Waaree Renewable Technologies Ltd has been awarded a contract to develop a 3.40 MW DC/2.77 MW AC ground-mount solar power project, the company said today. The Letter of Award (LOA) covers Engineering, Procurement, and Construction (EPC) works on a turnkey basis.
The shares of Waaree Renewable Technologies were trading at ₹1,435.95, down by ₹31.10 or 2.12 per cent on the BSE today at 2.25 pm.
The project, valued at approximately ₹8.58 crore (excluding taxes), is slated for completion in the 2024-25 financial year. WAAREERTL, a subsidiary of Waaree Energies Ltd, received the order from a domestic entity, though the client’s identity was not disclosed.
This development aligns with India’s push for renewable energy expansion. The company stated that the contract does not involve any related party transactions, and its promoter group has no interest in the awarding entity.