Waaree Renewable Technologies Limited has secured a major Engineering, Procurement and Construction (EPC) contract for a solar power project, as disclosed under SEBI regulations. The company received the letter of award on December 30, 2025, strengthening its position in India's renewable energy sector.

Project Contract Details

The solar project encompasses significant capacity and represents a substantial EPC undertaking for the company:

EPC Scope and Execution Timeline

The contract involves comprehensive EPC execution of the ground mount solar power project on a turnkey basis. The project is scheduled for completion during FY 2026-27, providing a clear timeline for revenue recognition and project delivery.

Regulatory Compliance and Disclosure

The contract award was disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that no promoter or group companies have any interest in the entity awarding the contract, and the transaction does not fall within related party transactions.

Strategic Impact

This ₹96.51 crore contract represents a meaningful addition to Waaree Renewable Technologies' project pipeline. The dual capacity specification reflects industry standards for measuring solar installations in both AC and peak power terms, demonstrating the project's substantial scale in the competitive solar EPC market.

Waaree Renewable Technologies has formally disclosed a contract enhancement for its solar energy project, with the capacity being increased from 30 MWp to 35 MWp. The company received official intimation of this enhancement on December 29, 2025, and has filed the requisite regulatory disclosure under SEBI regulations.

Regulatory Disclosure and Timeline

The company has submitted its disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, updating its earlier intimation dated July 15, 2024. The enhancement pertains to the Engineering, Procurement, and Construction (EPC) works for a ground mount solar power project including Operation and Maintenance (O&M).

Contract Enhancement Details

The capacity expansion has resulted in a corresponding increase in the project's financial value. The following table outlines the key changes:

All terms and conditions of the original contract remain unchanged, with only the capacity and corresponding commercial value being enhanced.

Project Specifications and Client

The project involves developing a ground mount solar power project on a turnkey basis for one of the largest manufacturers of pig iron, castings, and seamless tubes. The enhanced project maintains its domestic nature and commercial order status.

Execution Timeline

Waaree Renewable Technologies has maintained the completion timeline for the expanded solar project, with the target set for FY 2026-27. The company confirmed that no promoter or group companies have any interest in the entity that awarded the contract, and the transaction does not fall within related party transactions.

Strategic Implications

The formal contract enhancement from 30 MWp to 35 MWp demonstrates strong client confidence in Waaree Renewable Technologies' execution capabilities. The additional 5 MWp capacity expansion indicates successful project development progress, leading to enhanced scope requirements from the client.