Waaree Energies Subsidiary Secures 700 MW Solar & 700 MW ESS Project from SECI
Waaree Energies' subsidiary, WFEPL, received a Letter of Award from SECI for a 700 MW Solar and 700 MW/2800 MWh Energy Storage Solution project in Solapur, Maharashtra. The Power Purchase Agreement is valid for 25 years. This marks a significant new order for the company.
The order is for a substantial capacity (700 MW Solar and 700 MW ESS) and includes a long-term Power Purchase Agreement of 25 years, indicating a significant impact on the company's future revenue and market position.
The company has secured a significant new order for a large-scale renewable energy project, which is a positive development.
Waaree Energies Limited announced that its wholly owned subsidiary, Waaree Forever Energies Private Limited (WFEPL), has received a Letter of Award (LOA) from Solar Energy Corporation of India Limited (SECI). The LOA is for the development of a 700 MW Solar and 700 MW/2800 MWh Energy Storage Solution (ESS) Renewable Energy Power Project located in Solapur, Maharashtra.
The Power Purchase Agreement (PPA) associated with this project will be valid for 25 years from the scheduled commencement of the supply date. This award signifies a significant development in the renewable energy sector for Waaree Energies. The project is classified as a one-time contract awarded by a domestic entity, SECI.
Waaree Energies Limited, headquartered in Mumbai, is a key player in the renewable energy sector. The company's subsidiary's success in securing this large-scale project highlights its growing capabilities in developing integrated solar and energy storage solutions.
A plain-language summary of a public exchange filing by Waaree Energies Limited. Read the original for the full detail.