Indian solar product manufacturer and installer, Waaree Energies Ltd, has been granted a Letter of Award (LOA) for the deployment of 70 MW DC of solar photovoltaic (PV) capacity. The contract, valued at an estimated INR 1.83 billion (USD 22m/EUR 20.5m), excluding taxes, was disclosed in a filing to the stock exchange on Tuesday.
The comprehensive scope of the award encompasses all engineering, procurement, and construction (EPC) activities related to the project, along with subsequent operations and maintenance of the PV plant for a period of five years. The capacity will be installed on a turnkey basis at an undisclosed location in India.
The solar park is set to be commissioned in phases and is anticipated to achieve full operational status by the end of the fiscal year concluding in March 2025.
In a separate development, Waaree has secured a contract to supply over 135 MW of solar PV modules to NTPC Ltd, a state-run power producer. The modules will power a plant situated in the Baran district of Rajasthan, with completion expected within four months.