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					</table><p>Solar engineering, procurement, and construction (EPC) company <a href="https://waareertl.com/" target="_blank" rel="noopener">Waaree Renewable Technologies</a> has received a letter of award from Purvah Green Power for EPC of a 300 MW solar power project in Bikaner, Rajasthan.</p>
<p>The project’s contract value is ₹3.46 billion (~$40.49 million), and it is scheduled for completion this financial year.</p>
<p>In September 2024, Purvah Green Power was <a href="https://www.mercomindia.com/purvah-300-mw-solar-projects-cesc/" target="_blank" rel="noopener">selected</a> by Calcutta Electric Supply Corporation (<a href="https://www.cesc.co.in/home" target="_blank" rel="noopener">CESC</a>) to develop 300 MW of interstate transmission system-connected solar power projects across India. Of the total capacity, 150 MW will be developed through tariff-based competitive bidding, while the remaining 150 MW will be executed under a greenshoe option.</p>
<p>The tender for these works was <a href="https://www.mercomindia.com/cesc-issues-tender-to-procure-150-mw-of-solar-power" target="_blank" rel="noopener">floated</a> in July 2024.</p>
<p>In May, Waaree secured an EPC contract, including operation and maintenance, for 94 MW of solar projects under the second phase of the Mukhyamantri Saur Krushi Vahini Yojana, with a contract value of ₹1.14 billion (~$13.34 million).</p>
<p>In December last year, Waaree Renewables Technologies <a href="https://cwww.mercomindia.com/waaree-secures-2-gw-solar-epc-contract-from-jindal-renewables/" target="_blank" rel="noopener">secured</a> an engineering, procurement, and construction contract for a 2 GW solar project in Bikaner from Sunbreeze Renewable Nine, a special-purpose vehicle of Jindal Renewables.</p>
<p>The company had also <a href="https://www.mercomindia.com/waaree-wins-rumsls-170-mw-solar-project-in-neemuch-solar-park" target="_blank" rel="noopener">won</a> Rewa Ultra Mega Solar’s auction to develop a 170 MW solar power project at the Neemuch Solar Park in Madhya Pradesh.</p>
<p>Waaree Renewable Technologies <a href="https://www.mercomindia.com/epc-contracts-push-waarees-revenue-up-83-10-in-fy25/" target="_blank" rel="noopener">reported</a> a 74.84% year-over-year rise in revenue to ₹4.81 billion (~$56.15 million) from ₹2.75 billion (~$32.1 million) in the fourth quarter of the financial year 2024-25.</p>
<p>Purvah commenced operations in December 2023 in West Bengal, focusing on generating, trading, and dealing in electrical energy derived from renewable energy sources. In August 2024, CESC <a href="https://www.mercomindia.com/cesc-buys-majority-shares-in-purvah-power-for-24-million/" target="_blank" rel="noopener">acquired</a> a 63.91% equity stake in Purvah at the cost of ₹2.05 billion (~$24.48 million). Purvah was earlier a wholly-owned subsidiary of Crescent Power, a CESC subsidiary.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender activity.</p>


Waaree Bags 300 MW Solar EPC Contract from Purvah Green


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					</table><p>Waaree Renewables Technologies (<a href="https://waareertl.com/" target="_blank" rel="noopener">WRTL</a>), a subsidiary of <a href="https://waaree.com/" target="_blank" rel="noopener">Waaree Energies</a>, has secured an engineering, procurement, and construction (EPC) contract for a 2 GW solar project in Bikaner, Rajasthan, from Sunbreeze Renewable Nine, a special-purpose vehicle of <a href="https://www.jirel.com/" target="_blank" rel="noopener">Jindal Renewables</a>.</p>
<p>This is the largest-ever solar EPC contract bagged by Waaree.</p>
<p>The scope of work includes designing, engineering, procuring, supplying, constructing, testing, and commissioning the solar project.</p>
<p>WRTL will also ensure clean energy delivery to the designated point of injection.</p>
<p>Waaree Group has installed over 1000+ solar projects with a cumulative capacity of over 1.82 GW; another 1.7 GW of projects are under execution. The company has commissioned more than 178 rooftop solar projects totaling over 50 MW.</p>
<p>The company has developed about 40 MW of solar projects as an independent power producer. It also recently <a href="https://www.mercomindia.com/waaree-wins-rumsls-170-mw-solar-project-in-neemuch-solar-park" target="_blank" rel="noopener">won</a> Rewa Ultra Mega Solar’s (RUMSL) auction to develop a 170 MW solar power project at the Neemuch Solar Park in Madhya Pradesh, quoting a tariff of ₹2.15(~$0.025)/kWh.</p>
<p>WRTL is a subsidiary of Waaree Energies, which has a 12 GW solar module manufacturing capacity in India and a 1.6 GW facility in the U.S.</p>
<p>The company&#8217;s annual report disclosed that it aims to achieve net zero emissions by 2040 and source 100% of its energy requirements from renewables by 2030.</p>
<p>Recently, the company announced that it will <a href="https://www.mercomindia.com/waaree-energy-to-set-up-300-mw-electrolyzeser-and-3-5-gwh-lithium-ion-cell-manufacturing-projects-project" target="_blank" rel="noopener">set up</a> a 300 MW electrolyzer and a 3.5 GWh lithium-ion Advanced Chemistry Storage Cell manufacturing plant. Waaree Energy Storage Solutions, another Waaree Energies subsidiary, will set up the 3.5 GWh lithium-ion Advanced Chemistry Storage Cell manufacturing project.</p>
<p>Waree Energies <a href="https://www.mercomindia.com/leading-solar-module-suppliers-1h-2024" target="_blank" rel="noopener">emerged</a> as one of the top solar module suppliers in the first half of 2024, according to Mercom India’s Solar Market Leaderboard 1H 2024.</p>
<p>In December 2023, Waaree Energies <a href="https://www.mercomindia.com/waaree-build-5-gw-solar-module-manufacturing-us" target="_blank" rel="noopener">announced</a> plans to build a 5 GW integrated solar cell and manufacturing facility in Brookshire in the U.S. to produce 3 GW of solar modules annually by the end of 2024. Waree Energies plans to invest up to $ 1 billion over the next four years to scale the capacity to 5 GW by 2027.</p>


Waaree Secures 2 GW Solar EPC Contract from Jindal Renewables


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					</table><p><a href="https://www.mercomindia.com/kpi-green-juniper-guvnl-hybrid-auction" target="_blank" rel="noopener"><strong>KPI Green Energy</strong><strong> and </strong><strong>Juniper Green Energy</strong><strong> were declared the winners of Gujarat Urja Vikas Nigam’s auction to procure power from 500 MW grid-connected wind-solar</strong></a> hybrid renewable energy projects with the possibility of expanding the capacity by an additional 500 MW through the greenshoe option<strong>.</strong> KPI Green, which quoted ₹2.99 (~$0.0360)/ kWh, was awarded 50 MW. Juniper won 150 MW at ₹3.04 (~$0.0366) /kWh.</p>
<p><a href="https://www.mercomindia.com/modi-announces-new-rooftop-solar-on-10-million-homes" target="_blank" rel="noopener"><strong>A new program to install rooftop solar systems on 10 million households across India has been announced by Prime Minister Narendra Modi as part of the</strong></a> Pradhan Mantri Suryodaya Yojana initiative. The program aims to reduce the electricity expenditure of poor and middle-class households while enabling India’s self-reliance in the field of energy, the Prime Minister said in a post on the microblogging site X.</p>
<p><a href="https://www.mercomindia.com/rec-records-highest-9m-profit-%e2%82%b9100-billion-fy24" target="_blank" rel="noopener"><strong>Public infrastructure finance company </strong><strong>REC Limited</strong><strong> recorded a revenue of ₹120 billion (~$1.44 billion) for the third quarter (Q3) of the financial year (FY) 2023-24</strong></a>, a 23.56% year-over-year (YoY) increase from ₹97.12 billion (~$1.17 billion). The company attributed the performance during the quarter to improved asset quality, increased lending rates, and effective management of financing costs.</p>
<p><a href="https://www.mercomindia.com/waaree-renewable-profit-surges-q3-fy24" target="_blank" rel="noopener"><strong>Waaree Renewable Technologies</strong><strong>, the solar engineering, procurement, and construction (EPC) arm of the Waaree Group, posted a net profit of ₹644.6 million (~$7.7 million) in Q3</strong></a> of the FY 2024, an increase of 158% YoY from ₹249.8 million (~$3 million). The increase in net profit could be attributed to the increase in the EPC orders won and executed by the company during the period. The company executed ~208 MW of EPC projects during the quarter.</p>
<p><a href="https://www.mercomindia.com/new-sodium-ion-battery-scale-energy-storage" target="_blank" rel="noopener"><strong>A team of researchers from the </strong><strong>University of Adelaide</strong><strong> in Australia and the </strong><strong>University of Maryland</strong><strong> in the U.S. have developed a new type of aqueous sodium-ion battery</strong></a> that they claim can last for over 13,000 charge cycles, overcoming a key limitation of aqueous batteries: water decomposition. The findings, published in the journal Nature Communications, show that the researchers created an alkaline, rather than neutral, electrolyte that suppresses water splitting into oxygen and hydrogen.</p>
<p><a href="https://www.mercomindia.com/navigating-gst-challenges-renewables-planning-execution" target="_blank" rel="noopener"><strong>The renewable energy sector is experiencing unprecedented growth fueled by environmental concerns and technological advancements.</strong></a> Countries are increasingly prioritizing sustainability, leading to the rapid adoption of clean energy sources like solar, wind, and hydropower. Falling renewable technology costs are making it economically competitive. India exemplifies this trend, aiming to install 500 GW of power generation capacity from non-fossil fuels by 2030.</p>
<p><a href="https://www.mercomindia.com/mercom-launches-energy-meet-series-in-bengaluru" target="_blank" rel="noopener"><strong>Mercom India is launching its third installment of the “C&amp;I Clean Energy Meet” series in 2024. This series of events, spanning eight major cities, will kick off in Bengaluru</strong></a> on January 24, 2024, at the Peenya Trade Center, with registrations opening at 5 pm. Mercom aims to bring together clean energy solution providers and consumers to engage with each other on issues like power requirements, challenges, opportunities, and sustainable solutions.</p>


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