Waaree Renewable Technologies Secures ₹37.96 Crore EPC Contract for Solar Plant

Waaree Renewable Technologies Limited has finalized a significant Engineering, Procurement and Construction (EPC) agreement for developing a solar power facility in Uttar Pradesh. The company disclosed this development through a regulatory filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Project Specifications and Contract Details

The EPC contract involves the development of a ground mount solar photovoltaic plant with a capacity of 10 MWac/14 MWp on a turnkey basis. The project has been awarded by a domestic entity described as a manufacturer and supplier of industrial gases.

Parameter:	Details
Project Capacity:	10 MWac/14 MWp
Contract Value:	₹37.96 crores (excluding taxes)
Project Type:	Ground Mount Solar PV Plant
Location:	Uttar Pradesh
Execution Basis:	Turnkey

Timeline and Commercial Terms

The commercial order is scheduled for completion during the financial year 2026-27, as per the terms specified in the contract. The company received intimation of this order on January 19, 2026, at 05:08 p.m. (IST).

Commercial Aspect:	Details
Order Nature:	Commercial Order
Client Type:	Domestic Entity
Completion Timeline:	Financial Year 2026-27
Order Intimation Date:	January 19, 2026

Regulatory Compliance and Transparency

The company has confirmed that this contract does not involve any related party transactions and that promoters or group companies have no interest in the entity that awarded the order. The disclosure was made in compliance with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Company Background

Waaree Renewable Technologies Limited operates as a subsidiary of Waaree Energies Limited and is headquartered in Mumbai, Maharashtra. The company specializes in renewable energy solutions and EPC services for solar power projects across India.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.42%	+1.83%	-3.88%	-24.41%	+6.16%	+6.16%

Waaree Renewable Technologies has significantly expanded its business outlook, announcing pursuit of a massive 29 gigawatt order pipeline while maintaining its commitment to profitability targets. The company continues to demonstrate strong operational capabilities with its existing order book execution alongside ambitious expansion plans for the upcoming financial year.

Massive Pipeline Expansion

The company is now pursuing an unprecedented 29 gigawatt order pipeline, representing a substantial increase from its current secured order book. This pipeline includes 5-6 gigawatts of active tenders currently under consideration, along with several Battery Energy Storage System projects that diversify the company's renewable energy portfolio.

Pipeline Parameter:	Details
Total Pipeline Pursuit:	29 Gigawatts
Active Tenders:	5-6 Gigawatts
Project Types:	Solar + BESS Projects

New IPP Projects and Investment Plans

Waaree Renewable Technologies has outlined specific plans for Independent Power Producer projects totaling 120 megawatts scheduled for the next financial year. The company estimates the investment cost for these IPP projects at INR 3.00-3.50 crore per megawatt, translating to a total investment requirement of approximately INR 360-420 crores for the entire 120 megawatt capacity.

IPP Project Details:	Specifications
Total IPP Capacity:	120 Megawatts
Timeline:	Next Financial Year
Cost Per MW:	INR 3.00-3.50 Crore
Total Investment:	INR 360-420 Crores

Current Order Book Execution

Alongside these expansion plans, the company continues to execute its existing secured order book of 2.9 gigawatts within the planned timeline of 12-15 months. The company maintains its target EBITDA margin above 15.00%, demonstrating disciplined financial management while pursuing aggressive growth opportunities.

Current Operations:	Status
Secured Order Book:	2.9 Gigawatts
Execution Timeline:	12-15 months
Target EBITDA Margin:	Above 15.00%

Strategic Growth Trajectory

The combination of a 29 gigawatt pipeline pursuit, active tender participation, and planned IPP projects positions Waaree Renewable Technologies for substantial growth in the renewable energy sector. The company's approach of maintaining profitability targets while pursuing large-scale expansion demonstrates a balanced strategy for sustainable business development in the competitive renewable energy market.