Waaree Energies Limited secures 400 MW Solar Module Supply Contract from GIPCL

Waaree Energies Limited, India’s largest manufacturer of solar PV modules with the largest aggregate installed capacity of 12 GW, as of June 30, 2023 (Source: CRISIL Report), proudly announces the reception of a Letter of Intent (LOI) from Gujarat Industries Power Company Limited (GIPCL) for a 400 MW module supply deal. The contract entails the comprehensive supply of solar PV modules incorporating advanced bifacial technology for the 2,375 MW RE Park near Vill. Khavda, Great Rann of Kutch, Gujarat.

Waaree Energies Limited, will undertake the manufacturing, testing, packing, and transportation of these solar PV modules, while adhering to the prescribed quality standards and an aim to execute the project in a timely manner. Each module, featuring ALMM category specifications and a capacity ranging from 540 Wp to 570 Wp, is expected to ensure optimal performance, durability, and efficiency.

Mr. Hitesh Chimanlal Doshi, Chairman & Managing Director, Waaree Energies Limited, commented, “We are honoured to collaborate with GIPCL on this project, marking a milestone in India’s renewable energy journey, this initiative underscores our commitment to promote domestic manufacturing, generate employment, and support the nation’s ambitious renewable energy targets while aiming to uphold the standards of excellence.”

The procurement of 400 MWp bifacial solar PV modules, accompanied by mandatory spares of 0.5% (2 MW), underscores the reliability of Waaree Energies’ offerings. Further, this collaboration is expected to strengthen Waaree Energies’ foothold in the renewable energy sector in India and aid in its commitment to contribute to the advancement of India’s energy security and environmental sustainability goals.