Waaree Renewable Signs MoU for 100 MW Solar Project in Vietnam

24 Jun 2025 , 12:18 PM

On June 20, Waaree Renewable Technologies signed a non-binding Memorandum of Understanding (MoU) with Viet Khanh Joint Stock Company, a Vietnam-based renewable energy firm.

Under this agreement, Waaree will handle the entire scope of a proposed 100 MWp ground-mounted solar power project in Vietnam. The project will be developed on a turnkey basis, meaning Waaree will take charge from design and engineering to procurement and final commissioning.

This MoU signals Waaree’s broader aim to grow internationally and tap into high-potential markets across Southeast Asia, with Vietnam offering strong demand for solar infrastructure.

The final project value has not yet been determined. Both companies will finalise financial terms and the execution timeline once they move forward with a definitive contract.

Waaree confirmed that this is not a related party transaction and that neither the promoter group nor any affiliated entities hold any stake in the Vietnamese partner firm. The company has notified the stock exchanges of the MoU under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements, 2015.

Waaree Renewable Technologies shares are currently trading at ₹1004.20, on June 24, 2025, which is a 1.64% gain than the previous close. Waaree Renewable Technologies shares have witnessed 17% gain in the last year and the year-to-date, and dipped 1.07% dip in the last month.

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