Image Source: Free Press Journal
Waaree Renewable Technologies Ltd (WRTL), one of India’s leading solar EPC and module manufacturing companies, has bagged a major engineering, procurement, and construction (EPC) order worth ₹12.52 billion, further solidifying its position in the country’s fast-expanding renewable energy landscape. The order, awarded by a reputed domestic client, involves the development of a large-scale ground-mounted solar PV project and adds significant momentum to Waaree’s already robust order book.
Key Highlights
WRTL receives ₹12.52 billion EPC order for a utility-scale solar PV project
The project will be executed in phases, with commissioning expected by FY27
The scope includes design, supply, installation, and commissioning of solar modules and associated infrastructure
The order adds to Waaree’s cumulative unexecuted EPC pipeline, which now exceeds 3.2 GW
The company’s total order book has surged past ₹148 billion, reflecting strong demand and execution capability
The newly awarded project is expected to contribute meaningfully to Waaree’s revenue visibility over the next 18–24 months. It includes turnkey EPC services for a multi-megawatt solar installation, complete with transmission connectivity and grid integration. The client, though unnamed, is understood to be a large industrial group with aggressive decarbonization targets.
Waaree’s execution will leverage its in-house manufacturing of high-efficiency solar modules, which ensures supply chain reliability and cost competitiveness. The company’s Chestnut Ridge facility in New York and its upcoming expansion in Vietnam also position it for global scalability.
This order follows a series of recent wins, including a 300 MW AC solar project and a 100 MWp MoU in Vietnam, indicating Waaree’s growing international footprint. The company has also reported stellar financials, with Q1 FY26 revenue at ₹603.19 crore and PAT of ₹86.39 crore, up 72% year-on-year.
Industry analysts view Waaree’s latest order as a strategic win amid rising competition in India’s solar EPC space. With the government targeting 500 GW of non-fossil fuel capacity by 2030, players like Waaree are well-positioned to capitalize on policy tailwinds, corporate sustainability mandates, and global energy transitions.
The company’s stock has responded positively to the announcement, reflecting investor confidence in its execution strength and earnings trajectory. Waaree’s consistent order inflow and disciplined cost management continue to drive margin expansion and shareholder value.
Sources: EquityRight – Waaree Order Book Update, Waaree Renewable Technologies Press Releases
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