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GRE Renew Enertech Crosses 100 MWp Solar Installations, EPC Order Book Reaches INR 224 Crore

GRE recently commissioned a 7.20 MW (AC)/9.678 MW (DC) ground-mounted solar power plant under the RESCO or OPEX model. The project was among the key objectives outlined in the company's initial public offering, which was completed in January this year.

July 17, 2026. By Abha Rustagi

GRE Renew Enertech Ltd said it has surpassed 100 MWp of cumulative solar installations and reported a consolidated active EPC order book of around 75 MWp valued at approximately INR 224 crore, driven by new project wins in the first quarter of FY26-27.

The renewable energy company, listed on the BSE SME platform, said the order book reflects its growing presence in India's utility-scale solar segment and its transition towards larger-value projects.

GRE recently commissioned a 7.20 MW (AC)/9.678 MW (DC) ground-mounted solar power plant under the RESCO or OPEX model. The project was among the key objectives outlined in the company's initial public offering, which was completed in January this year.

A significant contributor to the company's order pipeline is an INR 175 crore turnkey contract awarded by Solarium Green Energy for a 50 MW AC/65 MW DC utility-scale ground-mounted solar photovoltaic project in Maharashtra. The value of the contract exceeds GRE's consolidated revenue from operations of INR 122.9 crore for the financial year ended March 31, 2026.

The company also secured an additional solar EPC contract worth INR 17.75 crore during the period, taking its cumulative EPC order book to 75 MWp and approximately INR 224 crore at the end of the first quarter of FY26-27.

Managing Director Kamlesh Patel said the recent order wins mark an important milestone in the company's expansion plans in the utility-scale solar market.

"Our recent order wins and business acceleration represent an important milestone in our journey as we push towards strengthening our presence in the utility-scale solar segment. The fact that our active order book value has outpaced our entire previous year's consolidated revenues reflects the trust our customers place in GRE's execution capabilities. As India's renewable energy sector continues to witness strong momentum, we remain focused on building reliable clean energy infrastructure and driving sustained business growth for our stakeholders," Patel said.

For the financial year ended March 31, 2026, GRE reported a consolidated profit after tax of INR 13.6 crore, registering a three-year compound annual growth rate of 147 percent.

The company said it had installed more than 100 MWp of solar capacity as of June 2026 and continues to operate across both engineering, procurement and construction (EPC) and RESCO business models. It serves industrial, commercial and government customers through captive and non-captive projects.

Under its EPC model, GRE generates revenue from project execution contracts and annual operations and maintenance agreements, while the RESCO model provides recurring revenue through long-term power purchase agreements. The company said it will continue to prioritise the use of domestically manufactured solar modules and inverters across its project portfolio to support India's clean energy supply chain.

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