Waaree Renewable Technologies Secures ₹1,233.5 Crore EPC Contract

28 Nov 2024 , 02:11 AM

Waaree Renewable Technologies Ltd has received a term sheet for executing the Engineering, Procurement, and Construction (EPC) of a 2012.47 MWp DC ground-mount solar PV project. The aggregate of the total project estimate works out to approximately ₹1233.5 crores exclusive of the levies. Project involved development and implementation of a large renewable energy-based solution.

The dates for the project completion shall be mutually agreed between the project partners and Waaree Renewable Technologies. An important milestone for Waaree Renewable Technologies in solar energy.

Waaree Renewable Technologies had an almost three times jump in consolidated net profit to ₹53.51 crore as against ₹20.54 crore in the same period last year, it posted in Q2 2024. The Company’s total revenue, up ₹527.86 crore from ₹150.93 crore in Q2 FY2023. The revenue growth is basically based on higher revenue and excellent performance of the firm within the space of renewable energy. Participation in large solar projects in line with long-term strategy to build scale within the renewable energy space for India’s clean energy vision.