Waaree signs MoU for 100MWp solar EPC project in Vietnam's Daklak province
Waaree Renewable Technologies
Ltd has signed a non-binding Memorandum of Understanding (MoU) with Viet Khanh Joint Stock Company to execute turnkey engineering, procurement and construction (EPC) works for a 100MWp
photovoltaic solar power project
in Ea Mdrod commune, Cư Mgar district, Daklak province of Vietnam.
This is the second collaboration between the two companies after the successful commissioning of a 49.5MW solar project in Cam Ranh province in 2019.
According to the MoU, Waaree will undertake the complete design, engineering, construction, testing and commissioning of the solar power plant, which will be connected to Vietnam's national power grid.
The earlier 49.5MW solar project delivered by Waaree during 2018–19 is regarded as one of the highest performing solar installations in Vietnam.
'Waaree Group's 49.5MW solar project delivered in 2018–19 has remained one of the highest performing solar installation in Vietnam till date. This unmatched performance and professionalism form the foundation of our renewed trust. We are pleased to extend our collaboration with Waaree for this upcoming 100MWp project and look forward to building one of the most efficient clean energy assets in the region,' said Dinh Xuan Hai Sang, Chairman, Viet Khanh Joint Stock Company.
The 100MWp solar project, once operational, is expected to offset more than 130,000 metric tons of carbon dioxide emissions annually, which is equivalent to planting over two million trees per year.
'We are honored to deepen our partnership with Viet Khanh through this landmark 100MWp solar project. This collaboration reflects Waaree Group's strong reputation in delivering high-performance, bankable solar infrastructure globally. Our commitment to quality, sustainability, and energy transition aligns perfectly with Vietnam's national energy vision,' said Viren Doshi, Executive Director, Waaree Renewable Technologies Ltd.
The project is aligned with Vietnam's Power Development Plan 8 (PDP8), which targets 30.9 per cent renewable energy share by 2030. It also complements India's Act East Policy by strengthening cross-border clean energy cooperation in Southeast Asia.
Waaree has deployed over 20GW of solar capacity across more than 20 countries and is India's largest solar module manufacturer. The company brings integrated capabilities in module manufacturing and EPC execution.
The project is expected to contribute to the reduction of fossil fuel dependence, improvement in air quality, and serve as a replicable model for renewable energy development in rural and semi-urban regions of Vietnam.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 days ago
- Time of India
MSMEs leading way in economic growth: Guv
1 2 Guwahati: Assam governor Lakshman Prasad Acharya on Friday called the micro, small, and medium enterprises (MSMEs) sector the backbone of the economy after agriculture, emphasising its importance in India's economic journey. Speaking at the North East MSME Conclave 2025 held at NEDFi House in Guwahati, which was organised by the Confederation of Indian Industry (CII), Acharya hailed the northeast as a "priceless treasure", rich in biodiversity, natural resources, and traditional industries. "The region's unique products like bamboo, tea, silk, and handlooms have the potential to become global assets through the power of MSMEs," he said. The governor also reiterated Assam's strategic role as the "Gateway to the East" under India's Act East Policy. "This opportunity must be seized, with MSMEs playing a leading role in building bridges of trade, innovation, and cultural exchange," he said. He also asked the industry leaders, for greater investment in the northesat, enhanced youth training, skill upgradation, access and reach to global market for local products. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Access all TV channels anywhere, anytime Techno Mag Learn More Undo The governor urged the participants to make the most of the conclave by engaging in meaningful dialogue and collaboration. "The success of this conclave will send a message of hope, prosperity, and transformation for generations to come," he said. Recalling India's historical economic strength, he said the country once contributed nearly 27% to the global GDP before colonialism led to the decline of local industries. "While large industries received attention post-independence, MSMEs were ignored for decades," he said, crediting PM Narendra Modi's leadership for revitalising the sector through key initiatives like Mudra Yojana and Udyog Sathi App. The conclave saw participation from stakeholders across the region, including former CII-NE Council Chairman SK Baruah, NABARD CGM Loken Das, PNB ED D. Surendran, and CII member Gopi More.
Hans India
6 days ago
- Hans India
Is Tripura ready to lead the India-Bangladesh trade corridor?'
Rusan Reang Agartala: Despite the recent efforts of Bangladesh's Chief Adviser Muhammad Yunus, particularly his 'Mango Diplomacy' aimed at fostering cordial relations with India, a pressing question remains: Is Tripura ready to become the Northeast Gateway for Bangladesh's trade corridor under India's Look East Policy? For decades, Tripura, like many other Northeastern states in India, has been landlocked, with the narrow Siliguri Corridor, often referred to as the 'Chicken's Neck,' serving as its only connection to the rest of the country. This geographic isolation has hindered the region's access to mainstream economic development. However, Tripura is now emerging as a strategic link between India's Northeast and Bangladesh, playing a crucial role in the country's 'Act East Policy,' which aims to enhance economic cooperation and strategic partnerships across the Asia-Pacific region. Landmark infrastructure projects, such as the Maitri Setu Bridge in Sabroom and the Agartala–Akhaura Rail Link, inaugurated in 2021 and 2023 respectively, position Tripura as a vital India-Bangladesh trade corridor, connecting the landlocked Northeast to international markets. However, Tripura's potential as the 'Northeast Gateway' is not solely reliant on its geographic location; it also depends heavily on political will, cross-border diplomacy, and effective implementation. The Agartala–Akhaura rail link, which spans 12.24 km, connects Tripura to key industrial hubs in Bangladesh, including Dhaka, Chittagong, and Sylhet, making Agartala the first state capital in India directly linked by rail to Bangladesh. Meanwhile, the Maitri Setu Bridge, which crosses the Feni River in South Tripura, stretches 1.5 km and links Sabroom to Ramgarh in Bangladesh, providing direct access to the Chittagong Port. This route significantly reduces logistics costs from Agartala to Kolkata Port by up to 80% compared to traditional routes through the Siliguri Corridor. However, these projects are not yet fully operational and remain subject to diplomatic negotiations, technical readiness, and policy alignment between the two nations. If the India-Bangladesh trade corridor becomes fully operational, it will significantly boost the region's growth, enhance logistics, create jobs, and position Tripura as a vital trade center for the entire Northeast.
Economic Times
6 days ago
- Economic Times
Will Reliance shares deliver bumper returns for 48 lakh shareholders? 3 game-changing triggers ahead
Despite recent investor disappointment with Q1 results, Reliance Industries (RIL) is poised for significant growth, according to major brokerages. Jio's rising ARPU through tariff hikes, the ambitious new energy business entering execution phase, and the potential Jio IPO are key catalysts. Analysts project substantial value creation, with targets indicating confidence in RIL's transformation. Tired of too many ads? Remove Ads Here are 3 growth triggers that can ignite a rally in RIL shares: 1) Jio's ARPU Explosion Through Strategic Tariff Hikes Tired of too many ads? Remove Ads 2) New Energy Business: The Next Opportunity Tired of too many ads? Remove Ads 3) Jio IPO: The Ultimate Value Crystallization Event While billionaire Mukesh Ambani-led Reliance Industries RIL ) disappointed investors with Q1 results that fell short of street expectations, leading to sharp selling pressure after a blistering 25% rally from March lows, major brokerages see a perfect storm of growth catalysts brewing that could trigger substantial value creation in the months mixed street reaction tells the tale of two stories: Kotak Equities downgraded the blue-chip Nifty heavyweight to 'Add' from 'Buy,' while global giants JP Morgan and Jefferies boldly upgraded their target prices by 8% and 5% respectively, signaling confidence in the oil-to-telecom giant's transformation delivered a "strong beat on higher margins" with ARPU climbing 1.3% quarter-on-quarter to ₹208.8 per month, according to Bernstein. But the real fireworks are yet to come."Over FY25-28, we expect Jio's ARPU to rise at 11% CAGR to Rs273, led by three tariff hikes of 10% each in end-2QFY26/27/28," Jefferies analysts project, with rising share of higher-ARPU home broadband users providing additional telecom powerhouse added 498.1 million subscribers (+1.7% QoQ) with EBITDA margins surging to 51.8% (170bps QoQ), as consolidated revenue hit ₹410.5 billion (+18.8% YoY).RIL's ambitious new energy push is entering the critical execution phase, with management expecting "Giga factories/new energy projects (Polysilicon, wafer, cell, module, batteries) to be completed in the next four to six quarters."The scale is staggering: "Reliance gigacomplex will be the largest end-to-end renewable energy manufacturing 4x of Tesla giga factory," Bernstein notes. The company plans to commission solar/cell capacities by March next year, with the 7,000-acre Kutch site having "potential to produce 125GW of power."Nuvama's analysis reveals the hidden value bomb: "Drawing a solar module/cell capacity comparison with Waaree (13.3/5.4GW) and Premier (4/3.2GW), whose EVs are ~$10 bn and $6 bn, respectively, RIL's 20GW fully integrated solar equipment manufacturing facility could potentially translate to a much higher EV."The numbers are eye-popping: "Ascribing a 15x EV/EBITDA to RIL's modules business (20GW capacity) yields an EV of USD20bn, which could trigger a valuation re-rating for RIL's stock price—similar to the trend seen following RJIO's launch in 2017."This fundamental shift in RIL's business model is reshaping its investment appeal. "Prior to venturing into retail/telecom, RIL's earnings growth was determined by either: a) capex (new refining/chemical capacities), or b) margin cycles," JP Morgan notes. "Reliance Retail + Telecom now account for ~54% of total FY25 consolidated EBITDA."The new energy vertical adds another dimension: "RIL's New Energy rollout shall not only add 50%-plus to PAT, but also re-rate valuations, including the O2C business given its net zero-carbon target by 2035," according to much-anticipated Jio IPO, though "pushed beyond 2025," remains the ace up RIL's sleeve for unlocking massive shareholder value. JP Morgan values Reliance Retail at $121 billion, trading at ~32x FY27E EBITDA—significantly below DMART's 42x multiple."Any crystallization of this retail valuation upside – through an IPO process or through further stake sales – could lead to further upside in RIL's stock," JP Morgan analysts confidence is palpable: "We expect Reliance's consolidated Ebitda to improve significantly in the near future, led by increasing share of Jio and Retail." The brokerage sees RIL's "conservative valuation" as making it "an attractive bet for most large cap portfolios" in an "otherwise extended valuation of the Indian market."JP Morgan's investment thesis is equally compelling: "In a market where most stocks are trading well above historical valuations, Reliance's fair relative valuations are an attraction." The firm expects RIL to "deliver positive free cash flow" with an EBITDA run-rate of approximately $20 billion reinforces the bullish narrative: "The stock currently trades at 12.1x and 23.3x FY27F EV/EBITDA and P/E, respectively. We reiterate our Buy rating for RIL."Investors will now laser-focus on the upcoming AGM within two months, looking for "further announcements on growth plans in FMCG, the ramp-up of new energy facilities, the expansion of the media business, acceleration of growth in Retail, the ramp-up of subscriber additions and monetisation for Jio along and the IPO of Jio."With RIL targeting to "double the size of its Jio and Retail businesses" alongside the new energy ramp-up "to the size of its O2C business," the company's ambitious goal of "doubling Reliance's size by the end of FY30" suddenly appears within striking distance, according to RIL's 48 lakh shareholders weathering the current volatility, the message from Street's finest is clear: the best may be yet to come.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
