Contract Value Enhancement
Waaree Renewable Technologies Receives Scope Enhancement in 980 MWp / 700 MWac Solar EPC Project; Order Value Revised to ₹1,044.69 Crore
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Waaree Renewable Technologies Limited (WRTL) has received an enhancement in the scope of work under its existing EPC contract for a 980 MWp / 700 MWac solar power project from a leading renewable energy company. The commercial value of the contract has been increased by ₹30.91 crore, taking the total project value to ₹1,044.69 crore, inclusive of taxes.
PRICE-SENSITIVE TRIGGER
Event: Scope enhancement received under an existing utility-scale solar EPC contract.
Type: Contract Value Enhancement
Impact: Positive
Immediate Effect: The enhancement increases the total contract value by ₹30.91 crore and strengthens revenue visibility from an ongoing large-scale solar EPC project.
Key Metrics:
- Previous Contract Value: ₹1,013.78 crore (derived from disclosed enhancement)
- Order Enhancement: ₹30.91 crore
- Revised Contract Value: ₹1,044.69 crore (inclusive of taxes)
- Project Capacity: 980 MWp / 700 MWac
- Execution Model: EPC (Engineering, Procurement & Construction)
Highlight:
- Order Value Increased: Existing solar EPC contract value revised upward to ₹1,044.69 crore, reflecting additional scope awarded by the client.
What Happened ?
Waaree Renewable Technologies Limited informed exchanges that it has secured an enhancement in the scope of work under an existing EPC contract for a 980 MWp / 700 MWac solar power project awarded by one of India’s leading renewable energy companies.
The revised scope increases the commercial value of the project by ₹30.91 crore while all other contractual terms and conditions remain unchanged. The company received the formal intimation on June 17, 2026.
Key Details
Solar EPC Project Scope Expansion:
- Client is one of India’s leading renewable energy companies.
- Enhancement relates to an existing EPC contract for a utility-scale solar power project.
- Project size remains unchanged at 980 MWp / 700 MWac.
- Additional scope of work has been awarded under the ongoing contract.
- Commercial value increased by ₹30.91 crore.
- Revised total contract value stands at ₹1,044.69 crore inclusive of taxes.
- Customer is a domestic entity.
- Nature of contract remains a commercial EPC order.
- No change has been made to the existing contractual terms and conditions.
- Execution timeline will be mutually decided between the parties.
Note:
- The enhancement builds on disclosures previously made by the company on February 20, 2024 and November 10, 2025 regarding the same solar EPC project, indicating continued project expansion and customer confidence.
Risk Analysis
Summary:
- While the contract value has increased, project execution timelines remain to be finalized and successful realization will depend on execution progress and project-specific approvals.
Key Risks:
- Execution schedule is yet to be mutually finalized.
- Revenue recognition will depend on project milestone completion.
- Large-scale solar projects remain exposed to supply-chain and execution risks.
- Any delay in approvals or site-related activities may impact project timelines.
- Contract value enhancement does not alter underlying execution obligations.
Worst Case Scenario:
- Delays in execution or project implementation could defer revenue realization despite the increase in contract value.
Risk Level: Low
Company Commentary
- WRTL has received an enhancement in the scope of work under the existing EPC contract.
- The solar project capacity remains unchanged at 980 MWp / 700 MWac.
- Contract value has been increased by ₹30.91 crore.
- Revised commercial order value stands at ₹1,044.69 crore inclusive of taxes.
- All terms and conditions of the contract remain unchanged.
- The client is a domestic renewable energy company.
Official Exchange Filing: Waaree Renewable Technologies Limited
