Waaree Renewables Technologies Ltd has received an enhancement in the scope of work under an existing Engineering, Procurement and Construction (EPC) contract for a utility-scale solar project.
According to a regulatory filing, the company has secured an additional Rs. 30.91 crore, taking the total value of the contract to Rs. 1,044.69 crore, including taxes.
The project involves EPC work for a 980 MWp/700 MWac solar power plant.
Existing Contract Expanded
The company said the additional order relates to the existing contract and that all other terms and conditions remain unchanged.
Key details
- Additional scope value: Rs. 30.91 crore
- Revised contract value: Rs. 1,044.69 crore
- Project capacity: 980 MWp / 700 MWac
- Nature of work: Engineering, Procurement and Construction (EPC)
- Customer: An Indian renewable energy company
- Execution schedule: To be mutually decided
The identity of the customer was not disclosed.
Order Book Gets Further Support
The increase in contract value strengthens the company’s order pipeline and improves revenue visibility.
Scope enhancements in ongoing projects typically indicate additional requirements from customers and can reflect confidence in the contractor’s execution capabilities.
At 980 MWp, the project is among the larger utility-scale solar EPC projects being executed in the country.
Renewable Energy Push Creates Opportunities
India has set a target of achieving 500 GW of non-fossil fuel electricity capacity by 2030, creating opportunities for companies involved in renewable energy infrastructure.
Large EPC players are expected to benefit as government agencies and private developers continue to add utility-scale solar projects.
Part of the Waaree Group Ecosystem
Waaree Renewables is part of the broader Waaree Group.
Its parent company, Waaree Energies Ltd, has an installed solar module manufacturing capacity of 12 GW across facilities located in:
- Chikhli
- Surat
- Umbergaon
All three manufacturing units are situated in Gujarat.
The integrated ecosystem provides operational support for executing large-scale renewable projects.
Stock Performance
Waaree Renewables Technologies Ltd had a market capitalisation of around Rs. 10,256.67 crore.
The stock was trading at Rs. 983, up 1.16 percent during the session.
Recent performance
- Up 6.45% over the last five trading sessions.
- Up 5.17% over the past month.
- 52-week high: Rs. 1,358.
- 52-week low: Rs. 779.50.
About the Company
Incorporated in 1999, Waaree Renewables Technologies Ltd is engaged in:
- Renewable power generation.
- EPC services.
- Consultancy services for renewable energy projects.
The company has built a presence in both utility-scale and commercial and industrial solar projects.
TL;DR
Waaree Renewables has received an additional Rs. 30.91 crore under an existing solar EPC contract, taking the total project value to Rs. 1,044.69 crore. The project involves a 980 MWp/700 MWac solar power plant.
AI Summary
- Waaree Renewables secured an additional Rs. 30.91 crore.
- Total EPC contract value has increased to Rs. 1,044.69 crore.
- The project relates to a 980 MWp/700 MWac solar plant.
- Execution timelines will be decided jointly by both parties.
- The stock was trading at Rs. 983, up 1.16%.
