INDIA ROUND-UP: Waaree secures module orders, Bondada wins EPC contract and Navitas plans cell plant
Waaree Energies secures 800MW domestic solar module provide expose
Indian solar huge Waaree Energies has secured an expose to design 800MW of solar modules to an unnamed domestic buyer.
The expose is scheduled for execution throughout the 2026-27 monetary one year, in accordance to a inventory exchange submitting.
Waaree said the contract is a one-time expose and doesn’t possess any promoter or connected-occasion hobby. The financials of the expose had been no longer disclosed.
On a consolidated foundation, the company reported a 71.4% one year-on-one year jump in rep revenue to INR10.61 billion (US$112 million) in Q4 FY26, when in contrast with INR6.18 billion (US$65.4 million) within the identical quarter last one year. Income from operations surged 111.8% one year-on-one year for the quarter ended 31 March 2026.
Lately, Waaree’s EPC subsidiary Waaree Renewable Applied sciences (WRTL) secured a contract from Sunsational Vitality Non-public Restricted (SPPL) to manufacture a 300MW/450MWp ground-mounted solar PV project in India.
The award, obtained thru a Letter of Award (LoA), covered EPC services and products as nicely as two years of operations and repairs (O&M) give a boost to following commissioning. The project is scheduled for completion throughout the 2026-27 monetary one year.
Bondada wins EPC contract for 250MW solar-plus-storage project
Hyderabad-basically basically basically based EPC agency Bondada Engineering has secured an INR13.38 billion (US$141 million) EPC contract from NTPC Renewable Vitality Restricted (NTPC REL) for a 250MW solar PV project coupled with a 50MW/200MWh battery energy storage machine (BESS) in Uttar Pradesh.
The project, positioned in Sitapur district, was awarded thru a Notification of Award (NOA) and is scheduled to be done within 18 months. The solar-plus-storage facility forms phase of NTPC REL’s efforts to amplify utility-scale renewable energy ability constructed-in with energy storage.
The award will enhance Bondada Engineering’s solar EPC expose book to roughly 5.5GWp and its BESS expose book to spherical 1.1GWh.
Photo voltaic-plus-storage tasks are gaining momentum in India as builders and philosophize utilities sight to enhance grid steadiness and give a boost to dispatchable renewable energy period. The combo of solar PV and battery storage is anticipated to play an extra and extra crucial role in meeting the country’s increasing neat energy and spherical-the-clock strength necessities.
Navitas Photo voltaic to speculate US$158 million in 3.6GW Gujarat solar cell plant
Indian solar producer Navitas Photo voltaic plans to speculate spherical INR15 billion (US$158 million) in a 3.6GW solar cell manufacturing facility in Gujarat, alongside a pilot wafer and ingot production line.
The project will be developed in phases, with the significant phase anticipated to be commissioned in 2027. Extra ability expansions will be in accordance to market stipulations and project readiness.
Navitas said civil construction maintaining larger than 1,000,000 square toes is already underway. Work on the plant is anticipated to make nearly 1,000 jobs within the neighborhood.
“Our planned constructed-in manufacturing expansion in Gujarat is a strategic step in the direction of building a future ready platform across modules, cells and deeper backward integration. With civil work underway, technology partnership in philosophize, key govt approvals secured and senior management appointed to force the project, we are progressing with a particular focal point on execution, quality, innovation and prolonged-period of time competitiveness,” said Vineet Mittal, director, finance and strategy, Navitas Photo voltaic.
The planned solar cell facility is being designed as a extremely automated production plant in a position to supporting future technology upgrades and next-period cell technologies. The corporate additionally intends to build a pilot wafer and ingot manufacturing line in 2027 to decrease dependence on imported upstream solar parts.
The announcement comes as India’s solar sector prepares for implementation of the Accredited Checklist of Objects and Manufacturers (ALMM) Checklist-II necessities for solar cells, which may per chance well be anticipated to force demand for domestically produced cells.
Navitas currently operates 3GW of annual solar module manufacturing ability, producing mono passivated emitter rear cell (PERC) and tunnel oxide passivated contact (TOPCon) modules, and additionally manufactures solar encapsulants thru its subsidiary Navitas Alpha Renewables.
Gujarat Inject secures US$1.5 million module provide expose
Indian PV module seller Gujarat Inject has secured an expose payment roughly INR144.9 million (US$1.5 million) from Deon Vitality for the provision of 16,129 solar PV modules rated at 620W.
The Deon Vitality expose expands Gujarat Inject’s most up-to-date solar module contract portfolio, which contains provide agreements with Earthwave Technology, Very finest Renewtech and Surja Infra.
“The expose from Deon Vitality Restricted represents one more essential step in strengthening our renewable energy industry. It displays the increasing self assurance of patrons in our capabilities and reinforces our commitment to building a scalable solar solutions platform. Now we had been consistently expanding our presence within the Photo voltaic PV Module section and this expose extra strengthens our execution pipeline,” said Deepak Diwan Bachwani, govt director, Gujarat Inject Kerala.
Lately, the company secured a possess expose payment roughly INR10 million (US$104,836) to design solar PV modules from Gujarat-basically basically basically based Ottire Life-style. The settlement covered the provision of 1,334 devices of 600Wp solar PV modules. In accordance with the company, the contract is scheduled to be done by June 2026.
One after the other, Gujarat Inject said it has obtained approval to exchange its title to Regenova Renewtech Restricted.
SolarSquare raises US$fifty three million in Collection C funding spherical
Indian residential solar company SolarSquare has raised US$fifty three million in a Collection C funding spherical.
The Collection C spherical was led by B Capital, with participation from existing patrons along with Lightspeed, Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha and Neatly suited Capital.
The funding brings the company’s total capital raised to larger than US$100 million since its founding in 2015.
SolarSquare said this may per chance utilize the proceeds to amplify into recent cities across India, toughen its technology and operations platform and scale capabilities in areas along with battery storage and residential energy administration.
Shreya Mishra, CEO of SolarSquare, said: “Five years ago, residential solar was restful very nascent. This day, the class has inflected with 100,000 homes adopting solar every ten days in India. We’re desirous to make the working machine for this energy transition—with installation solutions, after-gross sales, financing, battery solutions and residential energy administration.”
The Mumbai-headquartered company specializes within the residential rooftop solar section and operates a vertically constructed-in industry model maintaining machine invent, installation, financing give a boost to and repairs services and products. In accordance with the company, it has installed rooftop solar programs at roughly 50,000 homes across India.
The funding comes amid rapid grunt in India’s residential solar market following the originate of the PM Surya Ghar: Muft Bijli Yojana (PMSGY) in 2024. Better than 3.3 million rooftop solar programs, representing over 12GW of ability, had been installed below the plot.
