Waaree Renewable Technologies Limited has secured a Letter of Award (LoA) for executing engineering, procurement and construction (EPC) works for a 450 MWp solar power project in India. The order has been awarded by a prominent domestic entity operating as an Independent Power Producer (IPP), strengthening the company’s presence in the country’s growing renewable energy sector.
Under the contract, Waaree Renewable Technologies will undertake comprehensive EPC activities for the solar power project, covering the key stages required for its development and implementation. The project represents a significant addition to the company’s portfolio of large-scale solar installations and reflects continued demand for renewable energy infrastructure across India.
According to the company’s announcement, the project is scheduled for completion during the financial year 2027–28. With a capacity of 450 MWp, the installation will contribute to the expansion of solar power generation capacity and support the broader development of clean energy infrastructure in the country.
The award comes amid India’s continued efforts to increase renewable energy deployment and expand its solar power capacity. Independent Power Producers play an important role in this transition by developing and operating renewable energy projects that supply electricity to utilities and other consumers. EPC contractors support these developments by managing project engineering, equipment procurement and construction activities.
For Waaree Renewable Technologies, the latest order reinforces its role in the execution of utility-scale solar projects. The company’s involvement in large-capacity installations aligns with the growing requirement for project development and implementation capabilities as India continues to expand its renewable energy portfolio.
The company has also clarified the relationship between the awarding entity and its promoter group. According to the disclosure, the entity awarding the contract has no interest or connection with the company’s promoters, promoter group or group companies. Accordingly, the order does not qualify as a related-party transaction and is being undertaken on an arm’s-length basis.
The disclosure provides clarity regarding the commercial nature of the agreement and confirms that the contract has been awarded independently of any relationship with the company’s promoters or associated entities.
The 450 MWp project adds to Waaree Renewable Technologies’ business opportunities in India’s solar EPC market. Its scheduled completion in FY2027–28 will mark the next phase of project execution, while the contract further highlights the continuing role of domestic renewable energy companies in delivering large-scale solar power infrastructure.
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