Waaree Energies Limited, one of India’s leading solar power companies, has recently secured significant orders for 398 MW of solar modules for two major renewable energy projects. These orders include 249 MW and 149 MW solar projects from a prominent customer involved in the development and operation of renewable energy projects across India. The company’s efforts in the solar energy sector continue to grow, demonstrating their expertise and ability to meet the rising demand for solar PV modules in India’s expanding renewable energy market.

The two contracts reflect the growing shift towards renewable energy and the increasing reliance on solar power to meet India's energy needs. This development is a testament to Waaree Energies' strong position within the solar industry and its commitment to contributing to India’s renewable energy goals. The contracts are domestic and are a significant part of India's journey toward increasing its reliance on clean energy sources.

Key Details of the Orders

As outlined in the official communication, the solar module supply will commence in the FY 2025-2026, with the contract terms detailing the supply of modules for two solar power projects. Waaree Energies is tasked with delivering solar modules for both the 249 MW and 149 MW projects, aggregating to a total of 398 MW of solar power capacity.

The customer, a well-known renewable energy player in India, owns and operates multiple solar energy projects across the country. This collaboration highlights the trust placed in Waaree Energies' high-quality solar solutions for large-scale projects.

No Related Party Transactions

According to the disclosure requirements under Regulation 30 of the SEBI Listing Regulations, the order does not involve any related party transactions. Waaree Energies has confirmed that neither the promoters nor the group companies have any interest in the awarding entity. The transaction has been conducted at arm’s length, ensuring complete transparency in the deal.

Impact on Waaree Energies

The receipt of these orders marks a significant milestone for Waaree Energies, as it reinforces the company’s position in the Indian renewable energy market. With the government’s push for renewable energy and the growing demand for solar power, Waaree Energies is well-positioned to play a crucial role in meeting the nation's energy needs. The company’s ability to secure such large-scale orders further solidifies its credibility in the industry and affirms its standing as one of India’s key players in solar energy development.

As India looks to enhance its renewable energy capacity, projects like the ones awarded to Waaree Energies contribute significantly to reducing the nation’s carbon footprint. This move aligns with India’s commitment to achieving net-zero emissions by 2070 and increasing its share of renewable energy in the power mix. Waaree Energies, with its extensive experience and strong market presence, is poised to continue contributing to these national goals.

In addition to solar projects, Waaree Energies has also been expanding its portfolio of solar power solutions, which includes solar panels, inverters, and solar energy systems. The company’s continued focus on innovation and quality ensures that it remains a trusted partner for major solar energy developers in India.

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