Waaree RTL Confirms Jindal Renewables As 2 GW EPC Client

Mumbai-based Waaree Renewable Technologies Limited (WRTL), the EPC focused  subsidiary of Waaree Energies Limited, India’s largest solar PV module manufacturer, has secured its largest-ever Engineering, Procurement, and Construction (EPC) contract for a 2 GW solar project from Sunbreeze Renewables Nine Pvt. Ltd, a Special Purpose Vehicle (SPV) of Jindal Renewables. The project will be implemented in Bikaner, Rajasthan, utilizing advanced technologies and sustainable solutions to enhance energy efficiency and maximize generation. WRTL had announced the deal late last month, while pegging the deal value at over Rs 1200 crores, without naming the client.

Under this collaboration, WRTL will oversee the design, engineering, procurement, supply, construction, testing, and commissioning of the solar PV project, ensuring efficient delivery of clean energy to the designated Point of Injection (POI).

Bharat Saxena, President of Jindal Renewables, commented: “This project aligns perfectly with our commitment to driving sustainability in the steel industry. Partnering with Waaree for lower emission steel production is just the beginning- there will be many more such initiatives as we continue to lead the way in adopting renewable energy solutions.”

Viren C. Doshi, Director of Waaree Renewable Technologies Ltd, stated: “We are delighted to collaborate with Jindal Renewables on this landmark 2 GW solar EPC project. It reinforces our dedication to delivering state-of-the-art renewable energy solutions to support India’s ambitious clean energy targets. This partnership with Jindal Renewables marks a milestone in our efforts to drive sustainable energy transformation both within India and globally.”

While the firms have not mentioned an expected date for project completion, it seems safe to predict substantial progress or commissioning by 2026 end, considering the nature of the deal. For Waaree RTL, the deal is a significant addition to its portfolio, besides easily being the largest ever project it has bagged in terms of size. The firm expects the trend to continue in the coming quarters as well as over 40 GW of allocated projects move towards execution in 2025.

Jindal Renewables aims to become a pioneer in renewable energy projects in India, currently developing close to 3GW of diverse renewable assets with power off-take completely locked in. It aims to develop around 12 GW of renewable energy assets, storage facilities, as well as significant green hydrogen production facilities by 2030 and become amongst the largest de-carbonization solution providers in the country.