WattPower inks fame agreement with Renew Power to supply 1.2 GW of string inverters by Dec 2023 – EQ Mag
New Delhi [India] : WattPower, a leading provider of innovative energy solutions, announced a ground-breaking deal with ReNew Power, India’s leading renewable energy company. The agreement entails the supply of 1.2 Giga Watts (GW) of string inverters, making it one of the largest deals in the solar inverter industry. With a contract value of close to INR 200 crores, this collaboration marks a significant milestone in advancing India’s transition to clean energy.
On this occasion, Sivaprasad Manikkapurath, Executive Vice President of ReNew Power, expressed his enthusiasm, stating, “This is a part of our total target of 5 GW of solar project by 2024. As an organisation, our focus will always revolve around maintaining the best quality and ensuring the timely completion of projects. Definitely, a contract like this will help us achieve our goals better.”
WattPower, a company that originated in Germany, has garnered substantial financial support from a prominent German group boasting a revenue of one billion USD. With an impressive expansion strategy, WattPower has successfully extended its operations to over 10 countries across two continents and is experiencing rapid growth. WattPower’s string inverters are renowned for their efficiency, reliability and advanced features, enabling seamless conversion of solar energy into usable electricity. This deal with ReNew Power will empower the deployment of state-of-the-art renewable energy projects across India, contributing to the country’s ambitious clean energy targets.
By leveraging WattPower’s cutting-edge string inverter technology, ReNew Power aims to enhance the performance and output of its renewable energy installations. The high-efficiency string inverters will optimize energy production, ensuring maximum yield from solar power plants and maintaining plant uptime. Additionally, the advanced monitoring and control capabilities of WattPower’s inverters will enable real-time performance tracking, fault detection and preventive maintenance, leading to improved operational efficiency and reduced downtime.
Commenting on the partnership, Divya Prakash Choraria, Managing Director of WattPower, stated, “We are thrilled to collaborate with ReNew Power, a trailblazer in the renewable energy sector. Our advanced string inverters will play a vital role in effectively harnessing India’s abundant solar resources. This deal reaffirms our commitment to accelerating the adoption of clean energy and enabling a sustainable future.”
This landmark deal between WattPower and ReNew Power will boost the country’s renewable energy capacity and contribute significantly to job creation and local economic growth. The deployment of the 1.2 GW string inverters will create numerous opportunities for skilled professionals in the renewable energy sector.
WattPower and ReNew Power reiterate their shared vision of driving sustainable development, and delivering reliable and clean energy solutions that contribute to India’s green energy revolution. By harnessing the power of solar energy, the two companies aim to reduce carbon emissions, combat climate change, and create a greener future for generations to come.
WattPower is a leading provider of innovative energy solutions, specializing in advanced string inverters for solar power systems. The company’s cutting-edge technology ensures efficient and reliable conversion of solar energy into electricity, enabling the seamless integration of renewable power into the grid.
ReNew Power is India’s leading renewable energy company, dedicated to powering a sustainable future. With a diversified portfolio of wind, solar and hydroelectric power projects, ReNew Power is at the forefront of India’s clean energy revolution, contributing significantly to the country’s renewable energy capacity.
Source: PTI
