Synopsis: Waaree Renewables Technologies Limited has secured two Letters of Award for executing 800 MWac / 1,082 MWp of solar EPC projects from one of India’s leading renewable energy companies. The large-scale order strengthens the company’s execution pipeline, enhances long-term revenue visibility and reinforces its position among India’s leading solar EPC players.
Shares of Waaree Renewables Technologies Limited are likely to remain in focus after the company announced that it has received two Letters of Award (LoAs) for the execution of Engineering, Procurement and Construction (EPC) works for two large ground-mounted solar photovoltaic (PV) plants with a combined capacity of 800 MWac / 1,082 MWp.
Waaree Renewables Technologies Limited has a total market capitalization of approximately Rs. 9735 crore. The company’s shares were trading at Rs. 933.20 apiece on the stock exchange, up by 0.13 percent. The stock has declined 8.29 percent over the last five trading sessions and declined 7.94 percent over the past month. The stock touched a 52-week high of Rs. 1358 and a 52-week low of Rs. 779.50.
What is the latest order?
According to the company’s exchange filing, Waaree Renewables has received two EPC contracts from one of India’s leading renewable energy companies for the construction of two ground-mounted Solar PV plants. The first project has a capacity of 400 MWac / 530 MWp, while the second project comprises 400 MWac / 552 MWp, taking the combined capacity to 800 MWac / 1,082 MWp. The projects are scheduled to be completed during FY28, as per the terms of the contracts. The company also confirmed that the orders are domestic in nature and do not involve any related-party transactions.
Crossing the 1 GW mark in a single order announcement is a significant milestone for Waaree Renewables. Utility-scale projects of this size provide multi-year execution visibility and strengthen the company’s EPC order book, ensuring a stable pipeline of work over the coming years.
Large EPC contracts also improve capacity utilisation, enhance economies of scale and strengthen relationships with leading renewable energy developers. Successful execution of such projects often leads to repeat business and improves the company’s competitive positioning in India’s rapidly expanding renewable energy market.
Strong tailwinds from India’s renewable energy push
India is targeting 500 GW of non-fossil fuel capacity by 2030, with solar energy expected to contribute a substantial share of this expansion. To achieve these targets, the country is witnessing record investments in utility-scale solar parks, transmission infrastructure and energy storage projects.
As one of India’s leading solar EPC companies, Waaree Renewables is well positioned to benefit from this structural growth. Rising demand for turnkey EPC services, coupled with increasing private and government investments in renewable energy, is expected to support a strong project pipeline over the long term.
Waaree Renewables also benefits from being part of the broader Waaree Group, one of India’s largest vertically integrated solar companies. The group’s integrated capabilities from manufacturing solar modules to executing EPC projects help improve supply chain reliability, reduce procurement risks and enhance project execution efficiency.
Waaree Energy currently operates India’s largest solar module manufacturing capacity of 12 GW across its facilities in Chikhli, Surat and Umbergaon, Gujarat, providing significant strategic advantages to the renewable ecosystem.
Incorporated in 1999, Waaree Renewables Technologies Limited is engaged in the generation of power through renewable energy sources and provides consultancy and Engineering, Procurement and Construction (EPC) services for solar power projects. The company is a subsidiary of Waaree Energies Limited, one of India’s largest vertically integrated new energy companies. Waaree Energy has India’s largest solar module manufacturing capacity of 12 GW, with manufacturing facilities located in Chikhli, Surat and Umbergaon in Gujarat.
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