Shares of Waaree Renewable Technologies Ltd soared 11% on 16 October after the company announced securing a LOA from a renowned renewable energy company. 

Waaree Renewable announced in an exchange filing that it has received a Letter of Award (LOA) from a renowned renewable energy company for the execution of EPC works for a 150 MWac/217.5 MWp ground mount solar power project. The order totals around Rs 156.66 crore. 

According to the terms of the deal, the project is expected to be finished in the fiscal year 2026–27.

According to the corporation, the unexecuted order book is 3.48 GWp, which will be completed during the next 12-15 months. The bidding pipeline is solid at 27+ GWp.

According to the management, India’s renewable energy momentum continues to grow, with total installed capacity reaching 256.1 GW as of September 2025, marking a significant milestone in the country’s clean energy transition, bringing it halfway to the 500 GW target of 2030 and further aligning with India’s long-term net zero vision.

Solar energy accounts for 127.33 GW of total renewable installed capacity, demonstrating its critical role in the country’s clean energy transition, which is fueled by strong legislative support and ambitious national targets.

India’s solar EPC market is likewise quickly evolving, and our integrated skills position us at the forefront of that shift.  With a strong solar EPC unexecuted orderbook of 3.48 GWp, the company is well-positioned to execute large-scale, integrated energy projects and lead India’s energy transition by providing value throughout the lifecycle, from design and delivery to commissioning and O&M (Operations and Maintenance). In addition, the company is developing substations and transmission lines for specialised solar power projects, according to management.

At 1:35 pm, the shares of Waaree Renewable were trading 10.81% higher at Rs 1,308 on NSE. 

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