Solar EPC company Waaree Renewable Technologies announced on Tuesday, March 25, that it has received a Letter of Award (LOA) from Waaree Energies Limited for the Engineering, Procurement, and Construction (EPC) of a 170 MW AC / 255 MW DC ground-mount solar power project, along with Operation & Maintenance (O&M) services.
In a regulatory filing, Waaree Renewable Technologies Ltd stated, “We are pleased to inform that WAAREERTL has received a Letter of Award (LOA) for the execution of Engineering, Procurement and Construction (EPC) works for a ground-mount solar power project, including Operation and Maintenance (O&M) of 170 MW AC / 255 MW DC capacity on a turnkey basis.”
The contract, valued at approximately ₹232.30 crore (excluding taxes), will be executed on a turnkey basis. The project is expected to be completed in FY 2025-26 and is a key part of Waaree Renewable Technologies’ expansion strategy in the solar EPC sector. The company confirmed that Waaree Energies Limited, its promoter entity, was awarded the contract.
Waaree Renewable Technologies also announced that, as part of a three-member consortium, it has secured another Letter of Award (LOA) for an EPC contract for a 125 MW AC (181.3 MWp DC) solar power project.
In a stock exchange filing, the company stated, “We are pleased to inform you that a consortium of three members, including WAAREERTL, has received a Letter of Award (LOA) for the Engineering, Procurement, and Construction (EPC) of a solar power project with a capacity of 125 MW AC (181.3 MWp DC) on a turnkey basis, along with Operation and Maintenance.”
The contract, valued at approximately ₹740.06 crore (inclusive of taxes), includes turnkey execution and O&M services. The order was awarded by a leading power distribution company. The specific inter-se arrangement between the consortium members will be finalised in due course.
On March 26, 2025, Waaree Renewable Technologies share price traded 2.90% higher at ₹948.85 at 9:44 AM (IST). Waaree Renewable Technologies’s share price reached a 52-week high of ₹3,037.75, and a 52-week low of ₹759.00. As per BSE, the total traded volume for the stock stood at 1.75 lakh shares with a turnover of ₹16.66 crores.
At the current price, Waaree Renewable Technologies shares are trading at a price-to-earnings (P/E) ratio of 52.51x, based on its trailing 12-month earnings per share (EPS) of ₹18.07, and a price-to-book (P/B) ratio of 30.94, according to exchange data.
These major contract wins reinforce Waaree Renewable Technologies’ growing presence in the solar EPC sector. With projects totalling nearly ₹972 crores, the company is set to play a crucial role in expanding India’s renewable energy capacity.
The successful execution of these projects will strengthen its market position and support the country’s transition to sustainable energy solutions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their research and assessments to form an independent opinion about investment decisions.
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Published on: Mar 26, 2025, 9:52 AM IST
Dev Sethia
Dev is a content writer with over 2 years of experience at Business Today, Times of India, and Financial Express. He has also contributed stories in Hindi for BT Bazaar and Khalsa Bandhan News Paper. A journalism postgraduate from ACJ-Bloomberg, Dev enjoys spending his spare time on the cricket pitch.
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