Solar PV module manufacturer, Waaree Energies, has clinched a substantial module supply agreement for 200 MW with ENGIE India, a division of the globally recognized ENGIE Group, distinguished for its commitment to low-carbon energy and services. This strategic collaboration revolves around a solar project nestled in the Surendra Nagar region of Gujarat, India.
The solar initiative, aptly named GUVNL 2, is being meticulously developed by ENGIE India in close coordination with Gujarat Urja Vikas Nigam (GUVNL) under a 25-year solar power purchase agreement (PPA). As per the agreement, Waaree Energies assumes the pivotal role of supplying 200 MW of solar modules for the Sayla village-based project in Gujarat.
While the specific financial details of this substantial deal remain undisclosed, the partnership significantly reinforces Waaree Energies' esteemed status as one of India's premier solar module producers.
The scheduled commencement of the module supply arrangement is slated for November of the current year, with completion expected by February 2024. Upon the installation of 200 MW of AHNAY 545 Wp Bifacial modules, the project anticipates an annual energy output of a remarkable 340 million units.
Waaree Energies has continually demonstrated its industry leadership, securing an enduring Tier 1 rating from BloombergNEF for an impressive 35 consecutive quarters, solidifying its position as the sole solar module producer in India with this distinction. The company's stature as a trusted supplier for solar power projects extends not only within India but also on an international scale, owed to its consistent track record in delivering dependable and bankable modules capable of meeting the rigorous demands of large-scale utility projects.