Shares of Waaree Energies Ltd. fell 1.5% after reaching a day’s high of Rs 3,257.55 on 16th December, despite the firm announcing it had secured two projects totalling 398 MW for the supply of solar modules.

Waaree Energies has secured two 398 MW projects to supply solar modules. One project is for 249 MW, and the other is for 149 MW. These orders come from a renowned client who owns, develops, and operates renewable power projects in India.

The supply of solar modules is scheduled to begin in FY26.

Last week, Waaree Energies’ wholly-owned subsidiary, Waaree Forever Energies, received a letter of award for developing a 170 MW solar power plant in Madhya Pradesh from Rewa Ultra Mega Solar Ltd.

The plant will be integrated into the Inter-State Transmission System (ISTS), allowing clean energy generation and transmission. The renewable energy will be supplied to Madhya Pradesh Power Management Company Ltd and Indian Railways.

Earlier this month, Waaree Energies announced it received accreditation from the National Accreditation Board for Testing and Calibration Laboratories (NABL) for its testing lab at the Chikhli facility in Gujarat. This is the company’s second NABL-certified facility, following its Tumb manufacturing unit.

According to Waaree’s CEO, Amit Paithankar, the development allows the company to perform high-quality domestic testing, saving time and resources while reducing dependence on foreign laboratories.

At 12:54 PM, the shares of Waaree Energies were trading 1.52% lower at Rs 3,168.10 on NSE.

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