Waaree Renewable Secures ₹114 Crore Solar EPC Order Under MSKVY 2.0 Scheme

Waaree Renewable Technologies Limited, a subsidiary of Waaree Energies Limited, announced on May 16, 2025, that it has received a Letter of Award (LOA) for a significant solar power project. The company has been entrusted with the Engineering, Procurement, and Construction (EPC) work, along with Operations and Maintenance (O&M) responsibilities for a solar project with a capacity of 94 MW AC / 131.6 MW DC.

Project to be Executed Under Government-Backed Scheme

This solar project will be implemented under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0), a government scheme aimed at promoting solar energy usage in agricultural sectors. The LOA was awarded by a domestic renewable generation company, and the project is set to be completed within the financial year 2025-26.

Financial Details and Scope

The contract value of the project stands at approximately ₹114.23 crore (excluding taxes). The order is entirely domestic in nature and falls under the commercial category. The scope includes ground-mounted solar development along with full operational and maintenance responsibilities post-commissioning.

Read More: NHPC Approves 1200 MW Solar Park Project in Uttar Pradesh and ₹2,000 Crore Bond Issue. 

Share Price Performance

Following the announcement, Waaree Renewable Technologies’ share price gained over 2% as of 2:07 PM on the stock exchanges. The market responded positively to the order win, which aligns with the company's ongoing efforts to expand its presence in India’s solar EPC segment.

Conclusion

The receipt of this ₹114.23 crore EPC order marks another milestone for Waaree Renewable Technologies in strengthening its position within India’s solar infrastructure landscape. As the company takes on key projects under government-led initiatives like MSKVY 2.0, it continues to contribute to the country’s renewable energy goals while gaining investor confidence, reflected in the over 2% intraday rise in its share price.

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