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Waaree Renewable Technologies Bags Rs156 Crore EPC Contract for 150 MW Solar Project

Waaree Renewable Technologies (Waaree RTL) has announced that it has secured an engineering, procurement, and construction (EPC) contract worth Rs 156.66 crore for a 150 MWac / 217.5 MWp ground-mounted solar power project. The project is targeted for completion during the financial year 2026–27.

According to the company’s regulatory filing, it has received a Letter of Award (LoA) for executing the EPC works of the large-scale ground-mounted solar project.

This development follows a series of major project wins for Waaree RTL in recent months. In September 2025, the company secured a significant EPC order worth Rs 1,252.43 crore from Waaree Forever Energies for an 870 MWac / 1,218 MWp grid-connected solar project. The scope of that project includes substation construction, transmission line setup, and two years of operations and maintenance (O&M) services.

Earlier, in July 2025, Waaree Renewable Technologies received a Rs 26.17 crore EPC order for a 21 MWac / 29.4 MWdc ground-mounted solar power project under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0 scheme.

In June 2025, the company was awarded another EPC project worth Rs 346.33 crore to develop 300 MWac / 435 MWdc of ground-mounted solar installations. A month earlier, in May 2025, it bagged a 94 MWac / 131.6 MWdc solar EPC order valued at Rs 114.23 crore from a renewable energy generation company, also under the MSKVY 2.0 initiative.

As of now, Waaree RTL’s unexecuted order book stands at approximately 3.15 GWp, expected to be delivered over the next 12 to 15 months. Additionally, the company maintains a robust bidding pipeline of around 25 GWp.

Highlighting the company’s diversification strategy, Manmohan Sharma, CFO of Waaree Renewable Technologies, stated, “In response to the evolving energy landscape, we have expanded our portfolio to include Battery Energy Storage System (BESS) EPC solutions, reinforcing our position as a comprehensive clean energy provider. With a strong order book of 3.15 GWp in solar EPC and 40 MWh in BESS EPC, we are well-equipped to deliver large-scale, next-generation energy projects.”

In the first quarter of FY26, Waaree RTL reported a revenue of Rs 603.19 crore, a significant rise from Rs 236.35 crore in Q1 FY25 — marking a growth of 155.20%. The company’s profit after tax (PAT) also surged by 206.77%, reaching Rs 86.39 crore compared to Rs 28.16 crore a year earlier.

For the full financial year FY25, the company achieved a revenue of Rs 1,597.75 crore, up by 82.29% year-on-year from Rs 876.50 crore in FY24. Its PAT increased by 57.64%, reaching Rs 228.92 crore compared to Rs 145.22 crore in the previous fiscal year.