Waaree Renewable Technologies secures 800 MWac solar EPC orders in India

Waaree Renewable Technologies Ltd has received two letters of award to execute 800 MWac (1,082 MWp) of utility-scale ground-mounted solar PV projects in India. Granted by a major domestic renewable energy developer, the engineering, procurement, and construction contracts are scheduled for completion during fiscal year 2028.

Waaree Renewable Technologies Ltd has secured two engineering, procurement, and construction (EPC) contracts for ground-mounted solar photovoltaic (PV) power plants in India, with a cumulative capacity of 800 MWac (1,082 MWp). According to official regulatory filings, the company received two distinct Letters of Award from a prominent domestic renewable energy developer for projects rated at 400 MWac/530 MWp and 400 MWac/552 MWp, respectively. Scheduled for execution and commissioning during fiscal year 2027–28, the commercial contracts represent utility-scale installations. The identity of the counterparty and financial terms were not disclosed, though the company confirmed the transaction involves no related-party interests. Headquartered in Mumbai, Waaree Renewable Technologies Ltd is an Indian solar EPC solutions provider and a subsidiary of solar PV module manufacturer Waaree Energies Ltd, specializing in utility-scale solar power infrastructure.

The contract wins highlight sustained capital deployment into utility-scale solar infrastructure across India as the nation advances toward its target of establishing 500 GW of non-fossil energy capacity by 2030. Securing over 1 GWp of combined capacity expands Waaree Renewable Technologies' operational pipeline and revenue visibility through fiscal 2028. For utility-scale project developers, partnering with established EPC entities is increasingly vital to navigating land acquisition, equipment procurement logistics, and high-voltage grid interconnection timelines amidst accelerated clean energy deployment across the country.

From an industry and policy perspective, the transaction reflects ongoing structural momentum within India's renewable energy market, where competitive auctions and corporate power purchase agreements are fueling large-scale capacity expansion. As government policies emphasize domestic content requirements and expanded transmission infrastructure, integrated engineering firms are positioning themselves as critical execution partners. Furthermore, the award illustrates a broader industry pattern where major independent power producers outsource turnkey balance-of-plant and EPC works to mitigate project execution and operational risks.

For institutional investors, market analysts, and clean technology suppliers, the order inflow underscores favorable growth prospects for engineering service providers supporting India's energy transition. The multi-year delivery window stretching through fiscal 2028 ensures steady demand for solar PV components, structural mounting equipment, inverters, and high-voltage electrical infrastructure across the domestic manufacturing supply chain. As utility-scale solar developments expand in scale, specialized EPC contractors with robust execution track records remain well-positioned to capture incremental market share in the growing South Asian renewable sector.