Waaree recognizes the value of innovation, says Doshi
Bedford-based CubicPV will supply 1 GW of silicon cells per annum to Waaree Energies Ltd, under a multi-year agreement and for Indian manufacturers to use materials that requires less energy and is defined by high efficiency.
The cells will feature wafers made with CubicPV’s transformative Direct Wafer® technology, that produces wafers in one-step, directly from a molten bath of silicon.
The agreement intends to strategically position Waaree to capture robust industry growth by delivering the lowest levelized cost of electricity (LCOE) to the Indian utility-scale market.
“Our Direct Wafer technology is the ideal solution for India’s domestic utility market and Waaree, by choosing this technology over generic methods, is setting the tone for an Indian manufacturing future that makes better use of materials, requires less energy and is defined by high efficiency,” said Frank van Mierlo, CEO, CubicPV.
“CubicPV is honored to begin our journey in India with Waaree. The synergy between one of the leading module manufacturers in India and Cubic’s innovation agenda will create value for both companies and the solar industry in India.”
The partnership between the two companies aims to ustrengthen India’s domestic solar manufacturing ecosystem, with CubicPV providing the basis for a domestic supply line for Waaree and a level of immunity with respect to the logistics challenges and volatile commodity pricing that has defined the import market.
“As an early entrant in the solar industry, Waaree recognizes the value of innovation to our continued leadership position,” Hitesh Doshi, Chairman and MD, Waaree, said on 28 April 2022.
“We believe that CubicPV’s technologies will deliver significant benefit to our customers and to the Indian solar market both immediately and in the long-run. We are proud to bring a module to the market featuring domestically-produced wafers and cells manufactured with a low carbon footprint.”
With its innovations in solar manufacturing and materials, CubicPV is creating a solar future which is defined by more powerful tandem solar modules, reductions in the cost of electricity and lower embodied carbon. The company’s core technologies, the Direct Wafer® process and durable perovskite chemistry, deliver the lowest cost of electricity and provide the ideal semiconductor combination for high-efficiency tandem modules. CubicPV has offices in Bedford, Ma., and Dallas.
Waaree is a part of the Waaree Group and has the country’s leading Solar PV Module manufacturing capacity of 2 GW. In addition, it is one of leading players in India in EPC services, project development, rooftop solutions and solar water pumps. Waaree has its presence in over 388 locations nationally and 19 countries globally. fiinews.com
