Waaree Secures SECI Award for Setting Up 90,000 MTPA Green Hydrogen Production Facility in India
Waaree Clean Energy Solutions, a subsidiary of Waaree Energies, has secured a Notification of Award (NOA) from SECI to set up a 90,000 MTPA green hydrogen production facility under the SIGHT Scheme. The company is also investing INR 551 crore for a 300 MW electrolyser manufacturing plant. Additionally, Waaree is expanding in solar and battery storage, with notable investments in solar cell and storage manufacturing plants.
Waaree Clean Energy Solutions, a wholly-owned subsidiary Waaree Energies, has received a Notification of Award (NOA) from the Solar Energy Corporation of India (SECI) for setting up a 90,000 MTPA green hydrogen production facility in India.The award is under the Strategic Interventions for Green Hydrogen Transitions (SIGHT) Scheme (Model-1, Tranche-II).Going beyond solar, Waaree’s ambition is to move towards a broader energy transition theme. Hence, the company is also foraying into green hydrogen and battery energy storage systems.
In December 2024, the company’s board approved capital expenditure amounting to INR 551 crore and investment of INR 200 crore for setting up 300 MW of electrolyser manufacturing plant in its wholly-owned subsidiary Waaree Clean Energy Solutions under the PLI tender issued by MNRE through SECI. The capex will be funded by mix of debt and internal accruals, the company informed in a regulatory filing.In the solar energy segment, the company operates five manufacturing facilities across Gujarat and Uttar Pradesh, with an installed capacity of ~13.3 GW for solar PV modules, including 1.3 GW of Indosolar.Last month, Waaree Energies started trial production in its 5.4 GW solar cell manufacturing plant in Chikhli, Gujarat.
Further, a 6 GW integrated facility in Odisha too is in the advanced stages of planning.In December 2024, Waaree Energies’ board also approved capital expenditure amounting to INR 2,073 crore and investment of INR 650 crore for setting up 3.5 GWh Lithium Ion Advanced Chemistry Storage Cell manufacturing plant in its wholly-owned subsidiary Waaree Energy Storage Solutions.With these strategic investments Waaree is diversifying its business with the aim of strengthening its presence across the renewable energy verticals in sync with the fast-evolving RE industry.
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Source : Energetica
