Waaree RTL Gets 105 MWp Ground-Mount Solar Project

Waaree RTL Gets 105 MWp Ground-Mount Solar Project For Rs. 277.20 Cr.

By Saur News Bureau/ Updated On Mon, Jan 20th, 2025

Highlights :

The project is scheduled to be completed in the financial year 2025-26

Waaree RTL Gets 105 MWp Ground-Mount Solar Project For Rs. 277.20 Cr.

Waaree Secures Module Supply Contract For Acciona Energy’s Subsidiary Juna

Mumbai-based solar EPC company, Waaree Renewable Technologies Limited has secured a 105 MWp ground-mount solar power project. The company secured approximately Rs. 277.20 Crores (Excl. Taxes) order. The company said in the regulatory filing “The project is scheduled to be completed in the financial year 2025- 26, as per the terms of the order.”

The project win further strengthens Waaree’s order book, giving it clear visibility on work right upto 2026-27 for now. The company has, in recent months talked up a 23 GW pipeline of prospective projects that it can bid for. From the smaller, sub 100 MW projects it did till around 2023-24, it has also moved on to much larger project bids and wins now, helping it build up the pipeline much faster,

Waaree Previous Projects

Waaree RTL last year in 2024, confirmed Jindal Renewables as its 2 GW EPC Client. The 2 GW solar project came from Sunbreeze Renewables Nine Pvt. Ltd, a Special Purpose Vehicle (SPV) of Jindal Renewables.

The project will be implemented in Bikaner, Rajasthan, utilizing advanced technologies and sustainable solutions to enhance energy efficiency and maximize generation. WRTL placed the value of the deal at around Rs 1200 crores. That indicates that module procurement and possibly inverters are both being done by the client itself.

Last week, it also announced securing 99 Solar off-grid combo sets supply orders to be delivered in three months. The flurry of order wins will reassure some investors dissappointed by its Q3 results, which pointed to failure to book income on projects in time, at the very least.

Q3 Results: Waaree Renewable Reports 16.7% Dip In Net Profits

Waaree Renewable Technologies (Waaree) had announced its financial results for the third quarter (Q3) of FY25 last week. It also announced the results of the first nine months of the current financial year.

The company’s consolidated financial results revealed a steady performance, with net profits for Q3 FY25 reported at Rs 53.48 crore, slightly down from Rs 53.52 crore in Q2 FY25. However, compared to Q3 FY24, where the company reported a net profit of Rs 64.23 crore, the net profit showed a slight YoY decrease of 16.74%.