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Waaree Renewable Technologies Secures Rs26.17 Cr Solar EPC Order Under MSKVY 2.0

Waaree Renewable Technologies Ltd (WAAREERTL), the EPC subsidiary of Waaree Group, has received a Letter of Award (LOA) worth Rs26.17 crore for a 21 MW AC / 29.4 MW DC solar power project under Maharashtra’s Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0). The project includes EPC and O&M services and is expected to be completed in FY 2025-26.

This marks the latest in a series of wins for the company. In June 2025, it secured a Rs346.33 crore EPC order for a 300 MW AC / 435 MW DC ground-mounted solar project. In May, it was awarded another project worth Rs114.23 crore for a 94 MW AC / 131.6 MW DC capacity also under MSKVY 2.0. It also signed an MoU with Viet Khanh JSC for a 100 MWp turnkey project in Vietnam.

Waaree’s unexecuted solar EPC order book now stands at 3.2 GWp, with a bidding pipeline of 30 GWp. The company has also expanded into Battery Energy Storage System (BESS) EPC, with 40 MWh in hand.

For FY25, WAAREERTL reported Rs1,597.75 crore in revenue (up 82.29% YoY) and a PAT of Rs228.92 crore (up 57.64% YoY), reflecting robust growth.