Waaree Renewable’s solar EPC contract elevated by ₹247 Crore

23 Jun 2025 , 11:16 AM

Waaree Renewable Technologies Ltd (WRTL) announced on Friday that the value of its existing solar engineering, procurement and construction (EPC) order has been revised. There is an upward increase of ₹₹246.92 Crore in the order at ₹1,480.40 Crore.

As per the company’s filing with the bourses, the order is related to a 2,012.47 megawatt peak (MWp) ground-mounted solar PV project. All terms and conditions attached to the original contract remain unchanged. 

In its filing with the bourses, the company stated that it has received the revised scope of work on June 20, 2025, as part of the existing contract. The company continues to execute this project for a domestic company. The two companies shall jointly decide the timeline for completion of this project. 

This revision in scope comes after Waaree Energies’ original announcement in November 2024 for securing a commercial contract for the large-scale renewable energy project.

The company also informed the shareholders that this contract does not relate to related parties and the promoters or promoter entity does not have vested interest in the client company. 

In its results for the quarter ended March 2025, the company posted a revenue of ₹4,003.90 Crore. This was 36.40% higher than ₹2,935.80 Crore in the previous corresponding period. 

The business registered a 34.10% y-o-y growth in its net profit at ₹618.90 Crore, against ₹461.50 Crore in Q4FY24.

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