Shares of Waaree Renewable Technologies Limited, a subsidiary of Waaree Energies, were trading 1% higher on 9 October after the company announced that it has secured a domestic order to develop a 5 MWp grid-connected solar power project for a public sector undertaking (PSU). 

The company received the Letter of Acceptance (LoA) on October 8, 2026, adding another project to its solar engineering, procurement and construction (EPC) portfolio.

Under the contract, Waaree Renewable Technologies will handle the project on a turnkey basis. This means the company will be responsible for delivering the solar power project, covering the key stages required to make the facility operational.

The scope of work also includes operation and maintenance (O&M) services after the project’s construction. The company will have 12 months from the date of the LoA to complete the EPC work. This will be followed by a 10-year O&M contract, providing a long-term service component beyond the initial construction phase.

The project adds to the company’s presence in India’s renewable energy sector, where solar power capacity continues to expand as government agencies and businesses seek cleaner sources of electricity. Grid-connected solar installations feed electricity into the power network and form an important part of India’s efforts to increase renewable energy generation.

For Waaree Renewable Technologies, the combination of project execution and long-term maintenance could create opportunities to build customer relationships beyond the initial installation. 

O&M contracts can also support recurring service activity, although the financial contribution will depend on the contract value, operating costs and execution.

The company operates as a solar EPC solutions provider and is part of the Waaree Energies group. Its business focuses on developing solar power projects and supporting their operation, positioning it to benefit from demand for renewable energy infrastructure.

The company has not disclosed the order value in the announcement, so its direct impact on revenue and profitability cannot yet be assessed. Investors will watch for further details on the contract’s value and execution, along with additional order wins that could strengthen the company’s project pipeline.

At 12:14 pm, the shares of Waaree Renewable Technologies were trading 0.64% higher at Rs 801.10 on NSE.

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