Waa Solar Limited has officially received the Letter of Award (LOA) from M.P. Urja Vikas Nigam Limited (MPUVNL) for a major solar power project worth approximately ₹225.00 crores. The company announced this development through a regulatory filing under SEBI Regulation 30, confirming the formal award of multiple contracts for grid-connected solar photovoltaic power plants.

Project Specifications

The awarded project involves the "Implementation of Grid Connected Solar PV based Power Plants (SPP) under Surya Mitra Krishi Feeders Scheme with feeder solarization component of PM KUSUM-C Scheme for sale of power to MPPMCL." This comprehensive project represents a significant opportunity in India's agricultural solar power segment, combining feeder solarization with power generation for the state grid.

Contract Details and Timeline

The project falls under the domestic contract category, awarded by MPUVNL, a Government of Madhya Pradesh enterprise. The execution timeline is set at 18 months from the date of Power Purchase Agreement (PPA) signing, providing a clear roadmap for project completion. The contract does not involve any related-party transactions, and the company's promoters have no interest in the awarding entity.

Strategic Significance

This contract award is particularly significant given Waa Solar's current market capitalization of ₹72.79 crores. The project value of ₹225.00 crores represents more than three times the company's market cap, demonstrating substantial revenue potential and the company's capability to secure large-scale government projects in the renewable energy sector.

Regulatory Compliance

The announcement was made in compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, reflecting the company's commitment to transparent corporate governance. Company Secretary Mansi Heda signed the regulatory filing, ensuring proper documentation and stakeholder communication of this major business development.

This contract marks a significant business expansion for Waa Solar Limited, positioning the company for growth in the solar energy sector.

WAA Solar Limited , a key player in the solar energy sector, has issued a postal ballot notice seeking shareholder approval for the regularization of its recently appointed Independent Director. The company continues to strengthen its governance framework through strategic board appointments and transparent shareholder engagement.

Postal Ballot Notice and E-Voting Process

The company has issued a postal ballot notice dated January 19, 2026, under Regulation 30 of SEBI Listing Regulations, seeking member approval for regularization of Mr. Prashant Kumar Gupta's appointment as Non-Executive Independent Director. The key details of the postal ballot process are outlined below:

Director Appointment Details

The postal ballot seeks approval for regularization of Mr. Prashant Kumar Gupta's appointment, who was initially appointed by the Board of Directors. The appointment particulars are presented below:

Professional Background and Expertise

Mr. Prashant Kumar Gupta brings significant financial and compliance expertise to the board. His professional profile demonstrates relevant experience for the Independent Director role:

Scrutinizer and Compliance Framework

WAA Solar has appointed Mr. Haresh Kapuriya, Practicing Company Secretary and Partner of M/s. K H and Associates, as the Scrutinizer for conducting the postal ballot process. The company has engaged NSDL to facilitate remote e-voting, ensuring members can cast their votes electronically instead of physical postal ballot forms.

The postal ballot notice has been sent electronically to all eligible members whose email addresses are registered with the depositories (NSDL and CDSL) and the company's Registrar and Transfer Agent, Bigshare Services Private Limited. The results will be announced within two working days from the end of the e-voting period and will be communicated to BSE Limited and published on the company's website.

This governance initiative reflects WAA Solar's commitment to maintaining transparent board composition and ensuring proper regulatory compliance in the appointment of Independent Directors.