Waaree Secures Record 2 GW Solar EPC Contract
Waaree Renewables Technologies (WRTL), a subsidiary of Waaree Energies, has secured its largest-ever engineering, procurement, and construction (EPC) contract for a 2 GW solar project in Bikaner, Rajasthan. The contract was awarded by Sunbreeze Renewable Nine, a special-purpose vehicle of Jindal Renewables. The project scope includes design, engineering, procurement, supply, construction, testing, and commissioning of the solar facility, as well as ensuring the delivery of clean energy to the designated injection point. Waaree Group has a strong track record in solar installations, having completed over 1,000 projects with a cumulative capacity exceeding 1.82 GW, while another 1.7 GW of projects are under execution. Additionally, the company has commissioned 178 rooftop solar projects totaling over 50 MW and has developed 40 MW of solar capacity as an independent power producer. In recent milestones, Waaree won Rewa Ultra Mega Solar’s (RUMSL) auction to develop a 170 MW solar project at Neemuch Solar Park, Madhya Pradesh, with a tariff of Rs 2.15/kWh. Waaree Energies, the parent company, boasts a 12 GW solar module manufacturing capacity in India and a 1.6 GW facility in the U.S. It was ranked among the top solar module suppliers in the first half of 2024, according to Mercom India’s Solar Market Leaderboard. The company has ambitious expansion plans, including a 5 GW integrated solar cell and module manufacturing facility in Brookshire, U.S., set to produce 3 GW of solar modules annually by the end of 2024. With an investment of $1 billion planned over four years, Waaree aims to scale the facility's capacity to 5 GW by 2027. Further diversifying its portfolio, Waaree recently announced a 300 MW electrolyser project and a 3.5 GWh lithium-ion advanced chemistry storage cell manufacturing plant under its subsidiary Waaree Energy Storage Solutions. In line with its sustainability goals, Waaree aims to achieve net-zero emissions by 2040 and source 100% of its energy needs from renewable sources by 2030. (Mercom)
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