Waaree Renewable Technologies Bags Rs 547.5 Crore Contract

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Solar-plant

Waaree Renewable Technologies Limited has secured a Letter of Award (LOA) to undertake an Engineering, Procurement, and Construction (EPC) project for a solar power plant. This project, granted by one of the leading utility companies in renewable energy worldwide, involves the establishment of a 412 MWp / 335 MWac solar power plant on a complete turnkey basis.

Waaree Renewable Technologies is one of the leading Indian manufacturers of solar energy solutions, offering a range of products and services in solar photovoltaic (PV) technology. Established in 1989, Waaree has emerged as one of the key players in the renewable energy sector, with a focus on solar panels, inverters, modules, and EPC (engineering, procurement, and construction) services for solar projects.

The company is committed to sustainability and innovation, driving the adoption of solar power across various industries and applications. With a strong emphasis on quality, reliability, and customer satisfaction, Waaree has established itself as a trusted partner for individuals, businesses, and governments seeking to harness the power of solar energy for a greener future.

The contract, valued at Rs. 547.5 crore, encompasses the entire scope of EPC work, coupled with Operations and Maintenance services for a period of two years following Handover Takeover, valued at Rs. 6.798 crore. This contract within the domestic realm represents an achievement for Waaree Renewable Technologies Limited, consolidating its standing within the renewable energy domain.

Scheduled for completion by December 31, 2024, in accordance with the terms outlined in the Letter of Award (LOA), this project reinforces the company’s commitment to advancing sustainable energy solutions. With this latest addition, the company’s backlog of unexecuted orders now totals an impressive 1.161GW, underscoring its robust project pipeline and promising growth within the renewable energy market.

The contract acquisition not only establishes Waaree Renewable Technologies Limited’s position in the domestic market but also demonstrates the company’s ability to provide comprehensive renewable energy solutions. This development is expected to have a good impact on the company’s financial performance and strengthen its competitive position in the renewable energy industry, so investors and stakeholders can expect positive consequences.

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