Waaree Energies Bags Contract To Supply Solar Modules Up To 1 GW

Waaree Energies Limited, a prominent player in the renewable energy sector, has announced a significant development in its business operations. On December 9, 2024, the company received an order to supply solar modules with a capacity of 1 GW to a well-known domestic customer specialising in renewable power projects. This contract marks an important milestone for Waaree Energies, demonstrating its growing impact in the Indian renewable energy landscape.

Details of the Order: A Milestone for Waaree Energies

The contract specifies the one-time supply of solar photovoltaic (PV) modules, with the delivery scheduled over two fiscal years, FY 2024-25 and FY 2025-26. This order signifies Waaree’s expanding footprint in providing cutting-edge solar solutions to customers engaged in owning, developing, and operating renewable energy projects. Notably, the customer, whose name remains undisclosed, is a domestic entity.

Compliance and Commercial Scope

The financial scale of the order is substantial, emphasising the company’s capabilities in handling large-scale projects. Waaree Energies has adhered to regulatory requirements under the SEBI Listing Obligations and Disclosure Requirements, ensuring a well-documented and compliant process. According to the company secretary, Rajesh Ghanshyam Gaur, the contract does not involve any related party transactions, highlighting its independent and professional nature.

About Waaree Energies

Waaree Energies stands as a prominent leader in the sustainable energy sector, offering innovative, cost-effective, and environmentally friendly energy solutions. The company is committed to reducing carbon footprints on a global scale, the company continues to play a pivotal role in driving the transition towards a greener and more sustainable future.

Waaree Energies Share Performance

As of December 09, the shares of Waaree Energies closed at ₹2,971.45 per share up by 2.45% from its previous day’s closing price, The stock was recently listed on October 28 and it has given returns of 18.85% from its listing price. Waaree Energies IPO had an issue price band of ₹1427-₹1503.

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