Assam Pulls Plug on Solar Project; Waaree RTL Contract Impacted

In the wake of the Assam government's withdrawal from its proposed solar project, the EPC contract awarded to Waaree Renewable has now come to a halt. The EPC arm of the Waaree Group informed the stock exchange about the latest development through a regulatory filing.

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The Assam solar project was suspended due to funding-related issues that allegedly made the project unviable for the state government. Explaining the situation, Waaree RTL stated: The Government of Assam has withdrawn the project from funding through the ADB loan. In light of this decision, APDCL has resolved that it is no longer feasible to pursue the said solar project, and hence all work allotted to the parties for implementation of the project stands terminated.”

Project Through A Consortium 

The company had earlier secured the contract as part of a consortium of three firms. “With reference to our earlier intimation dated March 11, 2025, we wish to inform you that the Company has received a cancellation of the Letter of Award for Engineering, Procurement, and Construction (EPC) works of a 125 MWAC (181.3 MWp DC) solar power project on a turnkey basis, along with Operation and Maintenance. This project was awarded to a consortium in which WAAREE RTL is a member,” the company said in its filing.

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Order Cancellations 

Such order cancellations are not uncommon in the EPC and renewable energy sectors. Often, project feasibility issues from the issuer’s side or other unforeseen factors can lead to contract terminations. In recent instances, wind energy manufacturers have also reported cancellations of orders due to project suspensions after contracts were awarded. Similarly, solar module manufacturers admit that several of their agreements have been annulled after signing, owing to various reasons beyond their control—disrupting their production and planning cycles.