Shares of Waaree Renewable Technologies Ltd rallied 5% on 26 March after the company announced securing a Letter of Award (LOA) for the solar power project. 

In its regulatory filing, the company said: “the company has received a Letter of Award (LOA) for the execution of engineering, procurement and construction (EPC) works for ground mount solar power project including operation and maintenance (O&M) of 170 MW AC/255 MW DC capacity on turnkey basis.”

The order, which is valued at around 232.30 crore, is anticipated to be completed in the fiscal year 2025–2026.  

On 11 March, a Waaree Renewable consortium was awarded a LOA for Rs 740.06 crore. As part of the project, the consortium will construct a plant with a total capacity of 125 megawatts of alternating current (MWAC), according to the filing. The project is anticipated to be completed within 18 months from the contract signing date.

On 13 February, Continuum Green Energy awarded Rs 40 crore for the EPC work for a 40MWh battery storage system.  

Waaree Renewable Technologies, a subsidiary of the Waaree Group, is a prominent solar EPC company headquartered in Mumbai. Beyond offering EPC services, the company engages in the development, financing, construction, ownership, and operation of solar projects, with a strong focus on commercial and industrial clients.

At 12:23 pm, the shares of Waaree Renewable Tech were trading 1.73% higher at Rs 938.05 on NSE.

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