JUNE 20258WAAREE ENERGIES BAGS 599 MW SOLAR MODULE SUPPLY ORDER IN THE USINDIA'S GREEN HYDROGEN COSTS TO DROP 40% WITH GOVT INCENTIVESDuring the first quarter of FY26, domestic firm Waaree Energies obtained a new order for the supply of 599 megawatt (MW) solar modules in the United States, increasing the company's total orders to over 1,200 MW. The order has been secured through its US-based company Waaree Solar Americas, which previously won a deal for 586 MW of solar modules."Waaree Solar Americas Inc secures 599 MW order in US surpassing 1,200 MW+ in new deals for FY25-26 Q1, underscoring resilience and growing momentum in the American market," Waaree Energies said in a statement.One of the top US independent power producers (IPPs) will receive the modules. The IPP and the company have signed an agreement in this regard, and the modules are expected to be delivered from the company's state-of-the-art manufacturing facility in Brookshire, Texas, in 2026."This agreement is a strong testament to Waaree's commitment to developing a robust, US-based clean energy ecosystem. Our Brookshire facility is uniquely positioned to meet rising demand with high-quality, American-made modules, helping our partners deliver on ambitious energy targets while creating jobs and ensuring supply security," said Sunil Rathi, President of Waaree Solar Americas.He added, "This partnership reflects our shared vision to accelerate America's energy transition through dependable, high-performance solar technology. Backed by decades of manufacturing excellence in India, we're proud to support our US partners with scalable solutions tailored to this evolving market." According to a report by the Institute for Energy Economics and Financial Analysis, the government's support and incentives are predicted to reduce the cost of green hydrogen in India, a nation that is making significant strides in the renewable energy sector, by up to 40%.TOP STORIESKey Insights:· Waaree secures 599 MW US solar order, total deals surpass 1.2 GW· Modules to be delivered from Brookshire, Texas plant in 2026· Partnership strengthens US clean energy goals and local manu-facturing presenceKey Insights:· Green hydrogen costs in India may fall by up to 40%· Incentives include lower GST, waived charges, and cheap renew-able power· Industry is positive, but policy refinements are needed for long-term growthIn India, the levelized price of green hydrogen is predicted to drop to between Rs 260 and Rs 310 per kilogram (USD 3 to 3.75 per kilogram).In addition to lowering distribution and transmission costs, lowering the GST rate for hydrogen to 5%, and waiving interstate transmission charges for open access, India offers hydrogen producers inexpensive renewable electricity. Additionally, according to the research, electrolyser manufacturers are expected to reduce overall system costs by 7­10% over the first five years, beginning in 2024. The average yearly realizable base incentive is Rs 2,960/kW (USD 36/kW)."While the green hydrogen scheme is an important step for India, refinements are needed to promote long-term investment and project viability," says the report.According to the research, the industry has responded positively to India's green hydrogen initiative. It went on to say, though, that the plan needs to be adjusted to draw in new businesses, compete with multinational firms, build a supply chain, and secure demand in order to guarantee the long-term survival of the sector."If successful, it could help build India's green hydrogen industry with benefits for a range of sectors including agriculture, transport and manufacturing," the Institute for Energy Economics and Financial Analysis report added.
< Page 7 | Page 9 >