Solar EPC Order
Waaree Renewable Technologies Secures 300MW/450MWp Solar EPC Order with O&M Scope
NSE
WAAREERTL
BSE
534618
Waaree Renewable Technologies Limited (WRTL) has received a Letter of Award (LOA) for execution of a 300MW/450MWp Ground Mounted Solar EPC project, including two years of operation and maintenance (O&M) services. The order has been awarded by Sunsational Power Private Limited (SPPL), a subsidiary company of WRTL. The project is scheduled for completion during FY2026-27.
PRICE-SENSITIVE TRIGGER
Event: Receipt of Letter of Award (LOA) for a 300MW/450MWp Ground Mounted Solar EPC project.
Type: Solar EPC Order / Contract Award
Impact: Positive
Immediate Effect: The order strengthens WRTL’s project execution pipeline, adds significant EPC capacity to its order book, and enhances revenue visibility for FY2026-27 through EPC execution and O&M services.
Key Metrics:
- Project Size: 300MW / 450MWp
- Scope: EPC + 2 Years Operation & Maintenance
- Execution Timeline: FY2026-27
- Customer: Sunsational Power Private Limited (SPPL)
- Geography: India
Highlight:
- Order Size: 300MW / 450MWp Ground Mounted Solar EPC project with integrated O&M services.
What Happened ?
Waaree Renewable Technologies Limited has signed a Letter of Award for the execution of Engineering, Procurement and Construction (EPC) works for a 300MW/450MWp ground-mounted solar project.
The scope includes complete EPC services along with two years of operation and maintenance support. The company received the formal intimation of the award on June 8, 2026.
Key Details
Project Scope and Execution:
- EPC services for a 300MW/450MWp ground-mounted solar power project.
- Includes engineering, procurement, construction, testing, and commissioning activities.
- Two-year operation and maintenance services are part of the contract.
- Scheduled completion is targeted during FY2026-27.
Customer Information:
- Awarding Entity: Sunsational Power Private Limited (SPPL).
- Nature of Customer: Domestic entity.
- Project Type: Commercial order.
- Geography: India.
Strategic Significance:
- Expands WRTL’s solar EPC execution portfolio.
- Supports continued growth in utility-scale solar infrastructure projects.
- Enhances medium-term project visibility through EPC and O&M revenues.
- Reinforces the company’s position in the renewable energy EPC market.
Related Party Disclosure:
- SPPL is a subsidiary company of Waaree Renewable Technologies Limited.
- The transaction qualifies as a related-party transaction.
- The company has disclosed the relationship as part of the regulatory filing.
Note:
- The filing does not disclose the monetary value of the order. However, the project’s scale of 300MW/450MWp indicates a significant utility-scale solar development assignment.
Risk Analysis
Summary:
- The project provides execution visibility and strengthens the company’s renewable energy portfolio. However, the order is awarded by a subsidiary entity, making project execution, funding arrangements, and timeline adherence key factors to monitor.
Key Risks:
- Contract value has not been disclosed.
- Project execution delays could impact revenue recognition.
- Utility-scale solar projects are subject to regulatory and construction-related risks.
- Related-party nature of the transaction may attract additional governance scrutiny.
- Timely completion during FY2026-27 remains critical.
Worst Case Scenario:
- Delays in project execution, cost escalations, or changes in project timelines could postpone expected revenue realization and affect project profitability.
Risk Level: Medium
Company Commentary
- WRTL will provide EPC services for the entire 300MW/450MWp project.
- The contract includes two years of operation and maintenance support.
- The project is expected to be completed during FY2026-27.
- The company disclosed that SPPL is its subsidiary and the transaction falls within related-party transaction requirements.
Official Exchange Filing: Waaree Renewable Technologies Limited