Waaree Renewable Technologies Limited (WAAREERTL) has announced an expansion of its ongoing ground-mounted solar power project, strengthening its position in India’s growing renewable energy sector. The update was officially disclosed on December 30, 2025, and relates to a contract that was originally announced in July 2024.
Project Scope and Execution Model
The solar project is being executed on a turnkey basis, meaning Waaree Renewable Technologies is responsible for the entire lifecycle of the project. This includes Engineering, Procurement, and Construction (EPC), along with long-term Operation and Maintenance (O&M) services.
Capacity Upgrade Details
Initially planned at 30 MWp, the project capacity has now been increased to 35 MWp. This enhancement reflects the client’s growing power requirements and confidence in Waaree’s execution capabilities.
Revised Order Value
With the increase in capacity, the commercial value of the order has also been revised upward. The project value has risen from ₹90.29 crore to ₹102.93 crore (excluding taxes), marking an additional ₹12.64 crore in order value for the company.
About the Client
The contract has been awarded by a domestic industrial entity, recognized as one of India’s leading manufacturers of pig iron, castings, and seamless tubes. This highlights strong demand for renewable energy solutions from large energy-intensive industries.
Project Timeline
The expanded solar power project is scheduled to be completed during the financial year 2026–27, aligning with long-term renewable energy adoption plans of the client.
Regulatory Disclosure and Governance
Waaree Renewable Technologies made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also clarified that the project does not involve any promoter group interest and does not qualify as a related party transaction, ensuring full transparency and corporate governance compliance.