Waaree Renewables Technologies (WRTL), a subsidiary of Waaree Energies, has secured an engineering, procurement, and construction (EPC) contract for a 2 GW solar project in Bikaner, Rajasthan, from Sunbreeze Renewable Nine, a special-purpose vehicle of Jindal Renewables. This is the largest-ever solar EPC contract bagged by Waaree. The scope of work includes designing, engineering, procuring, supplying, constructing, testing, and commissioning the solar project.
WRTL will also ensure clean energy delivery to the designated point of injection. Waaree Group has installed over 1000+ solar projects with a cumulative capacity of over 1.82 GW; another 1.7 GW of projects are under execution. The company has commissioned more than 178 rooftop solar projects totalling over 50 MW.
The company has developed about 40 MW of solar projects as an independent power producer. It also recently won Rewa Ultra Mega Solar’s (RUMSL) auction to develop a 170 MW solar power project at the Neemuch Solar Park in Madhya Pradesh, quoting a tariff of 2.15(~$0.025)/kWh. WRTL is a subsidiary of Waaree Energies, which has a 12 GW solar module manufacturing capacity in India and a 1.6 GW facility in the U.S.
The company’s annual report disclosed that it aims to achieve net zero emissions by 2040 and source 100% of its energy requirements from renewables by 2030. Recently, the company announced that it will set up a 300 MW electrolyzer and a 3.5 GWh lithium-ion Advanced Chemistry Storage Cell manufacturing plant.
Waaree Energy Storage Solutions, another Waaree Energies subsidiary, will set up the 3.5 GWh lithium-ion Advanced Chemistry Storage Cell manufacturing project. Waree Energies emerged as one of the top solar module suppliers in the first half of 2024, according to Mercom India’s Solar Market Leaderboard 1H 2024. In December 2023, Waaree Energies announced plans to build a 5 GW integrated solar cell and manufacturing facility in Brookshire in the U.S. to produce 3 GW of solar modules annually by the end of 2024. Waree Energies plans to invest up to $ 1 billion over the next four years to scale the capacity to 5 GW by 2027.
