Mumbai, June 23, 2025:
Waaree Renewable Technologies Limited (BSE: 534618 | NSE: WAAREERTL), a subsidiary of Waaree Energies Limited, has taken a significant step in its international expansion strategy. The company has officially signed a non-binding Memorandum of Understanding (MoU) with Viet Khanh Joint Stock Company, a Vietnam-based energy entity, to execute a 100 MWp solar power project on a turnkey Engineering, Procurement, and Construction (EPC) basis.

The MoU was signed on June 20, 2025, at 6:00 p.m. IST, and was disclosed today to the stock exchanges in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with SEBI’s circular issued on July 13, 2023.

Project Details at a Glance

Strategic Significance

This MoU strengthens Waaree Renewable’s global footprint, particularly in Southeast Asia, where countries like Vietnam are aggressively pushing for renewable energy adoption. While the financials and execution timeline are yet to be finalized, the move demonstrates Waaree’s ambitions to be a global solar EPC leader.

Waaree will provide a complete turnkey solution, including:

• Design & Engineering

• Procurement of key components

• Construction and Commissioning

• Project Handover

This model helps reduce the project development burden on clients and ensures faster execution.

About Waaree Renewable Technologies Limited

Waaree Renewable Technologies Limited, headquartered in Mumbai, India, is a leading EPC services provider for solar energy projects. It is a subsidiary of Waaree Energies Limited, one of India’s top-tier solar PV module manufacturers and clean energy providers.

Waaree has a strong reputation for delivering utility-scale solar projects across India and is now building a significant presence in international solar markets.

Website: www.waareertl.com
Email: info@waareertl.com
Phone: +91 22 6644 4444

No Related Party Involvement

The company has clarified that neither the promoters nor any promoter group entities have any interest in Viet Khanh JSC, and the transaction does not constitute a related party deal. This ensures full compliance with SEBI norms and maintains transaction transparency.

Market Outlook

This development is likely to positively influence investor sentiment, especially as solar EPC companies eye new growth in the Asia-Pacific renewable energy market. Investors may watch for the signing of the definitive agreement in the coming weeks, which will clarify financial terms and project execution timelines.

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