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 recently made significant announcements regarding its financial results and board composition. The company's Board of Directors convened at their registered office to discuss and approve several important matters.

Financial Results Approval

The board has approved the unaudited standalone and consolidated financial results for the half year ended September 30, 2025. These results were accompanied by limited review reports, ensuring a level of scrutiny over the financial statements. While specific financial figures were not disclosed in the announcement, the approval of these results indicates the company's commitment to financial transparency and regulatory compliance.

New Independent Director Appointment

In a move that could potentially strengthen the company's governance structure, the board has approved the appointment of Mr. Prashant Kumar Gupta as an Independent Director. Here are the key details of this appointment:

The appointment of Mr. Gupta as an Independent Director for a five-year term signals Waa Solar's focus on maintaining a robust and diverse board composition. Independent directors play a crucial role in providing unbiased perspectives and enhancing corporate governance practices.

Additional Board Actions

The board meeting, which was held at the company's registered office, concluded with the approval of other routine business matters. While the specifics of these routine approvals were not detailed in the announcement, they typically include administrative and operational decisions necessary for the smooth functioning of the company.

Waa Solar Limited's recent board meeting demonstrates the company's adherence to corporate governance norms and its commitment to keeping shareholders informed about significant developments. As the solar energy sector continues to evolve, such transparency and strategic appointments may prove crucial for the company's long-term growth and stakeholder confidence.