Waaree Renewable Technologies Shares Drop 5% as Solar Project LOA Gets Terminated

Waaree Renewable Technologies Limited, a key player in India’s renewable energy sector, has received formal notification regarding the termination of a major solar EPC contract. The development stems from the withdrawal of external funding by the Assam government, affecting the viability of the project.

Details of EPC Contract Cancellation Involving Waaree

Waaree Renewable Technologies Limited (WAAREERTL), a subsidiary of Waaree Energies Limited, disclosed to the stock exchanges on July 19, 2025, that a Letter of Award (LOA) previously issued for a significant 125 MWAC (181.3 MWp DC) solar power project has been terminated.

The contract, which was awarded to a consortium of three members including Waaree, covered Engineering, Procurement, and Construction (EPC) on a turnkey basis along with operations and maintenance services.

Assam Government Withdraws ADB Funding

The company had originally informed the exchanges about the award of the project on March 11, 2025, and the contract was expected to be completed within 18 months of signing. However, in a recent development, the Government of Assam decided to withdraw the project from funding under the ADB (Asian Development Bank) loan, making it unviable for execution.

As a result, Assam Power Distribution Company Limited (APDCL) has officially cancelled the project and terminated all related work. The decision was formally communicated to Waaree on July 19, 2025, at 3:30 PM.

Waaree Renewable Technologies Share Price Performance

Waaree Renewable Technologies (NSE: WAAREERTL) shares were trading at ₹1,127, down ₹59.10 or 4.98% at 9:35 AM on the NSE, compared to the previous close of ₹1,186.10. The stock opened at ₹1,187.90 and hit an intraday high of ₹1,193.60 before slipping to a low of ₹1,122.50. The volume-weighted average price (VWAP) stood at ₹1,140.79, reflecting bearish sentiment in early trade.

Read More: India Achieves 50% Renewable Energy Milestone, Ahead of 2030 Goal: Adani Green, Waaree, NTPC in Focus.

Conclusion

The cancellation of the 125 MWAC solar EPC contract highlights the uncertainties that can arise in infrastructure projects reliant on public financing. Waaree Renewable Technologies remains a significant player in India’s solar energy space, but investors and stakeholders will be watching closely to see how the company manages the short-term impact of this development and re-aligns its project pipeline accordingly.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.