Waaree Renewable Secures INR 1,252 Crore Solar EPC Order for 870 MW Project

Waaree Renewable Technologies Ltd (WRTL), the engineering, procurement, and construction (EPC) arm of Waaree Energies, announced that it has secured a Letter of Award (LoA) for an 870 MW AC (1,218 MWp) grid-connected ground-mounted solar power project.

The project, awarded by Waaree Forever Energies Pvt Ltd, another subsidiary under Waaree Energies, has an estimated value of INR 1,252.43 crore (excluding taxes). 

The EPC scope includes setting up a 33kV/400kV substation, associated transmission line works, and a two-year operations and maintenance contract. 

The project is targeted for completion in the financial year 2026–27.

Waaree’s Market Presence

The Waaree group continues to not just retain but exoand on its position as one of India’s largest solar module manufacturers, with an aggregate installed capacity of 16.7 GW (including 1.3 GW from Indosolar and 1.6 GW in Texas, USA). Alongside modules, the company also has a 5.4 GW capacity in solar cell manufacturing, strengthening its upstream footprint. Besides Waaree RTL, its listed arm, the firm has also recently acquired a controlling stake in a transformers firm, and has also pushed to get into BESS manufacturing and related solutions. 

Internationally, Waaree has been expanding its international renewable presence with about 3.2 GW module manufacturing capacity in the North American market - 1.6 GW of operational capacity and an additional 1.6 GW capacity currently under expansion.

The acquisition of a 64 percent stake in Kotsons Ltd through a primary capital infusion worth around INR 192 crore, leaves only inverters out of the firm's ambit for now, with plans for even those possibly in the pipeline.