Daily news wrap: Waaree Energies gets SEBI nod for IPO, Jharkhand starts getting 200 MW solar power from Gujarat

Solar manufacturer Waaree Energies had filed its draft red herring prospectus (DRHP) with Sebi in September last year. Jharkhand has started getting 200 MW of solar power from Gujarat at a price of INR 2.5/kWh under a 25-year PPA with SECI.

January 11, 2022 Uma Gupta

Waaree Energies' 49.5 MW ground-mounted solar project in Vietnam

Image Credit: Waaree Energies

Waaree Energies, a Mumbai-headquartered solar manufacturer and EPC contractor, had filed its draft papers with capital markets regulator Securities and Exchange Board of India (Sebi) in September last year as it seeks to raise money for PV manufacturing expansion and other purposes. The IPO includes a fresh issue of equity shares worth INR 1,350 crore (US$182.6 million) and an offer for sale of 4 million shares by existing shareholders and promoters. Currently, Waaree Energies has a solar module manufacturing capacity of 2 GW at its plants in Gujarat.

Jharkhand starts getting 200 MW solar power from Gujarat

The state of Jharkhand, which has been facing electricity demand-supply gap of 200 to 500 MW for the last few day, has started getting 200 MW of solar power from Gujarat. The State discom Jharkhand Bijli Vitran Nigam Limited is getting solar electricity at a price of INR 2.5/kWh under a 25-year power purchase agreement with the Solar Energy Corporation of India (SECI) signed in July 2018. As per the agreement, SECI will supply 700 MW of solar power to JBVNL at this rate for a period of 25 years. The balance 500 MW is likely to be supplied starting July in a phased manner.

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