Waaree Renewable Technologies Bags INR 1252 Crore EPC Contract for 870 MW Solar Power Project
Waaree Renewable Technologies has bagged an EPC order worth INR 1,252.43 crore from Waaree Forever Energies for an 870 MWac/1,218 MWp grid-connected solar power project, including substation, transmission line, and O&M services for two years.
September 11, 2025. By Mrinmoy Dey
The project also includes a 33kV/400kV substation and transmission line works. The project scope also covers two years of operation and maintenance (O&M) services, the company stated in a regulatory filing.
It further added that the project is scheduled to be completed in the financial year 2026- 27.
Waaree Forever Energies is a subsidiary company of the holding company and the transaction is done at an arm’s length basis.
In July 2025, Waaree Renewable Technologies secured an INR 26.17 crore EPC contract for a 21 MW AC/29.4 MW DC ground-mounted solar power project under the Mukhyamantri Saur Krushi Vahini Yojana 2.0.
In June 2025, the company bagged solar EPC order worth INR 346.33 crore to develop ground-mounted solar power project with an aggregate capacity of 300 MW AC/435 MW DC.
In May 2025, the company secured 94 MW AC/131.6 MW DC ground-mounted solar power project worth INR 114.23 crore from a renewable energy generation company under MSKVY 2.0.
The company’s unexecuted order book stands at 3.15 GWp to be executed between 12-15 months and has a bidding pipeline of about 25 GWp, the company stated.
“In response to the evolving energy landscape, we have broadened our portfolio to include Battery Energy Storage System (BESS) EPC solutions, reinforcing our position as a full-spectrum 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 next-generation, large-scale integrated energy projects,” said Manmohan Sharma, CFO, Waaree Renewable Technologies, in a statement issued post the announcement of Q1 FY26 result.
In Q1 FY26, the company has reported a revenue of INR 603.19 crore, compared to INR 236.35 crore in Q1 FY25, delivering a robust growth of 155.20 percent. PAT for Q1FY26 stood at INR 86.39 crores as compared to INR 28.16 crore in Q1FY25 representing a growth of 206.77 percent YoY.
In FY25, the company reported revenue of INR 1,597.75 crore showing a growth of 82.29 percent YoY as compared to INR 876.50 crore in FY24. The company’s PAT soared to INR 228.92 crore in FY25, up by 57.64 percent from INR 145.22 crore in FY24.
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