Waaree Energies Limited signs contract with Mahindra Susten to supply 280 MW solar modules

Waaree Energies Limited, India’s largest manufacturer of solar PV modules with the largest aggregate installed capacity of 12 GW, as of June 30, 2023 (Source: CRISIL Report), announced today that it has entered into an agreement with Mahindra Susten a renewable independent power producer (“IPP”) player for the provision of 280 MW of solar modules. Waaree Energies Limited will supply 280 MW of AHNAY Series, Bi-55 545Wp modules to Mahindra Susten. Module delivery is expected during third quarter of Fiscal 2025.

The selected modules by Mahindra Susten are bifacial Glass-to-Glass with a 30-year output performance warranty. Waaree Energies Limited, India’s largest manufacturer of solar PV modules with the largest aggregate installed capacity of 12 GW, as of June 30, 2023 (Source: CRISIL Report), marked by NABL approved laboratory, and the company’s capacity to meet delivery timelines while ensuring quality products played a pivotal role in the company securing this project over its competitors.

Waaree Energies Limited’s bifacial Glass-to-Glass modules incorporate improved efficiency and durability. 

Commenting on the agreement, Mr. Hitesh Doshi, Chairman & Managing Director, Waaree Energies Limited, said, “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. Our mission revolves around promoting the widespread adoption of sustainable energy solutions through strategic collaborations and partnerships.”

Mr. Deepak Thakur, Managing Director & CEO, said,  “We are pleased to announce our partnership with Waaree Energies Limited for supply of solar modules. Their ‘Made-in-India’ products perfectly align with our commitment of supporting ‘Atmanirbhar Bharat’ in our projects. In our pursuit of powering the nation with clean, sustainable energy, we are committed to significantly develop multiple IPP renewable energy projects. We are excited about the opportunities ahead as we expand our portfolio and contribute to a sustainable future with nation energy transition.”

Mahindra Susten was established in 2010 as one of the earliest players in India’s renewable power solutions sector. As the clean-tech arm of the Mahindra Group, the company has developed over 1.5 GWp of renewable assets as an IPP (Independent Power Producer, and successfully executed over 4.2 GWp of renewable projects as an EPC in India and across the globe. Mahindra Susten is currently developing over 1.4 GWp of projects as an IPP.