New Delhi: Waaree Renewable Technologies Limited (WRTL), a subsidiary of Waaree Energies, on Tuesday said it has secured a Letter of Award (LOA) for the execution of an 870 MWac / 1218 MWp grid-connected ground mount solar power project.
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In a regulatory filing, the company stated, “WAAREERTL has been awarded Letter of Award (LOA) for the execution of Engineering, Procurement and Construction (EPC) works of 870 MWac/1218 MWp Grid Connected Ground Mount Solar Power Project, which includes a 33kV/400kV Substation and transmission line works. The project scope also covers two years of Operation and Maintenance (O&M) Services.”
According to the filing, the contract was awarded by Waaree Forever Energies Private Limited (WFEPL), a domestic entity and a subsidiary of Waaree’s holding company. The order value is approximately Rs 1,252.43 crore, excluding taxes.
The project is scheduled to be completed in FY2026-27, subject to statutory approvals.
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WRTL clarified in the filing that the transaction qualifies as a related party contract since the awarding entity is a group company. “Yes, WFEPL is the subsidiary company of holding company,” it noted, adding that the contract has been executed at arm’s length.