Newsletter
Waaree Renewable, a solar energy solutions provider, secured a Letter of Award (LoA) for a ₹740 crore solar power project.
The deets: the order is part of a 3-member consortium for a 125 MWAC solar power plant. The project was awarded by a leading power distribution company and is set for completion within 18 months.
Background: last year, the company had secured a term sheet for an EPC contract worth ₹1,233 crore to execute a ground-mounted solar PV project. The capacity at that time was 2012.5 Megawatt peak Direct Current (MWp DC).
Big picture: in February, the government had launched a $1 billion subsidy to boost solar panel manufacturing domestically, hoping to cut reliance on markets like China.
Recently, India crossed 100 GW of installed solar power capacity. This was a significant milestone in the country's renewable energy journey.
The numbers: India’s solar capacity has grown by over 3,000% from just over 2.8 GW in 2014 to a remarkable 100 GW in 2025. The country’s installed capacity has grown over 73 GW as of 2024, making solar power a key pillar of India’s 175 GW renewable energy target.
What’s next: India’s solar ambitions are far from over. Currently, 84.1 GW of capacity is in progress, with another 47.4 GW under tender. By 2030, India aims to achieve 280 GW of solar capacity, contributing significantly to its target of 500 GW in total renewable energy.
