Waaree Renewable Technologies Signs 210MWp Solar EPC Deal

MUMBAI, India — Solar engineering and project execution firm Waaree Renewable Technologies Limited (Waaree RTL) announced that it has secured a turnkey Engineering, Procurement, and Construction (EPC) contract valued at approximately ₹1.56 billion (₹156.66 crore) for a 210 MWp (150 MWac) ground-mounted solar power project. The company received the Letter of Award (LoA) from a prominent domestic renewable power generation developer, according to a corporate disclosure submitted to Indian stock exchanges under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements. The contract win underscores sustained commercial momentum in utility-scale solar infrastructure as India expands its renewable energy capacity targets.

Technical Scope and Project Execution Timeline

The turnkey contract mandates Waaree RTL to handle complete end-to-end execution, including design engineering, equipment procurement, site installation, civil works, testing, and grid commissioning. The facility will feature an installed capacity of 150 MWac alternating current, with a peak DC rating of up to 217.5 MWp (210 MWp nominal capacity) using high-efficiency photovoltaic modules.

In accordance with the regulatory disclosure, project completion is scheduled during the 2026–27 financial year. Waaree RTL will deploy specialized civil engineering teams to manage land development, mounting structure installation, inverter station integration, and high-voltage transmission interconnects to connect the facility directly to the regional power grid.

Financial Impact and Order Book Expansion

The ₹1.56 billion contract award builds upon Waaree RTL's expanding unexecuted order book, which exceeds 3 GWp in utility-scale solar projects alongside emerging battery energy storage system (BESS) EPC assignments. Revenue generation from the project will accrue progressively across execution phases, providing revenue visibility over upcoming fiscal quarters.

Market analysts note that integrated EPC providers with direct tie-ups to parent module manufacturing entities benefit from streamlined supply chain access and reduced module delivery lead times. The contract victory builds on recent major wins for the group, including multi-megawatt EPC commitments under state utility schemes and commercial ground-mounted solar portfolios across India.

Renewable Sector Context and National Grid Impact

The award arrives amidst accelerated private and public sector investment in utility-scale renewable power across India. National climate targets aim to establish 500 GW of non-fossil power capacity, driving continuous demand for large-scale solar installations and power evacuation infrastructure.

Converting utility capacity into operational solar generation helps regional industrial hubs lower their carbon intensity, reduces reliance on thermal power generation, and stabilizes peak daytime power demand. Furthermore, large-scale field developments create local employment opportunities for skilled civil engineers, technicians, and specialized construction labor during the installation phase.

Official Sources Section

Details regarding the turnkey contract and execution timelines were verified through statutory communications:

• Securities and Exchange Board of India (SEBI) regulatory filings under Regulation 30 (LODR Regulations, 2015).

• BSE Limited and National Stock Exchange of India Limited (NSE) corporate disclosure submissions by Waaree Renewable Technologies Limited.

Official Statements and Commentary

"According to officials in corporate filings submitted to stock exchanges, Waaree Renewable Technologies Limited received the Letter of Award for turnkey execution of the 150 MWac/210 MWp ground-mounted solar power project from an independent renewable energy developer."

Company representatives confirmed in standard market submissions that the commercial order adheres to standard arm's-length transaction terms and does not fall under related-party transactions.

Why It Matters

The signing of the 210 MWp turnkey EPC contract carries practical implications for several sector stakeholders:

• Institutional Investors & Shareholders: Enhances revenue visibility and expands Waaree RTL's active execution pipeline within the clean energy capital goods segment.

• Grid Operators & Utilities: Adds 150 MWac of clean generation capacity to the regional power transmission network upon project commissioning.

• Industrial Energy Consumers: Supports broader decarbonization efforts and increases the overall availability of solar power within the national energy mix.

Key Facts at a Glance

• Contract Award: Waaree RTL secured a turnkey solar EPC project worth ₹1.56 billion (₹156.66 crore).

• Generation Capacity: Designed for 150 MWac power output with a peak rating of 210 MWp (217.5 MWp peak DC).

• Scope of Work: Complete engineering, equipment procurement, civil installation, and grid commissioning.

• Timeline: Scheduled for full completion during financial year 2026–27.

Frequently Asked Questions

What is the value of the solar EPC contract won by Waaree RTL?

Waaree Renewable Technologies Limited secured the turnkey solar EPC contract for approximately ₹1.56 billion (₹156.66 crore).

What is the power capacity of the new solar project?

The ground-mounted solar plant is rated at 150 MWac alternating current capacity and 210 MWp (217.5 MWp peak DC) direct current output.

When is the project expected to be completed?

According to regulatory filings, the project is scheduled to be completed within the 2026–27 financial year.

How was this contract win officially announced?

The order receipt was formally disclosed by Waaree Renewable Technologies Limited through corporate filings to the BSE and NSE under SEBI disclosure guidelines.

Source: BSE Corporate Disclosures, NSE Filings, SEBI Disclosures, Waaree Renewable Technologies Limited Official Filings.