Waaree Renewable Technologies Bags 52.6 MW Solar Project

Waaree Bags 1 GW order

Waaree Renewable Technologies Limited has received a letter of intent for Engineering, Procurement and Construction (EPC) services in for the establishment of a ground mounted solar power project of capacity worth 52.6 MWp.

The commercial order has been bagged by a group company, which is among India’s leading power generation firms. The project is slated for completion during Financial Year 2023-24, as per the terms of order.

Waaree Renewable Technologies is the solar engineering, procurement and construction subsidiary of the Waaree Group, a firm that delves into the ownership, financing as well as the operation of solar projects.

Last month, Waaree Energies Limited (WEL), a flagship firm of Waaree Group and India’s largest solar module maker right now, successfully raised a round of equity funding, amounting to approximately INR 1000 crore. The investment round was led by ValueQuest, an investment focused on sustainable and progressive ventures.

Waaree’s solar panel manufacturing capacity of 12 GW is spread across its plants in Chikhli, Surat and Umbergaon in Gujarat and has presence in EPC Services, Project Development, Solar Rooftop Solutions, Solar Inverter, and Solar Water Pumps. It is also an Independent Power Producer. Waaree has a presence over multiple locations nationally through its franchisees and 20 countries internationally as of June 30, 2023. Waaree has supplied over 6 GW of solar modules and commissioned over 1 GW of solar EPC projects.