Waaree Renewable Tech Secures 285 MWp Solar EPC Contract Aiming for Completion by FY28

Market snapshot: Waaree Renewable Technologies Limited has signed a work order for the execution of Engineering, Procurement, and Construction (EPC) works for a 285 MWp solar power project. The contract, awarded by a leading Independent Power Producer (IPP), targets full project completion by FY28.

Data Snapshot

• Waaree Renewable Technologies signed a work order for EPC execution of a 285 MWp solar power project.
• The contract was awarded by a leading Independent Power Producer (IPP) company.
• Project execution is scheduled for completion within financial year 2027-28.

What's Changed

• Adds 285 MWp to Waaree Renewable's unexecuted EPC pipeline, building upon an unexecuted order book exceeding ₹5,500 crore reported in Q2 FY27.

Key Takeaways

• Waaree Renewable Technologies secured a 285 MWp solar EPC contract from an Independent Power Producer (IPP).
• The order provides revenue stream visibility extending into FY28.
• Reinforces company's position in utility-scale ground-mounted solar power EPC project execution.

SAHI Perspective

The addition of this 285 MWp order underscores sustained momentum in commercial solar EPC awards from domestic IPPs. With execution extending through FY28, the win strengthens medium-term revenue predictability alongside Waaree's expanding operational scale.

Market Implications

Continued order wins in utility-scale solar EPC signal robust capital expenditure across independent power producers in India. This trend supports revenue trajectory for turnkey EPC specialists with proven execution capabilities.

Trading Signals

Market Bias: Bullish

The 285 MWp solar EPC contract strengthens revenue visibility into FY28. This addition builds on H1 FY27 revenue of ₹1,982.09 crore and an unexecuted order book exceeding ₹5,500 crore.

Overweight: Solar EPC, Renewable Energy Infrastructure

Trigger Factors:

• Execution progress on the 285 MWp solar project toward its FY28 completion timeline.
• Subsequent utility-scale solar order announcements from domestic IPPs.
• Operational margin consistency across turnkey EPC contracts.

Time Horizon: Medium-term (3-12 months)

Industry Context

India's renewable energy sector is witnessing accelerated utility-scale capacity additions driven by government targets and aggressive IPP expansion. EPC providers with integrated execution capabilities are positioned to benefit from sustained order flows.

Key Risks to Watch

• Potential execution delays due to land acquisition or grid connectivity timelines.
• Volatility in solar component and raw material procurement costs.

Recent Developments

In October 2026, Waaree Renewable Technologies received a revised scope of work for a 217.5 MWp solar EPC project and reported H1 FY27 revenue from operations of ₹1,982.09 crore.

Closing Insight

Securing the 285 MWp solar project reaffirms Waaree Renewable Tech's strength in winning utility-scale EPC contracts, consolidating its multi-year revenue pipeline.

High Performance Trading with SAHI.