Waaree Energies Ltd Wins Major Contract for Green Hydrogen Production in India
Key Ideas
  • Waaree Energies' shares surged 2.83% to ₹2,460.40 after securing a contract to develop a 90,000 MT per annum green hydrogen facility.
  • The project aligns with India's aim to lead in green hydrogen production, showcasing the company's commitment to renewable energy expansion.
  • Waaree Clean Energy Solutions Private Limited, a subsidiary of Waaree Energies, will oversee the development under SECI's SIGHT Scheme.
  • The company emphasizes transparency and stakeholder engagement, promising regular project updates on its website.
Shares of Waaree Energies Ltd saw a significant increase of 2.83% to reach ₹2,460.40 following the announcement of a major contract win. The company secured a project under SECI's SIGHT Scheme to develop a green hydrogen production facility with a capacity of 90,000 MT per annum, in line with India's green hydrogen production goals. The contracting entity for this project is Waaree Clean Energy Solutions Private Limited, a wholly-owned subsidiary of Waaree Energies Ltd. This achievement showcases Waaree Energies' dedication to expanding renewable energy and fostering technological innovation. They have pledged to maintain transparency and engage stakeholders by providing regular updates on the project's progress through their website. As a disclaimer, it is important to note that the information shared is for informational purposes and not investment advice. Potential investors are advised to conduct their own research or seek guidance from a financial advisor before making any investment decisions due to the inherent risks associated with the stock market.
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