Waaree Energies: 540 MW US Solar Deal Fuels 3% Stock Rally

Shares of Waaree Energies jumped as much as 3.4% to their intraday high of Rs 3,048 on the BSE on Monday after its U.S.-based subsidiary secured a 540 megawatt (MW) solar module supply contract from a leading American developer of utility-scale solar and energy storage projects.

The deal, finalized on June 27, will be executed through a one-time international supply arrangement. Waaree Solar Americas will deliver 270 MW of modules in 2025, with the remaining 270 MW scheduled for 2027–2028, the company disclosed in a stock exchange filing on Friday.

This latest deal adds to Waaree’s recent string of international wins. In the past few weeks, the company has secured two other large U.S. orders, one for 586 MW and another for 599 MW of solar modules. The flurry of contracts comes as Waaree looks to ramp up its presence in the North American market.

The company is also doubling its manufacturing capacity at its Brookshire, Texas, facility to 3.2 gigawatts (GW) by the end of 2025.

In a statement issued earlier last week, Waaree reaffirmed its compliance with U.S. trade regulations, including Foreign Entity of Concern (FEOC) rules, and disclosed that its order book now stands at 25 GW through 2027.

Technical indicators and price performance

On the technical front, Waaree Energies’ stock is showing bullish momentum. It is currently trading above all seven of its key simple moving averages (SMAs), ranging from the 5-day to the 150-day SMA, suggesting strength across both short-term and long-term charts.
The Relative Strength Index (RSI) is at 56.4, indicating that the stock is in neutral territory but with upward potential. A reading below 30 is considered oversold, while a reading above 70 is overbought.
The Moving Average Convergence Divergence (MACD) stands at 42.3 and remains above both the center and signal lines, reinforcing the ongoing bullish trend.

Shares of Waaree Energies have gained 22.6% in the past three months and are up 5.6% over the last six months. However, the stock has seen a 2.3% dip in the past month.

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