Waaree Renewable wins orders for 800 MW ground-mounted solar projects

Mumbai: Waaree Renewable Technologies Ltd, a subsidiary of Waaree Energies Ltd, has secured two engineering, procurement and construction (EPC) contracts for ground-mounted solar photovoltaic (PV) projects with a combined capacity of 800 MWac (1,082 MWp), the company said in a regulatory filing.

The company said it has received two Letters of Award (LoAs) for the execution of two solar PV plants with capacities of 400 MWac/530 MWp and 400 MWac/552 MWp, respectively.

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"We wish to inform you that Waaree Renewable Technologies Limited... has received two Letters of Award for execution of Engineering, Procurement and Construction (EPC) works for two ground-mounted Solar PV plants of 400 MWac/530 MWp and 400 MWac/552 MWp respectively, aggregating 800 MWac/1,082 MWp," the company said in its stock exchange filing.

According to the filing, the contracts have been awarded by "one of India's leading Renewable Energy companies." However, the company did not disclose the name of the customer or the value of the contracts.

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The projects are domestic in nature and involve commercial EPC work for utility-scale, ground-mounted solar power plants, the filing said.

Waaree Renewable Technologies said the projects are scheduled to be completed during financial year 2027-28, in line with the terms of the awards.

The company also clarified that the order is not a related-party transaction and that neither its promoter nor its promoter group has any interest in the entity awarding the contracts.