Waaree Renewable Technologies, the engineering, procurement, and construction (EPC) arm of the Waaree Group, has secured a letter of award from an undisclosed Indian customer for the EPC of a 28.6 MW ground-mounted solar project on a turnkey basis.

The contract is valued at approximately ₹965.1 million (~$10.74 million).

Waaree will execute this order during the financial year (FY) 2027.

In a regulatory filing, Waaree clarified that no promoter, promoter group, or group company has any interest in the project-awarding entity. This transaction will also not fall within related party transactions.

In October this year, Waaree Renewable Technologies secured a letter of award for the EPC of a 150 MW ground-mounted solar project from an undisclosed renewable energy company for approximately ₹1.56 billion (~$17.81 million).

Waaree Renewable Technologies reported a consolidated revenue from operations of ₹7.75 billion (~$87.37 million) for the second quarter (Q2) of FY 2026, a 47.73% year-over-year increase from ₹5.24 billion (~$59.14 million).

As of the first half of FY 2026, the company had an unexecuted order book of 3.48 GW to be executed between 12-15 months and a bidding pipeline of over 27 GW. During Q2, Waaree secured two ground-mounted solar projects, totaling 1,218 MW and 29.4 MW.

Waaree’s board of directors has approved a capex budget to set up 28 MW of solar power projects, each 14 MW, at two locations in Maharashtra. The board also approved the capex budget for a 37.5 MW solar power project in Bikaner, Rajasthan.

In June this year, the company received a letter of award from Purvah Green Power for the EPC of a 300 MW solar power project in Bikaner, Rajasthan. The project’s contract value is ₹3.46 billion (~$40.49 million). The project is scheduled for completion this financial year.

Last December, Waaree Renewable Technologies won an EPC contract for a 2 GW solar project in Bikaner, Rajasthan, from Sunbreeze Renewable Nine, a special-purpose vehicle of Jindal Renewables.