Waaree Renewable wins 800 MWac solar EPC in 2026

Key development and why it matters

Waaree Renewable Technologies Limited has secured Letters of Award (LoAs) for two ground-mounted Solar PV plants with an aggregate capacity of 800 MWac / 1,082 MWp. The awards were received on July 25, 2026, adding a large set of EPC jobs to the company’s domestic order book. The company later notified the stock exchanges on July 26, 2026, confirming that the intimation was received at 12:15 pm IST on the previous day. With both projects scheduled for completion in financial year 2027-28, the mandate points to a multi-year execution cycle. The scale of the order also highlights how utility-scale solar continues to drive EPC demand in India.

What Waaree Renewable Technologies has been awarded

The two LoAs cover distinct plant capacities but are described as having similar execution timelines and commercial terms. Both are classified as commercial orders within the domestic market. The orders were awarded by one of India’s leading renewable energy companies, identified as a domestic entity. Waaree Renewable Technologies also stated that there is no promoter or group company interest in the entity awarding the contracts. It added that the transactions do not fall under related party dealings.

Project split: two plants, one aggregate capacity

The aggregate AC capacity across the two plants is 800 MWac, while peak DC capacity totals 1,082 MWp. Plant 1 is sized at 400 MWac / 530 MWp and Plant 2 at 400 MWac / 552 MWp. The combined peak capacity figure underlines the size of the equipment and balance-of-system work that typically accompanies large ground-mounted projects. For EPC contractors, such contracts tend to require tight coordination across civil works, module and inverter supply, and grid-connection schedules.

Execution timeline and delivery window

Both projects are scheduled to be completed during financial year 2027-28, as set out in the order documents. This indicates a timeline that can extend across multiple quarters, depending on site readiness, procurement, and grid integration activities. The article notes that the work will require significant resource allocation and supply chain management by Waaree Renewable Technologies. With 1,082 MWp of peak capacity involved, the projects represent a sizeable build-out even by utility-scale standards.

How the company communicated the award

Waaree Renewable Technologies said it received the awards on July 25, 2026. It then informed stock exchanges on July 26, 2026. The company’s intimation included the time of receipt of the earlier communication, stated as 12:15 pm IST the previous day. Such exchange filings are typically used by listed companies to formally disclose order wins and material additions to the order book.

Financial context: Q1FY27 performance snapshot

The order win comes alongside strong reported quarterly numbers for the period ended June 30, 2026. Waaree Renewable Technologies reported consolidated net profit of ₹118.97 crore, up 37.7% from ₹86.40 crore in the same period last year. Revenue from operations rose 53.2% to ₹924.25 crore from ₹603.19 crore in Q1FY26. EBITDA for Q1FY27 was ₹173.48 crore compared with ₹117.55 crore in the prior year, a growth of 47.58%. On a standalone basis, net profit for the quarter was ₹114.49 crore, up 32.3% from ₹86.54 crore in Q1FY26.

Segment mix highlighted in the quarter

The article attributes revenue growth to robust performance in the Engineering, Procurement, and Construction (EPC) division and newly acquired transmission and distribution segments. The EPC Contracts - Solar Power Plants segment generated revenue of ₹803.39 crore. The newly included EPC Contracts - Transmission and Distribution segment contributed ₹112.81 crore after the acquisition of Associated Power Structures Private Limited. This mix indicates that solar EPC remains the primary revenue driver, while transmission and distribution is a newer addition.

What the order means for the order book

The article describes the 800 MWac EPC contract as a material volume commitment for the company. It also notes that securing two large-scale ground-mounted solar projects simultaneously demonstrates Waaree Renewable Technologies’ ability to handle high-volume execution mandates. With completion planned for FY2027-28, the work is positioned as a longer-duration project pipeline addition rather than a near-term execution cycle.

Key facts table

Conclusion

Waaree Renewable Technologies’ two LoAs for 800 MWac of ground-mounted solar EPC work add a large domestic mandate with an FY2027-28 completion window. The company has also reported higher revenue, EBITDA, and profit for the quarter ended June 30, 2026, with solar EPC contributing the bulk of segment revenue. The next concrete milestones, based on the disclosed terms, will be project execution progress aligned to the FY2027-28 schedule and further exchange updates, if any, as implementation advances.