Key Takeaways
- Waaree Renewable Technologies secures two EPC contracts for 800 MWac (1,082 MWp) solar projects.
- The contracts were awarded by a major Indian renewable energy company, though the customer’s name remains undisclosed.
- Projects are scheduled for completion in the financial year 2027-28 and are not related-party transactions.
Contract Details
Waaree Renewable Technologies Ltd, a subsidiary of Waaree Energies Ltd, has announced the successful acquisition of two engineering, procurement and construction (EPC) contracts for ground-mounted solar photovoltaic (PV) projects, totaling 800 MWac (1,082 MWp). This information was disclosed in a regulatory filing to the stock exchange.
The contracts consist of two solar PV plants, each with capacities of 400 MWac/530 MWp and 400 MWac/552 MWp, respectively. The company confirmed that it has received two Letters of Award (LoAs) for these projects.
While the recipient of the contracts is noted as a prominent player in India’s renewable energy sector, Waaree did not reveal the customer’s identity or the financial details of the contracts. The EPC work will be executed for utility-scale, ground-mounted solar power plants based within India.
Completion of these projects is slated for the financial year 2027-28, adhering to the terms outlined in the awards. Importantly, Waaree Renewable Technologies emphasized that this order is not a related-party transaction. There is no interest from the company’s promoter or promoter group in the awarding entity, ensuring transparency in its dealings.
This development highlights Waaree Renewable Technologies’ strategic expansion in the renewable energy market, reinforcing its commitment to sustainable energy solutions amid India’s growing demand for renewable resources. The firm continues to solidify its position as a leading EPC service provider in the solar energy sector.
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