Waaree Renewable bags 125 MW solar EPC contract in India

Waaree Renewable Technologies secured an INR 740 crore EPC contract for a 125 MW solar project in India, set for completion within 18 months.

By Prudhvi Rani 11 Mar 2025 in Project Bytes India Bytes

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Waaree Renewable secured a 125 MW solar EPC contract through a three-member consortium for turnkey project development in India. Image Credit/Source: MRGanso/Pixabay

Mumbai-based Waaree Renewable Technologies received a letter of award (LOA) worth INR 740.06 crore (~$84.91 million). Waaree Renewable Technologies is a subsidiary of Waaree Group. The contract is for EPC works on a 125 MW (AC) (181.3 MW (DC)) solar power project. It will be executed on a turnkey basis, meaning Waaree will handle the entire project from engineering, procurement, and construction (EPC) to operation and maintenance, delivering it in a ready-to-use condition. A consortium of three members, including Waaree, awarded the order. The project is set for completion within 18 months of contract signing. In Q3 FY25, Waaree Renewable Technologies’ net profit declined by 16.71% to INR 53.51 crore (~$6.13 million). Revenue rose by 11.15% to INR 360.35 crore (~$41.34 million). Shares fell by 2.69%, trading at INR 810 (~$9.29).

#India #SolarProject #WaareeRenewableTechnologies #SolarEPC

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