Magazine

Last edition
January-February 2025

Home › Renewable energy ›Waaree RTL Consortium Secures INR 740 Cr EPC Contract for 125 MWAC Solar Projects

Waaree RTL Consortium Secures INR 740 Cr EPC Contract for 125 MWAC Solar Projects

Waaree Renewable Technologies, as part of a three-member consortium, has secured a INR 740.06 crore EPC contract for a 125 MWAC solar power project.

March 12, 2025. By Mrinmoy Dey

Waaree Renewable Technologies, the solar EPC arm of the Waaree Group, has announced that a consortium of three members including the company has secured an EPC work order for a 125 MWAC solar power project. The estimated value of the order is INR 740.06 crore.

“A consortium of three members comprising our Company WAAREERTL as one of the members has received a Letter of Award (LOA) for Engineering, Procurement and Construction (EPC) works for solar power project of 125 MWAC (181.3 MWp DC) capacity on turnkey basis along with Operation and Maintenance,” shared the company in a regulatory filing.

It further added that The project is scheduled to be completed within 18 months from the date of signing of contract. “The inter se arrangement between the consortium members shall be finalised in due course,” it said.

In January 2025, the company received EPC work order worth INR 277.20 crore for 105 MWp ground-mounted solar project on a turnkey basis from a domestic wind energy company.

In December 2024, the company secured its largest-ever EPC contract for a 2 GW solar project from Sunbreeze Renewables Nine, a Special Purpose Vehicle (SPV) of Jindal Renewables. The project will be implemented in Bikaner, Rajasthan, utilising advanced technologies and sustainable solutions to enhance energy efficiency and maximise generation.

The company posted impressive financial results for the third quarter and the nine months ending December 31, 2024 (9M FY25). As per the firm, the company achieved a revenue of INR 1,121.17 crore, reflecting an 85.87 percent year-on-year (YoY) growth compared to INR 603.19 crore in the same period last year. The growth in revenue was driven by a strong execution of projects in the company's EPC segment.

In terms of profitability, the firm recorded an EBITDA of INR 184.57 crore for 9M FY25, which marks a rise of 39.95 percent YoY from INR 131.89 crore in the previous year. The company's profit after tax (PAT) also saw a healthy increase, rising by 43.94 percent YoY to reach INR 135.16 crore, compared to INR 93.90 crore in 9M FY24.

Tags:

Solar PV

Waaree Renewable Technologies

Waaree Group

Solar EPC projects

Waaree RTL solar EPC business