Waaree Renewable Technologies Limited, the EPC arm of the Waaree Group, has received two letters of award for the execution of engineering, procurement, and construction (EPC) work across a combined 800 MWac of ground-mounted solar photovoltaic projects. The contracts add to a growing order book for the company as it reports strong financial performance in the first quarter of fiscal year 2027.

Two Contracts Totalling 800 MWac

The two letters of award cover a pair of ground-mounted solar PV plants. The first project carries a capacity of 400 MWac, equivalent to 530 MWp, while the second project carries a capacity of 400 MWac, equivalent to 552 MWp. Together, the two assignments bring the combined EPC scope to 800 MWac and 1,082 MWp.

According to a regulatory filing made by the company, both projects are scheduled for completion during fiscal year 2027-28. No further details regarding project locations or the awarding clients were disclosed in the filing.

Q1 FY27 Financial Performance

The contract announcement comes alongside a period of notable financial growth for Waaree Renewable Technologies. In the first quarter of fiscal year 2027, the company reported revenue of USD 95.89 million, reflecting year-on-year growth of 53.23 percent compared to the same period in the prior fiscal year.

Profit after tax for the quarter stood at USD 12.34, representing year-on-year growth of 37.70 percent. The company disclosed these figures as part of its regulatory communications.

Order Book and Bidding Pipeline

The company's consolidated unexecuted order book stood at over USD 549.85 million at the time of the announcement. Waaree Renewable Technologies also highlighted the scale of its forward-looking bidding pipeline, which the company described as robust.

The pipeline comprises more than 37 GWp of solar projects under consideration, alongside over 10 GWh worth of battery energy storage system projects. In addition, the company reported transmission and distribution opportunities valued at over 2.07 billion within its active bidding pipeline, indicating the breadth of business segments the company is pursuing beyond pure solar EPC work.

About Waaree Renewable Technologies

Waaree Renewable Technologies operates as the EPC division of the broader Waaree Group. The company focuses on the execution of solar power projects through engineering, procurement, and construction contracts, functioning as a key delivery vehicle for utility-scale solar capacity in India. The latest pair of letters of award underlines the company's continued role as a significant contractor in the country's expanding solar energy sector.

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