Waaree Renewable Technologies Limited has secured Letters of Award for two ground-mounted Solar PV plants, aggregating to a total capacity of 800 MWac / 1,082 MWp. The company received the awards on July 25, 2026, marking a significant addition to its order book in the renewable energy sector. These contracts represent substantial engineering, procurement, and construction (EPC) work, reinforcing the firm's position in India's expanding solar infrastructure market.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026. The company notified the stock exchanges on July 26, 2026, confirming receipt of the intimation at 12:15 pm IST the previous day. The orders were awarded by one of India's leading renewable energy companies, identified as a domestic entity.

Contract Details

The two Letters of Award cover distinct plant capacities but share similar execution timelines and commercial terms. Both projects are classified as commercial orders within the domestic market. There is no promoter or group company interest in the entity that awarded the contracts, and the transactions do not fall under related party dealings.

Project Execution

The projects are scheduled to be completed during the financial year 2027-28, as per the terms outlined in the order documents. This timeline indicates a multi-year execution phase, requiring significant resource allocation and supply chain management from Waaree Renewable Technologies. The aggregation of 1,082 MWp peak capacity underscores the scale of the infrastructure development involved.

What the Numbers Show

The acquisition of an 800 MWac EPC contract represents a material volume commitment for the company. By securing two large-scale ground-mounted solar projects simultaneously, Waaree Renewable Technologies demonstrates its capacity to handle high-volume execution mandates. The absence of related-party interests confirms the competitive nature of these awards, validating the company's market standing against other EPC players in the renewable energy space.

waaree renewable technologies has set a target of achieving a 15% EBITDA margin for the current financial year, signaling a focus on improving operational profitability. Alongside this margin goal, the company is also considering the consolidation of its Transmission & Distribution (T&D) business as part of its broader strategic planning.

Order Book and Execution Pipeline

The company's consolidated unexecuted order book currently stands at INR 5,300 crores, with management indicating that these orders are expected to be executed over the next 12 to 18 months. The following table summarizes the key components of the company's order and project pipeline:

Solar EPC and T&D Business

Waaree Renewable is set to execute new projects alongside 27 GW of Solar EPC orders in India and 10 GW internationally. In addition to its solar EPC pipeline, the company also has INR 20,000 crores worth of T&D projects in its execution pipeline. The potential consolidation of the T&D business remains under management's consideration as the company evaluates its operational structure.

Expanding Into Data Center EPC

Beyond its existing solar and T&D segments, Waaree Renewable's management is actively seeking EPC opportunities in the data center sector. To support this strategic expansion, the company is in the process of adding staff dedicated to enhancing its capabilities in this segment. This move reflects the company's intent to diversify its EPC portfolio beyond traditional renewable energy infrastructure.