Battery Energy Storage Infrastructure Order

Waaree Renewable Technologies Bags 350MW/1400MWh BESS EPC Order from Waaree Group Entity

NSE

WAAREERTL

BSE

534618

Waaree Renewable Technologies Limited (WRTL) has secured a turnkey EPC contract for a 350MW/1400MWh Battery Energy Storage System (BESS) project from Waaree Forever Energies Private Limited (WFEPL). The project includes engineering, procurement, construction and two years of operations & maintenance services, with execution targeted during FY27.

PRICE-SENSITIVE TRIGGER

Event: Receipt of BESS EPC Contract

Type: Battery Energy Storage Infrastructure Order

Impact: Positive

Immediate Effect: The order strengthens WRTL’s position in the fast-growing utility-scale energy storage segment and expands its EPC execution portfolio in India’s renewable energy infrastructure market.

Key Metrics:

Project Capacity: 350MW / 1400MWh
Execution Timeline: FY 2026-27
Nature of Work: EPC with 2 years O&M services
Project Type: Grid-connected Battery Energy Storage System (BESS)

Highlight Metric:

Waaree Renewable Technologies will execute one of the larger grid-scale BESS EPC projects in the domestic market with a total storage capacity of 1400MWh.

What Happened ?

Waaree Renewable Technologies Limited announced that it has signed a turnkey Engineering, Procurement and Construction (EPC) contract for a 350MW/1400MWh Battery Energy Storage System (BESS) project.

The order has been awarded by Waaree Forever Energies Private Limited (WFEPL), a subsidiary entity within the promoter group structure. The contract includes EPC execution along with two years of operations and maintenance services.

The project is scheduled for completion during FY27 and marks another major addition to Waaree Renewable Technologies’ growing renewable infrastructure and energy storage business.

Key Details

BESS Project Details:

The project involves development of a grid-connected 350MW/1400MWh Battery Energy Storage System (BESS).
Scope includes complete EPC execution for the storage infrastructure project.
The contract also includes two years of operations and maintenance (O&M) services.
The project is expected to be completed during FY 2026-27.
Waaree Forever Energies Private Limited (WFEPL) is the awarding entity.
The company classified the order as a domestic commercial order.

Related Party Information:

WFEPL is a subsidiary company of the holding company.
The transaction qualifies as a related party transaction.
The disclosure confirms the transaction is being undertaken within the group structure.

Note:

The order reflects Waaree Group’s increasing focus on utility-scale energy storage infrastructure as India accelerates renewable integration and grid balancing investments.

Risk Analysis

Key Risks:

Large-scale BESS projects require timely procurement and commissioning execution.
Battery storage economics remain sensitive to technology and pricing trends.
Since the order is a related party transaction, investors may monitor pricing and execution transparency closely.
Delays in project commissioning could affect revenue recognition timelines.
Energy storage policy and regulatory developments may impact future profitability.

Worst Case Scenario:

Execution delays, cost overruns or operational inefficiencies in large-scale BESS deployment could impact project margins and working capital cycles.

Risk Level: Medium

Company Commentary

The company confirmed signing of the EPC contract for the 350MW/1400MWh BESS project.
Management stated the project includes engineering, procurement, construction and O&M services.
WRTL highlighted that the project will be completed during FY27.
The disclosure confirmed that the awarding entity belongs to the promoter group structure.

Official Exchange Filing: Waaree Renewable Technologies Limited