Waaree Renewable Technologies has entered into a new engineering, procurement and construction (EPC) agreement for the development of a ground mounted solar photovoltaic project with a capacity of 300 MWac or 420 MWp. The project is expected to be executed over the next few years and is scheduled for completion during the financial year 2027–28. Details of the contracting counterparty and financial value of the project were not disclosed in the available information.

The contract comes at a time when India’s renewable energy sector continues to see strong project pipelines as the country accelerates its transition toward cleaner power generation. Utility scale solar capacity additions remain a central pillar of India’s strategy to meet long term energy security and climate commitments. Large EPC contractors such as Waaree Renewable Technologies have increasingly positioned themselves to benefit from this sustained capex cycle in solar infrastructure.

According to available information, the project will involve the development of a ground mounted solar PV installation. EPC contracts in this segment typically include the design, procurement of modules and balance-of-system components, civil construction, installation, and commissioning of solar generation assets. For EPC providers, the scale and execution timeline of such projects can significantly shape revenue visibility over the medium term.

The latest order follows another contract secured by the company earlier in the year. In January, Waaree Renewable Technologies signed an agreement worth ₹37.96 crore for the execution of EPC works related to a 10 MWac or 14 MWp ground mounted solar PV project in Uttar Pradesh. That project is being executed on a turnkey basis, indicating that the company is responsible for the full lifecycle of engineering, construction, and delivery.

The addition of new EPC contracts suggests that the company continues to maintain traction in India’s solar project development ecosystem. The country has witnessed an acceleration in renewable energy auctions, project allocations, and transmission investments as part of its long term clean energy roadmap. Government policies aimed at increasing domestic solar manufacturing and boosting solar installations have also created a supportive environment for EPC contractors.

Despite these operational developments, Waaree Renewable Technologies’ stock performance has remained under pressure in recent months. The share price has declined more than 24 percent over the past six months, reflecting a broader correction seen across several renewable energy stocks after sharp rallies in earlier periods.

In the previous trading session, the stock closed at ₹798.35 on the NSE, gaining ₹4.25 or about 0.54 percent during the day. However, the broader trend shows that the stock is trading significantly below its peak levels. It had touched a 52 week high of ₹1,358.50 in October 2025, while the 52 week low stands at ₹732.05 recorded in April 2025.

At the current level, the stock remains about 41 percent below its 52 week high, though it is still around 9 percent above the yearly low. The company’s market capitalisation stands at approximately ₹8,330 crore.

More information on the solar EPC ecosystem and India’s renewable expansion roadmap can be found through publicly available policy resources such as https://mnre.gov.in.