Two large-scale ground-mounted solar projects totalling 1,082 MWp strengthen the company’s renewable energy execution pipeline

Waaree Renewable Technologies Limited, a subsidiary of Waaree Energies Limited, has secured two Letters of Award for the Engineering, Procurement and Construction of ground-mounted solar photovoltaic projects with an aggregate capacity of 800 MWac or 1,082 MWp.

The two orders comprise projects of 400 MWac/530 MWp and 400 MWac/552 MWp, respectively. The company received the Letters of Award from a domestic renewable energy company on July 25, 2026.

Two Utility-Scale Solar EPC Projects

Under the contracts, Waaree Renewable Technologies will undertake EPC work for both ground-mounted solar plants.

The combined capacity of the projects includes:

• First project: 400 MWac/530 MWp
• Second project: 400 MWac/552 MWp
• Aggregate capacity: 800 MWac/1,082 MWp

Both projects are scheduled to be completed during the financial year 2027–28, in accordance with the terms of the respective orders.

The large-scale orders add substantial capacity to Waaree Renewable’s execution pipeline and strengthen its presence in India’s utility-scale solar EPC market.

Scope of EPC Execution

Engineering, Procurement and Construction contracts involve the complete execution of a renewable energy project, covering engineering design, sourcing of equipment and materials, construction, installation, testing and commissioning.

For large ground-mounted solar plants, the EPC scope generally includes project engineering, module installation, electrical systems, civil work, power evacuation infrastructure and coordination for successful commissioning.

The two projects will allow Waaree Renewable to further demonstrate its ability to manage large and technically complex renewable energy developments.

Supporting India’s Renewable Energy Expansion

Utility-scale solar projects play an important role in increasing clean electricity generation and supporting India’s transition towards a lower-carbon power system.

The addition of 1,082 MWp of solar capacity could contribute to greater renewable power availability while supporting the expansion of green energy infrastructure.

The projects are also expected to create opportunities across engineering, procurement, construction, logistics, installation and project-management activities during their execution.

Contracts Awarded by a Domestic Entity

According to the regulatory disclosure, both commercial orders were awarded by a domestic entity described as one of India’s leading renewable energy companies.

The company did not disclose a monetary value for the contracts in the filing, identifying the broad size of the awards through their aggregate generation capacity of 800 MWac/1,082 MWp.

Waaree Renewable also confirmed that its promoters, promoter group and group companies have no interest in the entity that awarded the contracts.

The company further clarified that the orders do not fall within the definition of related-party transactions.

Strengthening the Solar Project Pipeline

The latest contracts are expected to strengthen Waaree Renewable’s order pipeline and reinforce its execution capabilities across utility-scale solar projects.

Timely completion of the projects during FY 2027–28 will be important for supporting the company’s growth strategy and meeting the awarding entity’s renewable energy deployment targets.

The orders also reflect continued investment in large ground-mounted solar installations as energy companies expand their clean power portfolios and develop new renewable generation capacity.

About Waaree Renewable Technologies Limited

Waaree Renewable Technologies Limited operates in the renewable energy sector and undertakes Engineering, Procurement and Construction work for solar power projects.

The company is a subsidiary of Waaree Energies Limited and is listed on the BSE and the National Stock Exchange of India under the symbol WAAREERTL.

Through its EPC capabilities, the company supports the development and commissioning of renewable energy projects for commercial, industrial and utility-scale applications.