Waaree Renewables secures LoA for project worth ₹1,252 Crore

9 Sep 2025 , 02:10 PM

Waaree Renewables Limited informed the bourses and shareholders that it has secured a Letter of Award (LoA) for a solar power project worth ₹1,252 Crore. This LoA has been received from Waaree Forever Energies.

At around 1.55 PM, Waaree Renewables was trading 2.63% higher at ₹1,039.40 per piece, against the previous close of ₹1,012.80 on NSE. The counter touched an intraday high and low of ₹1,062.80, and ₹1,009, respectively.

The project includes execution of an 870 MWac / 1,218 MWp grid-connected ground-mount solar power plant. This also includes a 33kV/400kV substation, transmission line, and two years of operation and maintenance (O&M) services.

The company further informed that the project is scheduled to be completed in the financial year 2026-27, subject to regulatory approvals.

Waaree Forever Energies is subsidiary to the holding company for Waaree Renewables.

As per the company’s disclosure, the total capacity is 870 MWac / 1,218 MWp.

In its results for the quarter ended June 2025, Waaree Renewables posted a 156% y-o-y growth in its revenue for the quarter at ₹603 Crore. The company posted an EBITDA of ₹118 Crore during the period under review. This was 183.70% higher against the previous corresponding period. Furthermore, the business also witnessed expansion in margins by 200 basis points to 19.54%.

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