Waaree Renewable Technologies Received Orders For A Solar PV Project Worth Rs 1,233 Crore

Waaree Renewable Technologies Limited, a key player in the renewable energy sector, has received a major contract that reinforces its growing presence in the solar energy market. The new order not only boosts the company’s order book but also reflects the increasing demand for large-scale renewable energy projects in India.

Waaree Renewable Technologies Secures Rs.1,233.47 Crore Solar PV Order

On Wednesday, Waaree Renewable Technologies announced the receipt of a substantial order worth Rs. 1,233.47 crore. The order involves the development of a ground-mount solar photovoltaic (PV) project with a total capacity of 2,012.47 MWp DC. The total value of the order is approximately Rs 12,33,47,78,778, excluding taxes.

Project Details and Future Implications

Waaree will be responsible for the development of this large-scale solar PV project, which is expected to contribute significantly to the country’s renewable energy capacity. The company’s filing emphasized that no promoter or group companies have any direct or indirect interest in the entity awarding the contract, ensuring transparency in the deal..

Waaree Renewables Stock Performance

Waaree Renewables stock currently trades at Rs.1494.45 per share up by 5% from its previous day’s closing price. Over the past month, the stock has been flat and has given returns of around 1%. Over the past year, it has surged by 446.54%, The stock has a 52-week high and a 52-week low of Rs.3037.75 per share and Rs.268.10 per share respectively.

Conclusion: Waaree Renewable Technologies has secured an order worth Rs. 1,233.47 crore for the development of a 2,012.47 MWp DC ground-mount solar PV project. The stock of Waaree Renewables is currently locked in an upper circuit limit of 5% at Rs.1494.45 per share.

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.