Waaree Energies announced that its wholly owned subsidiary, Waaree Forever Energies has received Letter of Award (LoA) for the development of a 170 MW solar power plant in Madhya Pradesh, from Rewa Ultra Mega Solar Limited (RUMSL).
The solar plant, it added, will enable the generation and transmission of clean energy via the Inter-State Transmission System (ISTS). “The project will supply renewable energy to Madhya Pradesh Power Management Company Ltd and Indian Railways thus contributing significantly to India’s renewable energy goals,” the company said in a regulatory filing.
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Earlier this month, Waaree Energies’ chief financial officer Sonal Shrivastava had said that the company aims to set up an 11.4 gigawatt (GW) integrated solar cell manufacturing facility by fiscal year 2026-27. Of this, Waaree Energies will commission 5.4 GW of solar cell manufacturing capacity with an estimated investment of Rs 2,400-2,500 crore in the current fiscal and the remaining 6 GW integrated manufacturing facility to produce ingots, wafers, and solar cells by FY27.
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Additionally, the company is also planning to commission 1.6 GW module manufacturing capacity in the US with an investment of $70-80 million by the end of current fiscal year. The company presently has 13.3 GW of module manufacturing capacity.
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