Waaree Energies secured a Letter of Award (LOA) from the Solar Energy Corporation of India (SECI) to develop a 700 MW solar power project integrated with a 700 MW/2,800 MWh energy storage system (ESS) in Solapur, Maharashtra. Under the project, Waaree Energies will supply power through a 25-year Power Purchase Agreement (PPA), strengthening its position in India’s expanding solar and energy-storage market.
700 MW Solar Project to Integrate Large-Scale Energy Storage
The Solapur project will combine 700 MW of solar generation capacity with a 700 MW/2,800 MWh energy storage system. By integrating storage with renewable generation, the project can support more reliable power delivery and improve the utilisation of solar energy. The long-term PPA will provide a structured framework for supplying electricity over a 25-year period.
Waaree Energies Consolidates Indian Manufacturing Operations
Alongside the SECI project, Waaree Energies’ board has approved the consolidation of its manufacturing operations in India. As part of the plan, the company will relocate plant and machinery from its 1 GW Tumb facility and 1.11 GW Nandigram facility to its existing manufacturing plant in Chikhli, Gujarat. The consolidation is expected to streamline manufacturing operations and enable the company to optimise the utilisation of its existing production infrastructure.
$37 Million Investment to Upgrade Arizona Solar Module Plant
Waaree Energies is also strengthening its manufacturing footprint in the United States. The company’s board has approved approximately $37 million in capital expenditure by Waaree Solar Americas Inc. (WSA), its wholly owned subsidiary, to modernise its solar module manufacturing facility in Arizona. The investment will replace the existing module production lines with new high-efficiency manufacturing lines. Consequently, WSA’s Arizona manufacturing capacity will increase from 1 GW to 1.6 GW.
US Manufacturing Capacity to Reach 4.8 GW
Following the Arizona expansion, Waaree Energies’ total solar module manufacturing capacity in the United States will rise to 4.8 GW. The expanded capacity will comprise – Texas: 3.2 GW and Arizona: 1.6 GW. Total US capacity: 4.8 GW. The company said it will finance the Arizona capital expenditure through a combination of debt and internal accruals. As reported by pv-magazine-india.com, through the SECI project, Indian manufacturing consolidation and increased US production capacity, Waaree Energies is expanding across both the renewable power generation and solar manufacturing value chains.
