Waaree Renewable Technologies Secures Contract for 1.090 MWp Solar Power Project

Waaree Renewable Technologies Limited (Waaree), a leading player in India’s renewable energy sector, has secured a significant contract for the development of a solar power project. The company announced on June 26, 2024, that it had received a Letter of Award (LOA) for the execution of Engineering, Procurement, and Construction (EPC) works for a 1.090 MWp DC capacity solar power plant on a turnkey basis.

Project Details and Client Identity

While the specific client’s name remains undisclosed, the announcement reveals it to be a leading Indian company engaged in diverse sectors such as metal recycling, speciality chemicals, metal intermediates, mining, industrial gas production, mineral exploration, and engineering services. This project signifies Waaree’s ability to cater to the clean energy needs of a broad spectrum of industries, promoting sustainability across various sectors within India.

Project Scope and Timeline

The project has an estimated value of approximately INR 4.122 crore (excluding taxes). As per the terms of the order, Waaree is responsible for the complete turnkey execution of the project, encompassing all aspects of engineering, procurement, and construction. The project is expected to be finalised by March 31, 2025, within the current financial year.

Transparency and Ethical Conduct

The company emphasises that neither the promoter, promoter group nor any affiliated companies hold any stake in the client organisation. This underscores Waaree’s commitment to transparency and ethical business practices in all its endeavours.

Looking Ahead

This new project adds to Waaree’s growing portfolio of solar power projects across India. The company’s expertise in EPC services positions it as a reliable partner for businesses seeking to adopt sustainable energy solutions. The successful completion of this project will further solidify Waaree’s reputation as a leading force in India’s renewable energy sector and contribute to the nation’s clean energy goals.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.