Waaree Energies share price rises 2% on NABL accreditation for Solar PV module test lab, up 10% in one week

The stock rose 2% to ₹2,896.15 apiece on the National Stock Exchange (NSE) at 12:48 pm. The company's market capitalisation stands at ₹83,269.04 crore.

With this, the scrip has gained 9.9% in the one-week period.

Waaree Energies receives NABL accreditation for advanced testing lab

In an exchange filing on Thursday, Waaree Energies attained NABL accreditation for its cutting-edge PV module test lab at a module manufacturing facility in Gujarat's Chikhli.

Notably, this is Waare's second NABL accreditation after the Tumb manufacturing facility.

"The National Accreditation Board for Testing and Calibration Laboratories (NABL), a globally recognised body for laboratory accreditation, awarded this recognition under ISO/IEC 17025:2017 standards. This accreditation affirms the lab’s competence in delivering precise and reliable results across a wide array of testing parameters," the company said.

The PV module test lab performs more than 48 tests, including damp heat, thermal cycling, potential-induced degradation, and to ensure that PV modules meet uncompromising performance, safety, and durability requirements, the regulatory filing said.

The advanced testing lab can conduct:

• Design and safety qualifications for PV modules.
• Accelerated testing to guarantee durability, reliability, and optimal performance under diverse field conditions.
• Specialised testing, including biological, electrical, chemical, mechanical, radiological, IT systems, electro-technical, thermal, photometry, and medical equipment.

Hailing the achievement, Dr Amit Paithankar, CEO of Waaree Energies, said, "This second NABL accreditation is another proud milestone for Waaree and a step forward for India’s solar sector. With advanced testing capabilities now extended to our Chikhli facility, we can certify even larger volumes of solar modules domestically, reducing reliance on foreign labs and saving valuable resources."

"This achievement reinforces our commitment to making India self-reliant across the solar supply chain while ensuring our products consistently meet the highest global standards," he added.