Waaree Energies announced today that it has signed and executed a power purchase agreement (PPA) with Rewa Ultra Mega Solar Ltd (RUMSL) and M.P. Power Management Co. Ltd (MPPMCL) for the supply of 150 MW solar power to MPPMCL.
The company’s wholly owned subsidiary Waaree Forever Energies had received a Letter of Award (LoA) from RUMSL for the development of a 170 MW solar power plant in Madhya Pradesh.
“The execution of the project will now be undertaken by Waaree Energies,” said the company in a stock exchange filing.
The renewable power generated from the ISTS connected project will be supplied to MPPMCL and Indian Railways.
Headquartered in Mumbai, Waaree Energies operates manufacturing facilities with an installed capacity of 15 GW for solar PV modules and 5.4 GW for solar cells. The solar manufacturer is actively expanding into power infrastructure, with one acquisition already in progress and 170 MW to be developed.
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