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Last Updated on 25th June 2024
Waaree Renewable Technologies secured an order worth USD 71 million (INR 547.5 crore) for a 412 MW solar energy project. The organization has received a Letter of Award for the execution of engineering, procurement, and construction (EPC) work for a solar power plant on a turnkey basis.
This project win is a major milestone for Waaree, significantly boosting their unexecuted order book to an impressive 1.161 GW. The company is tight-lipped about the client, only revealing it's a "global leading utility in the world in renewable energy." This secrecy adds to the intrigue and suggests a significant player in the clean energy space has placed their trust in Waaree's expertise.
The project is expected to be completed by December 2024, contributing significantly to India's ambitious renewable energy goals. The country aims to achieve 175 GW of renewable energy capacity by 2022, and Waaree's contribution brings it closer to that target.
This substantial project win reinforces Waaree's position as a major player in the Indian solar energy sector. It strengthens their financial standing, expands their portfolio, and positions them for further growth in the coming years.
Waaree Renewable Technologies (WRTL) is a subsidiary of the Waaree Group, a leading Indian company in the renewable energy space. Founded in 1999, WRTL has established itself as a key player in the solar energy market.
Waaree boasts India's largest solar panel manufacturing capacity, with facilities across Gujarat. They offer a diverse range of solar modules for various applications.
The company offers comprehensive operations and maintenance (O&M) services for solar power plants, ensuring optimal performance and maximizing energy generation. Waaree Renewables acts as a developer, financing, constructing, owning, and operating solar projects, offering a one-stop solution for clients.
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The database is a vital resource for a wide range of entities, including developers, EPC companies, project owners, solar PV module suppliers, BOM, Operation and Maintenance (O&M) companies, data analytics and software providers, consulting and advisory firms, power utilities, investors and financial institutions lending to projects as well as refinancing existing projects, research and development organizations, companies looking for acquisition of solar power plants, government and regulatory bodies, and law firms.
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