Make in India: Solar companies prepare IPOs

11 Aug 2021 CW Team

Solar panel manufacturers Vikram Solar and Waaree Energies have appointed investment banks for their respective initial public offerings (IPOs) as the firms look to develop business riding the drive for local manufacturing.

Both the firms, Vikram Solar and Waaree Energies, aim to raise about Rs 1,500 crore each.

Vikram Solar has hired JM Financial and has begun working on its IPO while Waaree Energies has hired Axis Capital and ICICI Securities for its IPO, one of the three people told the media. While both firms aim to raise capital to fund improving their manufacturing capacities, in the case of Vikram Solar, a substantial part of the profits will move towards decreasing its debt. Waaree Energies practically is debt-free currently.

There is a strong government push to increase domestic manufacturing of solar panels, given the huge capacities that India aims to establish in the coming years, and so far, there has been a huge dependence on imports of solar panels, notably from China. The government’s goals to bring in high duties on imports of cells and solar panels is a big boost for domestic manufacturers, the second person mentioned above said.

India is running the world’s largest clean energy programme to reach 175 GW of renewable capacity, comprising 100GW of solar power by 2022. As per the Central Electricity Authority, by 2030, the country’s power demand would reach 817 GW, more than half of which would be clean energy; of this, 280 GW would be from solar energy alone.

To accomplish the aim of 280 GW, about 25 GW of solar power capacity is required to be established every year till 2030.

Image Source

Also read: Lucknow Smart City floats tender for 8.5 MW rooftop solar systems

Also read: Mitsui to invest Rs 30 cr in biomass supply-chain firm in India

Infrastructure Transport

22 Sep 2025

NHAI Tightens Contractor Norms to Boost Highway Quality

The National Highways Authority of India (NHAI) has revised Request for Proposal (RFP) provisions to enhance the quality of highway projects, reduce delays, and lower lifecycle costs. The updates tighten contractor qualification norms, strengthen execution compliance, and increase financial transparency, the Ministry of Road Transport and Highways (MoRTH) said on Wednesday.The stricter RFP clauses will ensure that only technically capable and experienced contractors are eligible for national highway projects. RFPs formally invite bids from contractors, specifying project requirements, terms, a..

Imphal to Gain Rail Connectivity with Jiribam Line Soon

Indian Railways is advancing rapidly on the Jiribam–Imphal railway line, a landmark project set to bring train connectivity to Imphal, the capital of Manipur. The 110.625 km line falls under the administrative control of the Northeast Frontier Railway (NFR) zone.Following the recent completion of the Bairabi–Sairang rail project, which enabled services from Aizawl (Sairang), Imphal will soon join the national rail network. During his visit to Manipur on 13 September 2025, Prime Minister Narendra Modi affirmed that the government is investing Rs 22 billion in the project.Currently, a 55.36 ..

Adani to Double Colombo Terminal Capacity Ahead of Schedule

India’s Adani Group and its partners are set to double the capacity of the $840 million Colombo West International Terminal months ahead of schedule, despite relinquishing $553 million in U.S. funding, according to an executive at partner firm John Keells Holdings.The deepwater terminal, situated alongside a facility operated by China Merchants Port Holdings, highlights Sri Lanka’s strategic role in the contest for influence in the Indian Ocean between New Delhi and Beijing.The first phase of the fully automated terminal became operational in April 2025. The second and final phase is under..