Synopsis: Waaree Renewables Technologies Limited has received a Rs. 30.91 crore enhancement in the scope of its existing EPC contract for a 980 MWp/700 MWac solar power project. Following the revision, the total contract value has increased to Rs. 1,044.69 crore, further strengthening the company’s revenue visibility.
Shares of Waaree Renewables Technologies Limited are likely to remain in focus after the company announced an enhancement in the scope of work under its existing Engineering, Procurement and Construction (EPC) contract for a large-scale solar power project.
Waaree Renewables Technologies Limited has a total market capitalization of approximately Rs.10,256.67 crore. The company’s shares were trading at Rs. 983 apiece on the stock exchange, up by 1.16 percent during the session. The stock has gained 6.45 percent over the last five trading sessions and gained 5.17 percent over the last month. The stock touched a 52-week high of Rs. 1358 and a 52-week low of Rs. 779.50.
According to the company’s regulatory filing, the scope of its existing EPC contract has been enhanced by Rs. 30.91 crore, taking the total order value to Rs. 1,044.69 crore, inclusive of taxes. The project involves the execution of Engineering, Procurement and Construction works for a 980 MWp / 700 MWac solar power plant.
The company stated that all other terms and conditions of the contract remain unchanged. The order has been awarded by one of India’s leading renewable energy companies, although the customer’s identity has not been disclosed. The execution timeline will be mutually decided by both parties.
The latest enhancement further strengthens Waaree Renewables’ already robust order book and provides greater revenue visibility over the coming quarters. Scope enhancements under existing EPC contracts generally indicate additional customer requirements and reflect confidence in the contractor’s execution capabilities.
The project is strategically significant given its scale. With a capacity of 980 MWp, it ranks among the larger utility-scale solar EPC projects in India and aligns with the country’s aggressive renewable energy expansion plans. India has set a target of achieving 500 GW of non-fossil fuel electricity capacity by 2030, creating substantial opportunities for EPC companies involved in solar infrastructure development.
For investors, the increase in contract value is meaningful as it boosts the overall project revenue without altering the existing contractual framework. Large EPC companies with proven execution capabilities continue to benefit from rising investments in utility-scale solar projects as government agencies and private developers accelerate renewable energy deployment.
Waaree Renewables also benefits from being part of the broader Waaree Group ecosystem. Its parent, Waaree Energies Limited, is India’s largest solar module manufacturer with 12 GW of installed module manufacturing capacity across facilities in Chikhli, Surat and Umbergaon in Gujarat. The integrated manufacturing ecosystem provides operational advantages in executing large renewable energy projects.
Incorporated in 1999, Waaree Renewables Technologies Limited is engaged in the generation of power through renewable energy sources and provides consultancy and EPC services for renewable energy projects. The company has established a strong presence in India’s rapidly growing solar EPC market through utility-scale and commercial & industrial renewable energy projects.
The enhancement of the EPC contract to Rs. 1,044.69 crore reinforces Waaree Renewables’ strong project pipeline and positions the company to benefit from India’s accelerating transition towards clean energy infrastructure.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
