During a week marked by significant developments in the Indian clean energy sector, Hartek Power secured a major solar-plus-storage EPC contract while Waaree Energies won multi-gigawatt module orders spanning India and the US. Meanwhile, Kosol Energie committed nearly US$10 billion to renewable projects in Gujarat, and IREDA expanded its international footprint with a landmark loan to a 100MW solar project in Zambia.
Hartek Power wins US$38.8 million EPC contract for 280MW Karnataka solar-plus-storage project
Indian solar engineering, procurement and construction (EPC) firm Hartek Power has won an INR3.53 billion (US$38.8 million) contract from an undisclosed client.
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The project involves the installation of a 280MWac/411MWdc solar plant with a co-located 80MW/320MWh battery energy storage system in Challakere, Karnataka. Hartek’s scope of work includes design, engineering, supply, installation and commissioning, along with one year of operations and maintenance services.
Simarpreet Singh, CEO of Hartek Group, said the project highlights the growing maturity of India’s renewables market, with solar generation and storage increasingly deployed as an integrated solution.
The Mohali, Punjab-based company has connected more than 10GW of solar capacity to the grid. Recently, Hartek commissioned a 300MW/435MWdc solar park in Rajasthan in October for a global renewable energy independent power producer (IPP).
Waaree Energies bags 2.21GW module orders from India and US
Indian solar PV manufacturer Waaree Energies has secured two module supply contracts, including a 210MW order for domestically manufactured (DCR) solar modules from an unnamed Indian solar developer and a separate 2GW module order from a US-based utility-scale solar company.
Waaree said deliveries for the 210MW DCR modules are scheduled between 2026 and 2027, while the 2GW US order will be fulfilled over a longer timeframe from 2028 to 2030.
In December 2025, Waaree Energies expanded its domestic manufacturing footprint with an additional 1.5GW of solar module capacity at its Samakhiali plant in Kutch, Gujarat. Following the expansion, the company’s global module capacity stands at around 22.3GW, comprising 19.7GW in India and 2.6GW in the US, while solar cell capacity remains at 5.4GW.
The Mumbai-headquartered Waaree operates advanced PV manufacturing facilities and has a presence across India and more than 25 international markets.
Kosol Energie to invest US$9.8 billion in renewable projects in Gujarat
Kosol Energie has signed a memorandum of understanding (MoU) with the Government of Gujarat, committing to invest INR900 billion (US$9.8 billion) to develop solar PV module manufacturing facilities and establish dedicated research and development centres in the state.
In addition to solar manufacturing, the MoU also covers investments in solar power generation, green hydrogen and green ammonia projects, aligning with Gujarat’s broader clean energy and industrial development ambitions.
Kosol Energie has supplied more than 3GW of solar modules to domestic and international companies. Kosol has delivered around 2.5GW of projects across the utility and commercial and industrial (C&I) sectors and has deployed over 40,000 on-grid and off-grid solar systems. Its current project pipeline includes a 250MW solar plant for NLC India in Tamil Nadu, a 145MW project for Coal India, and 109MW of installations under India’s PM-KUSUM scheme, a flagship initiative by the Ministry of New and Renewable Energy (MNRE), to provide energy and water security to farmers.
IREDA sanctions $22.5M loan for 100MW Zambian solar project
Indian Renewable Energy Development Agency Limited (IREDA), a government-backed non-banking financial institution, has sanctioned a US$22.5 million loan to Zambian solar developer Swarna Solar to support the development of a 100MW photovoltaic power plant in the Serenje District of Zambia’s Central Province.
The financing, being extended through IREDA’s wholly owned subsidiary, IREDA Global Green Energy Finance, marks the agency’s first international loan to a company based outside India, signalling its entry into overseas renewable energy financing.
Pradip Kumar Das, chairman of IGGEFIL, described the loan sanction as a landmark for the organization, highlighting that its base in Gujarat International Finance Tec-City (GIFT City) provides access to competitive international capital.
Furthermore, he noted that the Zambian solar project aligns with India’s broader vision of maintaining a leadership role in international renewable energy initiatives.
Recently, IREDA sanctioned INR17.39 billion (US$197 million) in debt financing to Indian IPP Juniper Green Energy. The agency said the funding would support the execution of the company’s large-scale renewable energy project pipeline and help strengthen its operational capabilities.
