Waaree Supplied 1.56 MW of Solar Modules to Avanti Renewable Energy Pvt Ltd

Waaree Energies, India's leading solar PV module manufacturer, has Supplied 335 Wp Poly solar modules for a project developed by Avanti Renewable Energy Private Limited. The size of the project is 1.56 MW located at Survey No- 105/2, Hothragondahalli village, Mathodu Hubbli Kerehalli Post, Chitradurga district - 577533, India.

Waaree has supplied 1.56 MW of solar modules for this project. The project has been commissioned on 28th December, 2021. The project was financed by Indian Overseas Bank on non-recourse basis.

WAAREE Energies Ltd is one of India's leading Solar PV Module manufacturer with capacity of 2 GW's at its facilities in Surat, Tumb and Nandigram in Gujarat. Currently, WAAREE has India's largest sales and service network with 388+ franchises across India.

Having multiple global certifications, WAAREE aims to ensure Environmental Safety and Quality measures and performs multiple tests at various manufacturing stages. The vision of WAAREE Energies is to provide quality, cost-effective sustainable energy solutions across markets.It provides EPC services, project development & rooftop solutions.

About WAAREE Energies Ltd: WAAREE Energies Ltd. is the flagship company of WAAREE Group, founded in 1989 with headquarters in Mumbai, India. It has Solar PV Module manufacturing capacity of 2 GW at its plants in Gujarat. WAAREE has its presence in over 388 locations nationally through its franchisees.

Disclaimer: Waaree Energies Limited 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 Securities and Exchange Board of India ("SEBI").

The DRHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited and Intensive Fiscal Services Private Limited, respectively, and the websites of the stock exchange(s) at www.nseindia.com and www.bseindia.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.

This announcement is not an offer for sale of securities in the United States. The equity shares of the Company may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.