[Mumbai, 13th August 2024]: Waaree Energies Limited (the “Company”), India’s largest manufacturer of solar PV modules with an aggregate installed capacity of 12 GW as of June 30, 2023 (Source: CRISIL Report), has secured a 90 MW order to supply of 540/545Wp dual glass bifacial modules to Juniper Green Cosmic Private Limited, for their solar project in Bikaner, Rajasthan (“Juniper”). This collaboration underscores Waaree Energies’ commitment to driving India’s renewable energy transformation and meeting its escalating power demands.
Mr. Sunil Rathi, Director Sales, Waaree Energies, shared his enthusiasm for this initiative, stating, “We are glad to have won this order of Juniper for this project represents a significant stride in our mission to accelerate India’s transition to renewable energy. Our cutting-edge bifacial modules will not only enhance the region’s solar capacity but also foster economic growth and create employment opportunities. This project is a testament to our dedication to supporting domestic manufacturing and contributing to a sustainable future for India.”
Mr. Naresh Mansukhani, CEO of Juniper Green Energy, remarked, “We’re excited to partner with Waaree Energies on this project. Their bifacial modules perfectly complement our vision of driving innovation in sustainable energy. This collaboration not only expands our renewable portfolio but also reinforces our commitment to India’s clean energy future. By leveraging advanced technology, we’re not just generating power—we’re catalyzing economic growth and environmental progress in the region.”
The deployment of Waaree’s bifacial solar modules will boost Bikaner’s renewable energy capacity, contributing to reduction in carbon emissions and promoting environmental sustainability. As India advances towards its ambitious renewable energy targets, the projects like this are essential in achieving the nation’s vision of a greener and cleaner future.
Juniper Green Energy is an independent renewable energy power producer and operator of solar, wind and hybrid power projects with experience in conceptualizing, building, and developing renewable energy assets. The company is part of the AT Group which has an asset portfolio worth of approximately US$2.5 billion with global investments in renewable energy, residential & commercial real estate, hospitality etc. The Group has been building utility scale renewable energy projects in India since 2010 and built and owned Orange Renewable, a 1GW renewable energy platform in the past.
Juniper Green Energy, based out of Delhi NCR, commenced operations in October 2018. The business has experienced rapid growth, and it presently has an operational portfolio of about 1GW with an under-construction capacity of 2 GW and a development pipeline of close to 5 GW of solar, wind and hybrid projects. The company has end-to-end internal competencies in EPC and O&M services for its renewable projects.
Waaree Energies Limited (“WEL”) was founded in 1990. It is 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). WEL commenced operations in 2007 focusing on solar PV module manufacturing with an aim to provide quality, cost-effective sustainable energy solutions across markets, and aid in reducing carbon foot-print paving the way for sustainable energy thereby improving quality of life. WEL has four solar module manufacturing facilities in India, with international presence.
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Disclaimer:
Waaree Energies Limited (the “Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the websites of the Company at www.waaree.com, SEBI at www.sebi.gov.in, the book running lead managers Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited and ITI Capital Limited, at www.axiscapital.co.in, www.iiflcap.com, www.jefferies.com, www.nomuraholdings.com/company/group/asia/india/index.html, www.sbicaps.com, www.intensivefiscal.com and www.iticapital.inrespectively, of the National Stock Exchange of India Limited at www.nseindia.com and of the BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP which may be filed with the Registrar of Companies, Maharashtra at Mumbai, in future including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI in making any investment decision.
This press release does not constitute an invitation or offer of securities for sale in any jurisdiction. The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) within the United States to “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act), pursuant to Section 4(a)(2) of the U.S. Securities Act. There will be no offering of securities in the United States.
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Manasi Patni (Corp Comm) Mob: +919833926435 Email: manasipatni@waaree.com
Abhishek Dutta Mob: +91 7044342299 |