Waaree Renewable Technologies Ltd, a provider of solar energy solutions, announced on March 11 that it has secured a Letter of Award (LOA) for an Engineering, Procurement, and Construction (EPC) contract for a 125 MWAC (181.3 MWp DC) solar project. The project is being developed as part of a consortium of three members, with Waaree Renewable Technologies playing a key role.
“We are excited to announce that a consortium, with Waaree Renewable Technologies Ltd (WAAREERTL) as a key member, has been awarded a Letter of Award (LOA) for an Engineering, Procurement, and Construction (EPC) contract. This contract covers the development of a 125 MWAC (181.3 MWp DC) solar power project on a turnkey basis, including Operation and Maintenance services”, the company disclosed in a stock exchange filing.
The project, valued at approximately ₹740.06 crore (inclusive of taxes), was awarded by a leading power distribution company. Details regarding the internal arrangement within the consortium members will be finalized in due course. The project is expected to be completed within 18 months from the signing of the contract.
In a separate announcement last year, Waaree Renewable Technologies revealed that it had received a “term sheet” for the EPC of a 2012.47 MWp DC ground-mounted solar PV project. This large-scale renewable energy project, valued at around ₹12,33.5 crore (excluding taxes), will involve the development and execution of solar infrastructure, with the project completion timeline to be decided mutually by the parties involved.
Waaree Renewable Technologies Ltd, a subsidiary of Waaree Group, leads the company’s Solar EPC business. The group has installed over 10,000 solar projects, with a total capacity exceeding 1.82 GW. Waaree is also a developer of solar energy, financing, constructing, owning, and operating solar projects. Based in Mumbai, Waaree operates across multiple regions, focusing on long-term investments within the commercial and industrial segments.
The company is committed to providing clean energy solutions through both on-site solar systems (rooftop and ground-mounted) and off-site solar farms (open access solar plants). Waaree Group encourages individuals, industries, and commercial entities to adopt energy solutions that reduce carbon emissions.
