Waaree RTL Signs 100 MWp Solar Deal With Viet Khanh

Waaree Renewable Technologies Ltd (Waaree RTL), the solar EPC arm of India's Waaree Group, has signed a non-binding memorandum of understanding (MoU) with Vietnam’s Viet Khanh Joint Stock Company for developing a 100 MWp solar power project.

The project has been awarded to Waaree RTL on a turnkey basis by an international entity, Waaree said in a regulatory filing. The order value and execution timeline will be finalised upon signing of the definitive agreement.

Expanding Global Footprint

Earlier this year, Waaree Energies, through its US subsidiary Waaree Solar Americas, secured a USD 176 million international order. The company purchased 586 MW of solar modules from a US-based developer focused on utility-scale solar and energy storage projects.

Additionally, the subsidiary also previously won a separate 599 MW solar module supply contract from a US-based independent power producer. Under the order, modules will be manufactured at Waaree’s Brookshire facility in Texas and delivered in 2026 across four projects. Waaree Solar Americas, as per the terms of the order, used several domestically produced components. As per the terms of the agreement, modules will be manufactured at Waaree’s Brookshire facility in Texas and delivered in 2026.

Experience in Vietnam

Previously, in 2019, Waaree Energies commissioned a 49.5 MW ground-mounted solar project in Vietnam’s Khanh Hoa province, in partnership with Song Giang Solar Power JSC. The project is spread across 60 hectares in Cam Ranh City, and it generates over 78,600 MWh annually.

Vietnam Electricity (EVN), the state-owned utility, has also signed a 20-year power purchase agreement (PPA), then, under the country’s feed-in tariff regime. The project was approved for 45 MW AC and 49.5 MWp DC. Additionally, Waaree also acted as the turnkey EPC contractor and handled the operations and maintenance of the project.