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Waaree Energies Limited, India's biggest solar PV module manufacturer, has formed a significant agreement with Mahindra Susten, a leading renewable independent power producer (IPP), to deliver 280 MW of solar modules. This partnership highlights India's rapid transition to sustainable energy alternatives.
As per the deal, Mahindra Susten will receive AHNAY Series, Bi-55 545Wp modules from Waaree. These modules are distinguished by their beneficial glass-to-glass design and come with a 30-year output performance warranty. The third quarter of Fiscal 2025 is when these modules are expected to be delivered, which will be a significant milestone in both businesses' efforts to support India's renewable energy infrastructure.
Waaree Energies, with the largest installed capacity of 12 GW as of June 30, 2023, as reported by CRISIL, has been chosen for this project due to its proven ability to meet delivery timelines and supply quality products. The company's manufacturing prowess and the enhanced efficiency and durability of its modules were key factors in securing the deal over competitors.
Hitesh Doshi, Chairman & Managing Director of Waaree Energies, expressed his enthusiasm about the partnership, stating, "Delving into this partnership with Mahindra Susten brings immense pleasure to Waaree Energies Limited. It is yet another step in our commitment to advancing India's clean energy transition as we embark on this journey, providing 280 MW of our AHNAY Series, Bi-55 545Wp solar modules."
Deepak Thakur, Managing Director & CEO of Mahindra Susten, highlighted the alignment of Waaree's 'Made-in-India' products with their commitment to supporting the 'Atmanirbhar Bharat' initiative. "We are pleased to announce our partnership with Waaree Energies Limited for the supply of solar modules. In our pursuit of powering the nation with clean, sustainable energy, we are committed to significantly developing multiple IPP renewable energy projects," Thakur added.
Mahindra Susten, part of the Mahindra Group and established in 2010, has been at the forefront of India's renewable energy sector. The company has developed over 1.5 GWp of renewable assets as an IPP and executed over 4.2 GWp of renewable projects as an EPC in India and internationally. Currently, it is developing over 1.4 GWp of projects as an IPP.
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