Waaree Renewable wins 124 MWp solar EPC order for FY27 execution
Waaree Renewable Technologies Limited, a subsidiary of Waaree Energies Limited, has received a Letter of Award (LoA) for the engineering, procurement and construction (EPC) of a 124 MWp (88 MWac) ground-mounted solar photovoltaic (PV) project. The project is scheduled for completion during FY 2026-27.
The order has been awarded by a domestic renewable energy solutions company. Waaree Renewable Technologies said the contract does not constitute a related-party transaction and that the promoter, promoter group and group companies have no interest in the awarding entity.
Recent orders
The new contract follows a 210 MWp (150 MWac) turnkey EPC order secured last week from Solaris Horizon Energy Private Limited (SHEPL). That project also includes two years of operation and maintenance services and is scheduled for completion during FY 2027-28.
The latest award further expands Waaree Renewable Technologies’ solar EPC pipeline as the company continues to add utility-scale projects.
Q1 performance
Waaree Renewable Technologies reported consolidated revenue from operations of Rs 924.25 crore for Q1 FY27, up 53.23% from Rs 603.19 crore in Q1 FY26.
Consolidated EBITDA increased 47.58% year-on-year to Rs 173.48 crore from Rs 117.55 crore, with an EBITDA margin of 18.77%. Profit after tax rose 37.70% to Rs 118.97 crore from Rs 86.40 crore, while the PAT margin stood at 12.87%.
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