Waaree Renewable secures Rs 1,252 crore 870 MWac solar project

Waaree Renewable Technologies Limited (WAAREERTL), a subsidiary of Waaree Energies Limited, has received a Letter of Award (LOA) from Waaree Forever Energies Private Limited (WFEPL) for the execution of an 870 megawatt alternating current (MWac) or 1,218 megawatt peak (MWp) ground-mounted solar power project.

The scope of work includes engineering, procurement, and construction (EPC) of the project, along with development of a 33 kilovolt (kV) to 400 kV substation and associated transmission lines. WAAREERTL will also provide two years of operation and maintenance (O&M) services.

According to the company’s disclosure, the order is valued at approximately Rs 1,252.43 crore, excluding taxes. The project is scheduled for completion in the financial year 2026-27, subject to statutory approvals.

The order has been awarded by WFEPL, which is a subsidiary of Waaree Energies Limited, making it a related-party transaction executed at arm’s length.