Waaree Renewable Technologies Expands Ground-Mounted Solar Project to 35 MWp

BY ADMIN • FILED 30 Dec 2025, 12:14 PM

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.