Waaree RTL Receives 2 GW EPC Order For Ground-Mounted Solar Project

Waaree RTL Receives 2 GW EPC Order For Ground-Mounted Solar Project

Waaree Renewable Energy, the EPC arm of the Waaree Group has now received an order to develop solar projects. The total capacity of the order is 2012.47 MWp (DC capacity). The company said that these projects will be ground-mounted solar projects.

The company informed about the latest order in its filing before the stock exchange. As per the available information, the value of the order stood at Rs 1,233.47 crore. The company said that Waaree Renewable received the award from a company which is involved in the development and implementation of renewable projects in the country.

The company said that the client is an Indian company. The firm said that the time period for developing this project will be mutually decided by the two companies.

Rising order book 

The renewable energy company recently in its investors’ call said that it had an unexecuted order book of 1.7 GWp. It said that it successfully executed EPC orders of 705 megawatt peak in the first half of FY ’25. The top management of the company had also told its investor that during the Q2 of Fy25, its reported the highest ever quarterly revenues of Rs. 524.47 crores, representing a growth of nearly 3.5x year-on-year as compared to Rs. 150 crores in 2nd Quarter of FY24.

The company is now also optimistic about the growth of its Operations and Maintenance (O&M) portfolio. It said that the firm now expects a rise in its O&M business up to 2 to 3 times soon.