Waree Renewable Technologies, an EPC company within the Waree Energies group, aims to achieve a 15.5 GW bidding pipeline in FY25. Chief Financial Officer Dilip Panjwani noted that the company’s order book has grown from 800 MW last year to 2.1 GW currently.
For FY25, Panjwani emphasized their existing order book of 2.1 GW and highlighted the government’s policy mandating 50 GW of renewable energy tenders annually as a significant opportunity within their 15.5 GW bidding pipeline.
Panjwani identified several key opportunities in the sector, including round-the-clock (RTC) renewable projects and storage, which he described as a 42 GW Rs 14 trillion opportunity. He also highlighted the significant potential in the hydrogen sector, largely driven by solar power.
Waree Renewable Technologies already manages almost 500 MW in operations and maintenance (O&M) and anticipates expanding to 2 GW in O&M as current projects complete in the next 9-12 months.
Addressing the decline in Chinese solar panel prices, Panjwani noted that this benefits developers by reducing overall capital costs, with panels comprising 50% of project expenses. This price reduction has accelerated decision-making, leading to 16 GW of tenders issued in the last quarter. The company also plans to explore international markets at the right time.