India Solar PV News Snippets: Trial Production For Waaree’s 5.4 GW Cell Fab & More
Waaree Energies Limited is set to bring its 5.4 GW solar cell production plant in Chikhli, Gujarat to commercial operations after announcing it in October 2022. (Photo Credit: TaiyangNews)
5.4 GW cell fab in Gujarat: Indian solar PV company Waaree Energies Limited has started trial production of its 5.4 GW solar cell manufacturing factory in Gujarat. In a stock exchange announcement, the management shared that it initiated the trial production of its Chikhli-located factory on January 6, 2025. “With innovation and sustainability as our central goal, we're championing indigenous manufacturing. This brings us closer to India’s goal of self-reliance in solar energy and global leadership in renewable energy,” stated the company.
The company claims to be the country’s largest solar PV module manufacturer with an operational capacity of 13.3 GW as of June 30, 2024. This is spread across 5 manufacturing facilities in Chikhli, Surat, Tumb, and Nandigram, all in Gujarat. The group announced its plans to venture into cell production with 5.4 GW capacity in October 2022. It also plans to establish a 2 GW solar fab in the US and expand it to 5 GW.
New orders for Waaree: Waaree Energies Limited has secured a 150 MW solar module supply order from an unidentified customer. It plans to start the delivery of modules in FY 2025-26. Additionally, another Waaree Group entity, Waaree Renewable Technologies (WRTL) has secured a 2 GW solar EPC order from Jindal Renewables. It says this is the largest single order in the history from a single customer. The order has been placed by Jindal’s special purpose vehicle (SPV) Sunbreeze Renewables Nine Pvt. Ltd. The project is located in Bikaner in Rajasthan. WRTL will oversee the design, engineering, procurement, supply, construction, testing and commissioning of the project.
Gensol’s 275 MW contract: Gensol Engineering has secured an EPC contract for a 275 MW solar power project in Gujarat from a public sector undertaking (PSU). It will construct the project at a renewable energy park in Khavda, Rann of Kutch for INR 10.62 billion ($124 million). It will also provide O&M for 3 years for the facility.
Oriano commissions captive solar plant: Oriano Clean Energy has commissioned 295 MW DC/211.2 MW AC captive solar power plant for ArcelorMittal Group at Kurnool in Andhra Pradesh. This project, with Inter-State Transmission System (ISTS) connectivity, is part of the 925 MW solar and 314 MW wind project. Of this, Oriano is tasked with building 295 MW solar capacity and provide O&M services for 354 MW.
IREDA loan activity increases: The state-run renewable energy financier Indian Renewable Energy Development Agency (IREDA) approved loans worth INR 310.87 billion ($3.6 billion) in Q3 2024 (period ending December 31, 2024). This represents a 129% year-on-year (YoY) growth. Loan disbursements also went up by 41% YoY to INR 172.36 billion ($2 billion), while its outstanding loan book stood at INR 690 billion ($8 billion) with a 36% increase. “The 129% growth in loan sanctions underscores the increasing confidence of stakeholders in our capabilities and our pivotal role in supporting green energy projects,” said IREDA Chairman and Managing Director Pradip Kumar Das. Under its Vision 2025, it aims to establish a retail subsidiary for which it has received an in-principle approval. This subsidiary will focus on handling retail business under the PM Surya Ghar and PM-KUSUM schemes. The same will also cater to the emerging B2C segments in renewable energy including electric vehicles, energy storage, green technologies and energy efficiency.
Green loans by REC: A Ministry of Power company providing finance to power infrastructure in the country, REC Limited says it disbursed loans worth INR 546.92 billion ($6.6 billion) in Q3 2024 (period ending December 31, 2024), representing a 17.98% YoY growth. Of this, the quantum of renewable energy loans went up by 58.09% to INR 63.14 billion ($766 million). For the 9M 2024 period, its total loan disbursement went up by 19.30% YoY to INR 1,456.47 billion ($17 billion) out of which renewable energy loans totaled INR 176.12 billion ($2.13 billion) representing 78.68% YoY jump.