Waaree Renewable Technologies, India’s largest solar manufacturer and EPC service provider, has secured a Rs 547.5 crore order for a 412 MWp solar power plant. The project is expected to be completed by December 2024 and will provide clean energy to over 3 lakh households.
Introduction
Waaree Renewable Technologies (WRTL), a subsidiary of Waaree Group, announced on Monday that it has received a Letter of Award (LOA) for the execution of Engineering, Procurement and Construction (EPC) work for a solar power plant of 412 MWp /335 MWac on a turnkey basis. The order value is Rs 547.5 crore, according to a BSE filing .
The LOA also includes operations and maintenance (O&M) for a period of two years from the date of handover, with an order value of Rs 6.798 crore. The company did not disclose the name or location of the client, but said that it is one of the global leading biggest utilities in the world in renewable energy.
With this order, the unexecuted order book of WRTL now stands at 1.161GW, indicating a strong growth momentum for the company.
About Waaree Renewable Technologies
WRTL is a leading solar EPC company in India, with a presence in over 68 countries. The company offers end-to-end solutions for solar projects, including design, engineering, procurement, installation, commissioning and O&M. WRTL is also a solar developer that finances, constructs, owns and operates solar projects.
WRTL is a part of Waaree Group, which has been in the solar industry since 1989. Waaree Group is India’s largest solar manufacturer, with a production capacity of 12 GW. The group also supplies premium quality solar products such as panels, inverters, batteries and water pumps.
Benefits of the Project
The project is expected to be completed by December 31, 2024 as per the terms of the order. The project will have a capacity of 412 MWp /335 MWac, which is equivalent to powering over 3 lakh homes with clean energy.
The project will also contribute to India’s renewable energy targets, which aim to achieve 450 GW of installed capacity by 2030. The project will help reduce carbon emissions and dependence on fossil fuels, as well as create employment opportunities for the local population.
Conclusion
Waaree Renewable Technologies has bagged a Rs 547.5 crore order for a 412 MWp solar power plant from a global leading utility. The project is scheduled to be completed by December 2024 and will provide green energy to over 3 lakh households. The order reflects the strong position and expertise of WRTL in the solar EPC market.