New Delhi: Waaree Renewable Technologies Limited (WRTL), a subsidiary of Waaree Energies, has signed a non-binding Memorandum of Understanding (MoU) with Viet Khanh Joint Stock Company for the execution of a 100 MWp photovoltaic solar power project in Ea Mdrod commune, Vietnam. The MoU, signed on June 20, covers end-to-end engineering, procurement and construction (EPC) work on a turnkey basis, said a statement on Monday.
“This strategic alliance marks a major milestone in cross-border clean energy collaboration between India and Vietnam,” the company said. The deal also reaffirms a longstanding business relationship between Waaree and Viet Khanh, following their earlier partnership on a 49.5 MW solar project commissioned in Cam Ranh province in 2019.
That earlier project, Waaree said, has remained “one of the highest performing solar installations in Vietnam till date.” The latest collaboration will involve the full scope of plant design, engineering, construction, testing and successful grid integration.
Commenting on the deal, Dinh Xuan Hai Sang, Chairman of Viet Khanh Joint Stock Company, said, “This unmatched performance and professionalism form the foundation of our renewed trust. We are pleased to extend our collaboration with Waaree for this upcoming 100 MWp project and look forward to building one of the most efficient clean energy assets in the region.”
As of now, the MoU is non-binding and does not specify a contract value. Waaree said these terms would be determined at a later stage through a definitive agreement between the parties. The company also clarified that the transaction does not involve any related party and is entirely international in nature.
Once operational, the solar plant is expected to offset over 130,000 metric tons of CO₂ emissions annually — equivalent to planting more than 2 million trees each year, Waaree said.
“We are honored to deepen our partnership with Viet Khanh through this landmark 100 MWp solar project,” said Viren Doshi, Executive Director, Waaree Renewable Technologies Ltd. “This collaboration reflects Waaree Group’s strong reputation in delivering high-performance, bankable solar infrastructure globally. Our commitment to quality, sustainability, and energy transition aligns perfectly with Vietnam’s national energy vision.”
The 100 MWp project builds on Waaree’s earlier experience in Vietnam, where the company executed a 49.5 MWp plant in Cam Ranh and secured a 60 MW EPC contract in Khanh Hoa province. These ventures have positioned Waaree as one of the early Indian solar firms to establish a footprint in Southeast Asia. The company continues to see Vietnam as a strategic international market amid a growing order book both domestically and abroad.
