Waaree Renewable Technologies Ltd (WRTL), a subsidiary of Waaree Energies Ltd, has announced its largest-ever Engineering, Procurement, and Construction (EPC) contract for a 2 GW solar project. The project, awarded by Sunbreeze Renewables Nine Pvt Ltd, a Special Purpose Vehicle (SPV) of Jindal Renewables, will be implemented in Bikaner, Rajasthan.
This landmark project leverages cutting-edge technology and sustainable solutions to maximise energy efficiency and generation, underscoring India’s commitment to renewable energy growth.
Under the contract, WRTL will handle the design, engineering, procurement, supply, construction, testing, and commissioning of the solar photovoltaic (PV) project. The energy produced will be delivered efficiently to the designated Point of Injection (POI).
Commenting on the collaboration, Bharat Saxena, President of Jindal Renewables, stated, “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.”
Jindal Renewables is currently developing nearly 3 GW of diverse renewable assets with secured power off-take agreements. Looking ahead, the company aims to establish approximately 12 GW of renewable energy assets, storage facilities, and green hydrogen production capabilities by 2030, making it one of India’s leading decarbonization solution providers.
Viren C. Doshi, Director of WRTL, expressed enthusiasm for the partnership, saying, “We are delighted to collaborate with Jindal Renewables on this landmark 2 GW solar EPC project.”
As part of the Waaree Group, WRTL has spearheaded solar EPC projects across the country, with over 10,000 installations and a cumulative capacity exceeding 1.82 GW. This 2 GW project represents a significant step forward in Waaree’s mission to expand India’s renewable energy capacity.
On December 31, 2024, Waaree Renewable share price (NSE:WAAREERTL) rose by 2.43%, reaching ₹1,310.05 at 12:40 PM (IST). According to BSE data, the stock recorded a trading volume of 1.90 lakh shares, resulting in a turnover of ₹24.07 crore.
As of September 30, 2024, promoters held a 74.44% stake in Waaree Renewable, while Foreign Institutional Investors (FIIs) owned 0.98%. Domestic Institutional Investors (DIIs) held no stake in the company.
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Published on: Dec 31, 2024, 12:58 PM IST
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