Presentation By Rahul Galgate at Solar Roofs Nagpur 2017

1. Presented by Rahul Galgate

2. WAAREE ENERGIES LIMITED
BRIEF INTRODUCTION & CREDENTIALS

3. WAAREE ENERGIES – SNAPSHOT IN
NUMBERS
Revenue
INR 1080 Cr in FY 16-17
Q1 FY 17-18: INR 485 Cr
Employees 1000 +
Number of Years in Solar 10+ years
Modules Delivered (including OEM) 1 GW+
EPC Projects Delivered 500+ MW
IPP Projects 100 MW [25 MW under execution]
Structure & MMS 375 MW [Started in 2015]
Global Module Ranking TIER 1 [Ranked by BNEF]

4. ABOUT WAAREE ENERGIES

5. Waaree Group - Growth Trajectory
1989-1997 1997-2007 2007-2011
2011-2013 2013-2014 2014-2017
• WAAREE Group was founded by Mr
Hitesh Doshi in 1989 with a focus on
Instrumentation business
• JV with Italian & Chinese partners &
setup of Global offices at Dubai, Qatar,
Oman and in EU.
• Expansion into 65 countries for
customer service.
• Establishment of Waaree Energies Ltd.
• A 30MW module manufacturing line is
set-up in 2007
• 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
• Expands its IPP business to 150 MW
• Joint equity with a MiniRatna company
for 100MW project
• Module Manufacturing capacity up
from 110 to 250 MW
• Expanded capacity from 250 MW to 550
MW
• In process to Expand Capacity to 1200
MW

6. GUIDING PRINCIPLES
Vision is to provide high quality and cost-effective
solutions across areas of operations in emerging as well as
developed markets while leveraging on the goodwill and
experience of the group and Management expertise
By virtue of our commitment to our stakeholders, we
strive for continuous improvement in the quality of our
products & services
The core values of our organization are those values that
underlie our work & strategies we employ to fulfil our
vision & mission

7. UNDERLYING VALUES

8. Capabilities & Services
SOLAR
MODULES
EPC SERVICES INDEPENDENT
POWER PRODUCER
ROOF TOP
SOLUTIONS
SOLAR PARK
DEVELOPER
FRANCHISEE
NETWORK
SOLAR WATER
PUMP
SOLAR
PRODUCTS
One-Stop
Solar
Solution
Provider
Enabling
Solar –
Since 2007
5000+
customers
across the
globe
INR 1000+ Cr
Turnover for
the past 2
years
Global presence
and outlook
End-to-
End
Capabiliti
es
Pre
feasibility
Studies
Land and
Site
Identificati
on
Design &
mfg. of
Modules
Site
Infrastruct
ure
Developme
nt
Installation
&
Commissio
ning
Power
Evacuation
SOLAR
INVERTERS
SOLAR THERMAL

9. India’s No. 1 Solar Company
*Bridge to India Report - 2015
*Bridge to India Report - 2016
*Bridge to India Report - 2017

10. Waaree’s Satisfied Customer Base:
A to Z of Solar World
More than 1000 satisfied customers…

11. Accolades & Recognition
…More than 100 Awards
2017: CBIP Award for Best Solar PV
Module Manufacturer & Solar Power
Developer
2015: Make In India Award for
Excellence
2016: National Excellence Award for
Solar PV Module Manufacturing
2014: 4th Annual Global Solar EPC Award
for “Innovative technology application in
the field of Solar Thermal”
2013: Awarded prestigious India SME Excellence
Award for "Excellence in Technology &
Innovation"
2012: ETNOW – IndiaMART Leader of Tomorrow
Award, India's biggest SME Awards
2017: India Solar Week Excellence Awards
Winner of 3 Awards, Leadership in PV Modules, Leadership in Solar EPC &
Outstanding Contribution to Brand India
Awarded by EEPC as “Best Performer” for four years in a row. Awarded by President of India for “Best Company in Medium & Small Sector”

12. MANUFACTURING
CAPABILITIES
SOLAR
MODULES

13. State of Art
Module Manufacturing Plant
State of the Art,
Module
Manufacturing Facility,
with the capacity of
550 MW, -
Under up-gradation to
1200 MW
SOLAR
MODULES

14. Certifications Of Modules
ISO 9001:2008 l ISO 14001:2004 l OHSAS 18001:2007
IEC 61215 l IEC 61730-1&2 l IEC 60068-2-68 l IEC 61701 l IEC 62716
ROHS Compliance | REACH Compliance
Successful Audits
Fitchner
Srl, Italy
Black and
Veatch, USA
EDF,
France
MCS
Sun
Edison
Enel,
Italy
SOLAR
MODULES

15. Picking up best from the world to deliver optimum performance and efficiency
Cell
High Efficiency Cells by globally
known and certified suppliers
such as Gintech - Hareon and
Indosolar.
Variant
Modules in the Power class of
3Wp to 400Wp with 260Wp
family for 60 cells Modules and
315Wp family for 72 cells.
Type
Manufacturing Poly Crystalline as well
as Mono-crystalline modules.
Process
Manufacturing process follows the best
International Industry Standards and
Practices.
Efficiency
Current module efficiency in excess of
16%.
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.
Each PV
module is
provided with
RF
identification
tag which are
to be used in
solar power
plant projects.
Poly And Mono Crystalline
PV Modules: Features
SOLAR
MODULES

16. Picking up best from the world to deliver optimum performance and efficiency
Process Flow of PV moduleSOLAR
MODULES
Incoming Inspection Tabbing & stringing Layup Inspection Pre-EL Testing
laminationTrimmingFraming
JB FixingPost-EL testing
Flasher Testing Safety Testing FQC
Cleaning & Packing

17. Ensuring Quality and Reliability. Waaree has passed factory audits from various International
buyers
Stringent Quality controlSOLAR
MODULES
In-House Testing
▪ Insulation Resistance Test
▪ Di Electric Withstand Test
▪ Mechanical Load Test
▪ Performance At Low Irradiance
▪ Thermal Bypass Diode Test
▪ PID Testing
▪ Robustness Of Termination
▪ Humidity Freeze Test
▪ Thermal Cycling Test
▪ Damp Heat Test
▪ Sun Soaking /Pre Conditioning
▪ Outdoor Exposure Test
▪ Wet Leakage Current Test

18. Sr. No Capacity Company Project Location Year
1 200 + MW Azure India 2014-17
2 100+ MW Sterling & Wilson India 2015-17
3 50+ MW Ujaas India 2010-17
4 30 MW Suzlon India 2015-16
5 10 MW Atersa UK 2016
6 2 MW Sigma Energy Italy 2015
7 1.3MW LUXOR GmbH Germany 2015
8 5MWp ESPE SRL Italy 2014
9 14 MW KREN Invest B.V Netherlands 2013
10 2.5 MW Enel Green Power Italy 2013
11 15 MW Monosteel India 2012
12 5 MW Greentech India 2012
13 3 MW Abellon India 2012
14 5 MW Wipro, Dadri India 2012
15 5 MW Sacchi Giuseppe SPA Italy 2011
16 2 MW Fliegl Energie Germany 2010
17 1.3 MW Feliciony Energy Italy 2010
18 500 KW ECOJOULE S.R.L. Italy 2010
19 507 KW Ferla Energy Srl Italy 2010
20 500 KW V.T Telematica S.P.A. Italy 2010
Manufacturing Track-Record
[Major Module Installations]
SOLAR
MODULES

19. NEW TECHOLOGY: MERLIN MODULES
PERFECT FOR RUGGED, HIGH VIBRATION LOCATIONS
SOLAR
MODULES

20. Merlin Products: Variants
• Portable Power– Compact tri-fold design
• Durable & Weather proof
• Easily fits into backpack, briefcase or purse
• Integrated cable/connector stowage
• Low maintenance – non-stick surface, easy
clean
Portable Power SolutionsRugged Modules
BR/ GX Series
• Glass Modules
w/o frame
• Standard Form
Factors
• Back-Rail for
fast deployment
FX Series
• Flexible light-
weight modules
with ETF coating
• Non-Standard
Form Factors for
varied
applications

21. • Conventional c-Si solar construct is limited
in form factor to 3.2mm tempered glass
with Al-frame
– Cell micro-cracking in extreme conditions
– Cell to Cell interconnect fatigue (flex)
• Merlin, by design, eliminates these
concerns & enables rugged form factor
panels optimized for key applications
SPECIALIZED APPLICATION: RUGGED &
LIGHTWEIGHT MODULE FORM FACTORS
• Maintains
module integrity
• Resistant to
arcing at fatigued
locations

22. EPC CAPABILITIES
EPC SERVICES

23. Experience of providing End to End solutions in project development, implementation and O&M
Infrastructure
Planning And
Development
Business
Development
Project Execution
Project
Maintenance
Manufacturing
Full Service Offering with Proven
Experience
Engineering
➢ Project Systems
➢ Electrical
➢ Structural & Civil
➢ Monitoring
➢ Evacuation
Procurement
➢ PV Modules
➢ Inverters
➢ Structures
➢ Cables
➢ Transformers
➢ Land Development
➢ Structure
➢ Control Room
➢ Roads & Drainage
➢ Evacuation of Power
Construction
More than
500 MW ‘s of
EPC projects
delivered
- 100 MW under
execution
EPC SERVICES

24. More than 500 MW ‘s of EPC projects delivered …
Waaree Capabilities –
Ground Mounted
Waaneep Solar
50 MW
Roha DyeChem
27.5 MW
MonoSteel
10 MW
Sharda
Constructions
10 MW
EPC SERVICES

25. More than 500 MW Ground
Mounted Solar Projects…
No. Capacity (MW) Company Name Project Location Project Status
1 44 Hero Future Energies Telangana Under Execution
2 22 Roha Dyechem Maharashtra Under Execution
3 23 Maharashtra Seamless Rajasthan Commissioned
4 75 Leading Utility Company Surat, Gujarat Commissioned
5 50 Waaneep Solar Madhya Pradesh Commissioned
6 25 Waaneep Solar Andhra Pradesh Commissioned
7 40 Adani Power (Design) Gujarat Commissioned
8 27.5 Roha Dyechem Rajasthan Solar Park Commissioned
9 10 Sharda Constructions Latur, Maharashtra Commissioned
10 10 Mono Steel India Una, Gujarat Commissioned
11 5 Green Tech Kolayat, Rajasthan Commissioned
12 5 Friends Group Susner, Madhya Pradesh Commissioned
13 5 Sai Baba Green Power Latur, Maharashtra Commissioned
14 5 Avatar Solar Patan, Gujarat Commissioned
15 5 Taxus Infrastructure Kutch, Gujarat Commissioned
16 5 Bhadresh Trading Susner, Madhya Pradesh Commissioned
17 3 Abellon Clean Energy Modasa, Gujarat Commissioned
18
2
Claris Life Sciences Modasa, Gujarat Commissioned
19 2 Haldirams Nagpur, Maharashtra Commissioned
20 1.5 Neon Laboratories Murtizapur, Maharshtra Commissioned
EPC SERVICES

26. SOLAR PARK SOLUTIONS
SOLAR PARK
DEVELOPER

27. FULL SERVICE PLUG-N-PLAY
MODEL OF DEVELOPMENT
CLUSTER # LOCATION DETAILS BALANCE CAPACITY AS
ON 30-SEP-2017
EVACUATION ARRANGEMENT
1 District Akola,
Maharashtra
7 MW AC Double Circuit 33 kV Transmission Line
to MSETCL 132/33 kV Grid Sub-Station
2 District Solapur,
Maharashtra
30 MW AC Double Circuit 33 kV Transmission Line
to MSETCL 132/33 kV Grid Sub-Station
SHOVEL READY SOLAR PARKS IN MAHARASHTRA
SOLAR PARK
DEVELOPER
Solar Park Solution for Captive Solar Projects
Single Location
Aggregated & Developed
Land on free-Hold Basis
Ready & Robust
Evacuation Infrastructure
(Transmission Line and
GSS Bay) on Shared Basis
Plug-n-Play Solution with
proven expertise of
Waaree’s EPC, Approvals
and Asset Management
team

28. LAND CLUSTER 1
DISTRICT AKOLA, MAHARASHTRA
SOLAR PARK
DEVELOPER

29. EXECUTIVE SUMMARY
Location District Akola, Maharashtra
Connectivity MSETCL 132/33 kV Substation
Park Capacity 30 MW AC
GHI (Indicative) 1882 KWh/m2
Present status
Land Acquisition completed
All permissions obtained
Power Evacuation Infrastructure 100% complete
Transmission Line connected, charged and in use
33 KV Metering Bay allotted at MSETCL Grid sub-station
SOLAR PARK
DEVELOPER

30. SNAPSHOTS OF LAND
& INFRA
High Insolation Shovel Ready Land 33 kV Double Circuit Line Commissioned & Charged
33 kV Pooling Switchyard
SOLAR PARK
DEVELOPER

31. LAND CLUSTER 2
DISTRICT SOLAPUR, MAHARASHTRA
SOLAR PARK
DEVELOPER

32. EXECUTIVE SUMMARY
Location District Solapur, Maharashtra
Connectivity MSETCL 132/33 kV Substation
Park Solarfield
Capacity
30 MW AC
GHI (Indicative) 1954 KWh/m2
Present status
Land Acquisition completed
All permissions obtained
Power Evacuation Infrastructure 100% complete
Transmission Line connected and charged
33 KV Metering Bay constructed & commissioned at MSETCL Grid sub-station
SOLAR PARK
DEVELOPER

33. SNAPSHOTS OF LAND
& INFRA
33 kV Double Circuit Transmission LineHigh Insolation Shovel Ready Land
SOLAR PARK
DEVELOPER

34. NEW TECHNOLOGY: FLOATOVOLTAICS
FLOATING SOLAR SOLUTIONS
EPC SERVICES

35. Floating solar solution Value
Proposition
• UV resistant floats for long-life
• Floats have redundant leak-tolerant features
• Smart tethering & anchoring solution
DURABLE and RELIABLE:
• Stable against high winds, waves
• Tolerates variation in water draft
• Freshwater or seawater compatible
• Corrosion resistant metal structures
• PV module engineered for marine use (10 years)
NO ENVIRONMENT IMPACT:
• Certified for use with drinking-water
• Freshwater or seawater compatible
• Lead-free solar module available
• Minimum contact with water surface
• Abundant light and air passage for life
underwater
• Resistant to biofouling (algae)
EXTRA GENERATION:
• Module inclination adjustable for each location
• Module operates 10-15 °C cooler for extra
generation.
• Designed for quick installation and easy O&M
• Can be modified for tracking
DIFFERENTIATION
• Made in India*
• Patents:
• PCT/US2015/063136
• PCT/US2016/43007
• Patents are protected in India
• Complies with environmental, structural standards
• High quality components for long-life
• Heavy, high buoyancy floats with redundant
features
• Flexible monolithic platform tolerates wind, waves

36. Basic Design Aspect
IP67 rated Solar modules
designed for marine
environment
Open structure generates moon-
pool effect to minimize wave-
motion and passes plenty of light
and air for aquatic ecosystem
High endurance HDPE components
designed for drinking-water systems.
High buoyancy enables minimum contact
with water surface
Marine-grade Aluminum structures
designed for wind-load over 150
kph

37. mooring can adjust to large water height
4 anchor/tether system similar to a boat
changes
Anti-lift membrane to resist
waves and winds
Key Elements

38. Multiple Solutions Based on
Deployment
Fixed Floats
Dams,
Reservoirs,
Tailings
Near Shore
Coastline, up to
0.5 m waves
Full Offshore
No limits,
suitable for 4-5
m waves

39. ROOFTOP TRACK RECORD
ROOF TOP
SOLUTIONS

40. Our Experience to serve you
✓ We have close to a decade of extensive experience working with
both Government and private institutes
✓ We are India’s Largest Manufacturer of solar panels (500 MW) and
consistently ranked No 1 Indian Module Manufacturer
✓ We have already installed over 3,50,000 kW of systems
We do great work
✓ We select only best in class Inverters, Panels and hardware
✓ We’re skilled, professional, knowledgeable and we build systems that
last decades
✓ Our in-house Engineering team will custom design your system
✓ Recognized Industry Leader: Tier 1 Module Manufacturer
(international), CRISIL SP1A Grading (MNRE), Award for ‘Best Solar PV
Module Manufacturer & Solar Power Developer’ (Government of
India) amongst others
We make it simple
✓ Our team will manage your project from beginning to end, including
Engineering, Procurement, and Installation.
✓ Our installation is robust and it’s easy to maintain for long time.
✓ You can monitor the performance of your system through your
computer or your smart phone.
Waaree Advantage:
Rooftop Installation
ROOF TOP
SOLUTIONS

41. Waaree Advantage:
End To End Capability
Waaree Advantage: Capability to provide complete solution at an optimal cost
1
Solar Modules
Inverters
2
The Inverter converts the DC Current from the
Solar Modules and converts it into the usable AC Current.
Sunlight falls on Solar Panels. Solar panels convert the
sun’s energy into DC Electricity using Photovoltaic effect.
3
Mounting
Structure
Solar Modules are mounted on Structures which should
be corrosion free and strong enough to cater to wind
speeds.
Civil &
Electrical
Works
4
Erection & Commissioning of all Structures and Equipment
using foundations / pedestals Electrical – Connecting all
electrical parts together using time tested practices
ROOF TOP
SOLUTIONS

42. Top rated Rooftop Integrator
By Government as well as 3rd Party
Rating Agency
ROOF TOP
SOLUTIONS

43. 50+ MW in Rooftop Installation…
… and counting
Project Capacity (kW) Project Capacity (kW)
L&T- MHI Turbine generators Pvt. Ltd, Hazira 22 Jharkhand Renewable Energy Development Agency 143
VVP Engineering College, Rajkot 100 Madhya Pradesh Urja Vikas Nigam Ltd. (MPUVNL), 305
Bonetti Waaree (I) Pvt. Ltd., Valsad 100 Deen Bandhu University (DCRUST), Sonepat 50
Surat Municipal Corporation 100 Surat Municipal Corporation 540
Central Electronics Limited (CEL), Sahibabad (UP) 42.4 SSIPL Retail Ltd. 1000
UREDA, Chamoli 20 Grauer and Weil India Ltd. 186
UREDA, Pithoragarh
25
Platina Building, BKC, Mumbai
100
UREDA, Bhimtal
25
MSL, Sukeli, Maharashtra
2000
H.P Govt. Development Agency 32 Reliance Industries, RCP, Ghansoli 600
Haryana Renewable Energy Department Agency 20 Reliance Metro, Mumbai 2300
CPWD, Jaipur
50
Reliance Retail, Various Locations
200
SRG Apparels Pvt. Ltd,Tirupur
1000
Skill Precision Balls Pvt Ltd, Rajkot
200
Ahmedabad Municipal Corporation 15 Grauer and Weil India Ltd., Mumbai 213
Municipal Corporation of Kota
100
Autocon, Bhavnagar (Gujarat)
60
Punjab Energy Development Agency
245
LS Raheja, Mumbai
35
Rajasthan Agriculture Marketing Board, Jaipur 310
ROOF TOP
SOLUTIONS

44. SOLAR WATER PUMP
SOLAR WATER
PUMP

45. Waaree Solar Pumping
System
SOLAR WATER
PUMP
Applications
• Agriculture
a) Sprinkle Irrigation
b) Drip Irrigation
c) Mass Irrigation
• Livestock Watering
• Swimming Pools &
Resorts
• Drinking Water
Supply
a) Townships
b) High-rise Buildings
c) Row Houses
Salient Features &
Benefits
• Easy & low maintenance
• High life expectancy
• Central & state govt.
subsidies
• Under & over voltage
protection
• Versatile applications
• Reverse polarity & dry
run protection
• Start working from early
in morning to late
evening
• No electricity
• No dependency on any other fuel or conventional sources
• Use solar & get reliable water supply

46. Waaree Range of Offerings
SOLAR WATER
PUMP
Head (Meters) Discharge (Liters per day) Hp Rating
Borewell Submersible Pump
(Helical Type)
5 – 350 2700 – 4000 0.5 Hp to 5 Hp
Borewell Submersible Pump
(Centrifugal Type)
5 – 200 2500 – 750000 0.25 Hp to 30 Hp
Openwell Submersible Pump 8 – 40 35000 – 60000 0.5 Hp to 10 Hp
Surface Pump (Monoblock) 10 – 150 500 – 1200000 0.5 Hp to 30 Hp
Swimming Pool Pump 16 – 120 1300 – 30000 0.2 Hp to 2 Hp
Borewell Submersible Pump Surface Pump
Openwell Submersible Pump
* Pumps are available in AC and Dc version

47. FRANCHISEE NETWORK
FRANCHISEE
NETWORK

48. Waaree Franchisee Business: Bringing the Sun to You
21 2
PARTNER STRENGTH
51 0 2 01 1 7As On
FRANCHISEE
NETWORK

49. IPP EXPERIENCE
INDEPENDENT
POWER PRODUCER

50. • Bid for and won prestigious central policy
PPA’s in Consortium with a Mini-ratna
PSU from the thermal power sector
• Developed projects in two clusters –
Madhya Pradesh and Andhra Pradesh
SIZABLE PORTFOLIO AS
INDEPENDENT POWER
PRODUCER
Subsidiary of Waaree for IPP
Business
• Currently holding 100 MW Portfolio with:
• 50 MW at Ichhawar, Madhya
Pradesh (Operational: Jun’2015)
• 25 MW at Gurramkonda, Andhra
Pradesh (Operational: Sep’2016)
• 25 MW at Nagari, Andhra Pradesh
(Under Construction)
INDEPENDENT
POWER PRODUCER

51. PV Modules Installed (Angle 1) PV Modules Installed (Angle 2)
Main Entrance 132 KV Ichhawar Substation
SNAPSHOTS OF ICHHAWAR
PROJECT
INDEPENDENT
POWER PRODUCER

52. PV Modules 132 KV Switchyard
String InverterSCADA
SNAPSHOTS OF
GORRUMKONDA PROJECT
INDEPENDENT
POWER PRODUCER

53. WHY WAAREE!

54. KEY STRENGTHS IN SOLAR
• Customer Connect : Strong Customer Base of Respected
Industrial Houses/Companies
• In-house Team: Experienced & strong team with proven
performance in solar
• Market Acceptance: Proven name and quality at
competitive rates in national and international markets
• Quality Certification: All required approvals and
certifications for modules
• Network: Strong and proven network with all
stakeholders/authorities with more than a decade of
experience
• On-Ground Track Record: Large installations with long and
proven on-ground performance
• Innovation: Consistent introduction of new technologies
and innovative products & solutions

55. TECHNOLOGIES WE ARE
WORKING ON…
• Merlin
– Rugged module architecture solutions for flexible and low-
weight modules
• Nishati
– Applications for military and transportation industries
• OneSun
– New technology with promising chemistry and innovation
• Floating Solar
– Patent protected Floating solar technology - Near Shore and Off-
Shore applications
• Batteries & Storage
– Off-Grid and Utility Scale Storage Solution
• Electrical Vehicle Charging
– Innovative solutions for emerging requirement of EV transport
sector

56. OUR PLANS…
• Additional Capacities:
– Modules Capacity: To increase to
1.8 GW/year
– Structure Capacity: 150-200 Tons
per Day
• New Manufacturing Lines:
– Cell Manufacturing: 500-600
MW/year
– Wafers Manufacturing: 500-600
MW/year
• Sales Network
– Channel Partner Network in India
and other emerging markets
• Projects as IPP’s
– Up to 5 MW
PV Value Chain:
Modules to Wafers
Manufacturing
Inverters: Partner
with Huawei
Structures -
Tracker/Floating:
Partner with SB
Solar and 4C Solar
Module
technologies:
Merlin, Nishati,
OneSun
Storage & Batteries:
Continued
Innovation and
Partnership
IPP for upto 5 MW’s
– Government and
Private PPA’s
Sales Network:
Leverage Partner
network for all
businesses

57. THANK YOU!