Waa Solar bags Rs 225 crore solar contract in Madhya Pradesh

Waa Solar Limited has announced that it has received a major Letter of Award (LOA) from M.P. Urja Vikas Nigam Limited (MPUVNL) for developing grid-connected solar power plants. The information was disclosed through a regulatory filing, stating that the project is valued at around Rs 225 crore and has been awarded by a state-owned power utility.

According to the filing made under Regulation 30 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015, the LOA was communicated in a letter dated 29 December 2025. The company stated that the work relates to the “Implementation of Grid Connected Solar PV-based Power Plants (SPP) under Surya Mitra Krishi Feeders Scheme with feeder solarisation component of PM KUSUM-C Scheme for sale of power to MPPMCL”.

The PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) scheme focuses on supporting agricultural power supply through solarisation. Waa Solar clarified that the contract is domestic in nature and is required to be completed within 18 months from the date of signing the Power Purchase Agreement (PPA). The filing further confirmed that this is not a related-party transaction and that promoters of the company have no interest in MPUVNL. The disclosure is also available on the company’s website.

The contract underscores the continued implementation of the PM-KUSUM initiative to expand renewable capacity while supporting agricultural electricity supply, alongside ongoing project allocations to private developers through state agencies.

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