Waaree Renewable Secures ₹740 Crore Solar EPC Order

Waaree Renewable Technologies Limited (WAAREERTL) has received a Letter of Award (LOA) for Engineering, Procurement, and Construction (EPC) works for a 125 MWAC (181.3 MWp DC) solar power project. The project, awarded by a leading power distribution company, will be executed by a consortium of three members, with Waaree Renewable as a key participant.

Project Details and Execution Timeline

• The order is valued at ₹740.06 crore (inclusive of taxes).
• The project will be developed under a turnkey EPC contract, including operation and maintenance services.
• It is a domestic project, reinforcing Waaree Renewable’s presence in India’s renewable energy sector.
• The execution timeline is 18 months from the date of signing the contract.
• The inter-consortium arrangement will be finalized soon to define each member’s role.

Strategic Impact on Waaree Renewable

The new high-value EPC contract strengthens Waaree Renewable’s position as a key player in India's solar energy sector. With the Indian government’s focus on expanding renewable capacity, the deal aligns with the country’s green energy transition goals.

• Financial Growth: The ₹740.06 crore order adds to the company’s growing order book.
• Market Position: Reinforces Waaree Renewable’s expertise in handling large-scale solar power projects.
• Industry Outlook: The Indian renewable energy sector is poised for rapid expansion, offering significant opportunities for EPC players.

No Related Party Transactions

Waaree Renewable Technologies clarified that:

• The promoter group has no interest in the awarding entity.
• The contract does not fall under related party transactions.

With strong project execution capabilities, Waaree Renewable continues to expand its footprint in India’s renewable energy space. The company's successful execution of this project could further boost investor confidence and drive future growth opportunities.

The Upcoming IPOs in this week and coming weeks are Paradeep Parivahan, Divine Hira Jewellers.

The Current active IPO are Super Iron Foundry, PDP Shipping & Projects.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.