Waaree and Bhagyanagar secure solar contracts
Author: PPD Team Date: February 28, 2025
Waaree Renewable Energy Technologies Limited has secured a contract from ABREL EPC Limited, a subsidiary of Aditya Birla Renewables Limited, for supplying solar photovoltaic (PV) modules for a 410 MWp solar power project in India. The module supply is expected to begin in FY 2026.
Bhagyanagar India Limited has received a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for developing 53 MW decentralized solar power projects under the Mukhyamantri Saur Krishi Vahini Yojana (MSKVY) 2.0.
The contract includes project development and 25 years of comprehensive operation and maintenance. The power generated will be supplied to MSEDCL under a 25-year Power Purchase Agreement (PPA) at a tariff of Rs 3.09 per kWh.
The central government will provide financial assistance of Rs 556.5 million for the project, which is expected to be completed within 18 months at an estimated cost of Rs 2.45 billion. This initiative aligns with the Maharashtra government’s goal of solarising at least 30 percent of agricultural feeders by installing 7,000 MW of solar power capacity in the state.