VA Tech Wabag Wins ₹1,000 Crore Desalination Order; Share Price Rose By Over 3%

VA Tech Wabag Limited has announced a significant achievement in its Global Leadership position in the desalination sector, securing a mega order worth ₹1,000 crore from Indosol Solar Private Limited. This order marks a pivotal step for WABAG in providing water security for the solar photovoltaic (PV) sector.

The order encompasses a comprehensive scope of work, including engineering, procurement, design, installation, testing, and commissioning of a 100 million litres per day (MLD) desalination plant. This ambitious project is set to be executed over 38 months and will be followed by a 15-year operation and maintenance (O&M) contract. The desalination plant will employ cutting-edge technologies aimed at achieving superior energy efficiency and ensuring an adequate water supply for Indosol Solar’s 10 GW integrated solar PV manufacturing facility located in Andhra Pradesh.

WABAG’s reputation as a global leader in the desalination segment is well-established, ranking among the top five players worldwide. With a track record dating back to 1995, the company has successfully constructed over 60 desalination plants across 17 countries, contributing significantly to global water security initiatives. This latest order reinforces WABAG’s commitment to innovative solutions in sustainable water management, aligning with the growing demand for clean water sources in renewable energy sectors.

Commenting on this significant order win, the Head of Desalination, India Cluster, Mr Saravanan Krishnan, said, “This mega order marks WABAG’s entry into the Solar PV sector which is a key segment for the future. WABAG’s technological expertise, proven track record and competitive pricing enabled us to offer the lowest life-cycle cost of water for Indosol Solar. We express our sincere gratitude to Indosol Solar for having reposed confidence in WABAG and entrusted this important project to us.”

On October 15, 2024, the share price of VA Tech Wabag Ltd opened at ₹1,680.90. As of 9:31 AM, the share price rose by over 3%, trading at ₹1,734.95 and touched the day’s high at ₹1,744.20 on the NSE. 

About VA Tech Wabag Limited

VA Tech Wabag provides a comprehensive array of technologies and services for Total Water Solutions in both the municipal and industrial sectors. WABAG serves as a complete life-cycle partner for developing water and wastewater infrastructure, encompassing design, engineering, supply, construction, installation, startup, and long-term operational management across various business models.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.