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INTERNATIONAL INSTALLATIONS
Sr. No
Capacity
Company
Project Location
Year
1
14 MWp
KREN Invest B.V
Netherlands
2013
2
5 MWp
Sacchi Giuseppe SPA
Italy
2011
3
2 MWp
Fliegl Energie
Germany
2010
4
2.5 MWp
Enel Green Power
Germany
2013
5
2.5 MWp
Rupa Technologies
Germany
2013
6
1.3 MWp
Feliciony Energy
Italy
2010
7
740 KWp
Sidernet SPA
Italy
2010
8
500 KWp
ECOJOULE S.R.L.
Italy
2010
9
507 KWp
Ferla Energy Srl
Italy
2010
10
500 KWp
V.T Telematica S.P.A.
Italy
2010
11
200 KWp
Triptis
Germany
2010
12
156.4 KWp
San Martino
Italy
2011
13
101.2 KWp
Mazza Quinto
Italy
2010
14
550 KWp
Gookir Global
Turkey
2010
15
138.6 KWp
Divko, S.R.O
Spain
2010
16
180 KWp
Nessel Groove
United Kingdom
2011
17
165 KWp
Energy Investment
Malta
2010
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DOMESTIC INSTALLATIONS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Capacity
MWp
25
10
5
5
5
5
5
5
3
2
1.5
1.5
1
1
*
40
Adani Power (Only Engineering) Gujarat
Commissioned
*
2
Various Rooftop Projects
Commissioned
Sr. No



Project
Location
Roha Dychem (Project Development) Rajasthan Solar Park
Mono Steel India
Una, Gujarat
Green Tech
Kolayat, Rajasthan
Friends Group
Susner, Madhya Pradesh
Sai Baba Green Power
Latur, Maharashtra
Avatar Solar
Patan, Gujarat
Taxus Infrastructure
Kutch, Gujarat
Bhadresh Trading
Susner, Madhya Pradesh
Abellon Clean Energy
Modasa, Gujarat
Claris Life Sciences
Modasa, Gujarat
Haldirams
Nagpur, Maharashtra
Neon Laboratories
Murtizapur, Maharshtra
Rays Power
Pokran, Rajasthan
Neel Properties
Madhya Pradesh
Ongoing
Commissioned
Commissioned
Commissioned
Commissioned
Commissioned
Commissioned
Commissioned
Commissioned
Commissioned
Commissioned
Ongoing
Commissioned
Commissioned
Company Name
Across 14 States
Project Status
Installation experience over 14 projects across 14 States
Average yield to date exceeded benchmark
90% of Projects have been completed on time – fastest being 2 MW of Modasa in 35 days
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EPC INSTALLATIONS – SELECT SITES
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OTHER BUSINESS INTERESTS – SOLAR WATER PUMPS
Solar Water Pump Gaining Importance - 400 Cr announced in Budget solar pumps (2014-15)
Bore well Submersible Pump (Helical)
Discharge – 2700 to 4000 LPD
Bore well Submersible Pump (Centrifugal)
Discharge – 2500 to 75000 LPD
Open well Submersible Pumps
Discharge – 35000 to 60000 LPD
Surface Pump (Monoblock)
Discharge – 500 to 120000 LPD
Client
RHDS
Place
Rajasthan, India
Nos.
1354 Solar Water Pumps
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OTHER BUSINESS INTERESTS - POWER PACK SYSTEMS, STREET LIGHTS AND LANTERNS
1Kw, 2Kw, 3Kw Solar Power Pack System with 4 Hours
Battery Backup.
Apollo Series Solar Street Lights LED & CFL Technologies
from 9Wp to 80Wp
Solar Lanterns – CFL Models
5W to 7W LED Models – 2.5 to 3.6 Wp
Home Lighting Systems
CFL & LED Models – 18Wp to 74 Wp
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Waaree Energies Ltd – Key Strengths
•
Module
Manufacturing
EPC
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Connect/Network
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Finance
Partnerships
250+ MW manufacturing – Largest in India
• ISO 9001:2008 & ISO 14001 certified
• Certified with TUV, IEC, CEC, STQC ,MNRE, UL1703, CE (25+ Certifications )
• Certified by FICHTNER Italia s.r.l for Bankability in most of the EU Banks
Experience of 90+ MW ( more than 14 projects)
92+ MW projects under execution
In-house capability across value chain – design, engineering, land acquisition, bidding,
PPA negotiation, execution, O&M
Experience across various states and over large/small projects
Qualified team of 65+ ; 50+ engineers
Large sales network in India – 5 dedicated sales offices with 60+ staff
50+ business development associates, 70+ dealers and channel partners
Long term relationship with policy makers at central and state levels
Membership of various industry association – founder member of solar panel
manufacturers
Regular effort to create awareness among policy makers
Concluded financial closure through more than 10 banks for our clients
Relationship with some major infrastructure financing institutions like PFS, SBI, SIDBI and
IREDA
•
Equity: First of its kind Public Private Partnership in .India in solar sector with Public
Company – North East Electric Power Corporation , a MiniRatna company of GoI.
•
Technical: Solida (spain) and VT Telematica (Italy) JV’sfor design and execution
•
R&D: tieup with IIT Bombay and University of South Australia
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Waaree has been very adaptable to market dynamics
Solar Market in India has been evolving – Waaree has kept itself always agile to adapt to market needs
EXPECTATIONS FROM INDIAN SOLAR MARKET
2007-2010
2011-2012
• Ventured into turnkey EPC
projects
• Expanded module
manufacturing line from 30
to 110MW
Waaree started
module
manufacturing and
exported to
European markets
JNNSM policies
announced and Gujrat
and Rajasthan policy
boosted the market
with high FIT rates
Virtually nonexistent market
in India
Market Conditions
Waaree’s response
2013-2014(Q1)
2014(Q2)-2019
Waaree’s strategy to move into
multiple solar verticals helped
to maintain overall profitability
when most of the solar
companies made losses
• Ventures into IPP business
and wins 50MW under
JNNSM project
• Focus business on – IPP, EPC
and module manufacturing
• RPO market didn’t pick
• Delay in rollout/uncertainty of
policies/ADD uncertainty
• Delay in project awards
due to elections
• New Govt aggressive on
solar
• Reduced policy uncertainty
with stable govt
• Strong growth expected
• 2.5GW+ announcements
made so far
LEADERSHIP TEAM
Name and Role
Experience
•
Mr. Hitesh C. Doshi
Chairman and
Managing Director
First generation entrepreneur with over 23 years of valuable
experience in the engineering industry
 His vision and strategic business leadership are instrumental in
establishing Waaree Energies in a leadership position in the Solar
industry
 He looks after the overall business strategy of the Company and
looking after International Business Development and Expansion
projects of the Company
Mr. Viren C. Doshi
Director –
Marketing
 More than 19 years of marketing experience in the engineering
industry
 Built a strong distribution network for various Group companies
 He is looking after the Project acquisition, development and
Execution activities of Solar Power projects
Mr. Hitesh P. Mehta
Director – Finance
 Qualified Chartered Accountant, having over 20 years of experience
in the field of finance
 He currently controls all the financial operations and tax planning
activities of the Group
 He has very meticulously managing all the fund requirements,
Mergers and Acquisitions, Expansion plans of the Group
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LEADERSHIP TEAM
Name and Role
Experience
•
Mr.Mayank Shah
Executive Director Finance
Mr.Riaz Naqvi
Director
Mr Samir Shah
Director
•
Mr.Mayank Shah is a qualified Chartered Accountant, with 25 years of
experience in Finance & Accounts. He served as CEO in his previous
assignment with Anagram Stock Broking Limited, one of the Leading India's
brokerages in Equity & Commodities market segment.
He is primarily responsible for managing the financial risks of WAAREE
Energies Ltd. He is abig-picture thinker, makes collaborative financial
decisions to set the finance agenda for the organisation, further supports
and provides timely advice to the board of directors.
 Riaz Naqvi has had a distinguished career as a policy-maker in the Indian
Government for over 25 years as Chief of Staff of Indian ministers for Science
& Technology, Information & Broadcasting, Information Technology,
Commerce & Trade, and Renewable Energy.
 He served on the Board of STPI (Software Technology Parks of India), since its
inception for 9 years. His contribution was lauded by the Prime Minister of
India at the National IT Award function in Delhi. Mr. Naqvi has a deep
understanding of policies and regulatory issues and the working of
Government machinery.
 Mr Samir Shah is qualified as a Chartered Accountant and lawyer (India) and as
a MBA (Wharton). He has had a career in financial markets in New York and
Hong Kong for the last 26 years with Deutsche Bank, Salomon Brothers and
Goldman Sachs prior to forming his investment firm.
 He has been an investor in global financial markets and experienced in
managing risk at these institutions. In the past few years, investments have
included water management and renewable energy companies.
 Since last year, he spends most of his time in India. At Waaree, he is involved
in financial and strategy decisions
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AWARDS AND RECOGNITION
Winner of ET Leaders of Tomorrow 2012
Mr. Kirit Doshi receiving an award from Ex-President Smt. Pratibha Patil
Mr. Kirit Doshi receiving an award from Shri. Kamal Nath
Mr. Viren Doshi receiving an award from Shri Anand Sharma
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CLIENT TESTIMONIALS
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CLIENT SPEAK
“Team Waaree, is a company synonymous with solar EPC. To manage each and every thing for 2
MW solar power plant within 35 days is not a joke as it requires meticulous planning,
understanding of subject and requirements at site, we appreciate efforts of all involved from
Waaree Group” - Mr. Sanjay Shah, VP-Technical
“For the installation of 1300 K W roof top with WAAREE 230 Wp modules, your company has
provided with excellent services as regards to the complete installation & technical support.” Francesco Felicione, CEO
“We have regular business with WAAREE ENERGIES LTD for solar panels since July 2009, during
which company has provided us Excellent quality, On time Delivery and technical support.
There are many manufacturers of solar panels all over lndia, in Gujarat and in other states but
we have approved only WAAREE for solar panels taking in to consideration of all above factors.”
– Vishnu Patel, Partner
“We have procured & used Waaree Solar Photo Voltaic modules Ws 230 for our 500 Kw
installation at BOGOGNO, the company has provided the same with excellent quality , in time
delivery & technical support. These modules are performing satisfactorily since the date of
commissioning” – Ecojoule SRI, CEO
“Waaree WS 230 PV Modules met our expectations in terms of quality, performance &
delivery. They provided my business with excellent quality, on time delivery & support” - Mr.
Dusan Divko, CEO
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THANK YOU
WAAREE ENERGIES LTD.
Head Office :
602, Western Edge-I, Western Express Highway, Borivali (E)
Mumbai – 400 066, India
Board Line: +91- 22 - 66 44 44 44
Fax Line : +91- 22 - 66 44 44 00
Visit us at: www.waaree.com
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