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Waaree Renewable Technologies has received a contract to develop a 300 MW solar project, planned to be completed by FY27. The company has received the new order from its wholly owned subsidiary, Sunsational Power Private Limited (SPPL), for the development of the large-scale solar project.
{alcircleadd}Under the agreement, Waaree will handle the construction of a 300 MW/450 MWp ground-mounted solar power project. The contract also includes operation and maintenance services for two years after the project is commissioned.
The company said the project is expected to be completed during FY 2026-27.
The order comes at a time when investors have been closely watching the company's project pipeline and order inflows.
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During a recent investor interaction, management said Waaree Renewable currently has an order book of around 2.8 GW. The company is also pursuing a much larger pipeline of about 36 GW across domestic and overseas markets.
According to management, nearly 23 GW of the opportunities being tracked are in India, while around 12 GW are from international markets.
Company officials said order inflows and execution tend to move in cycles but added that new projects continue to come in even as existing contracts are being completed.
Management noted that the company has executed projects worth more than INR 33,000 million (USD 345.9 million) while maintaining its order book at a stable level. According to the company, the volume of new orders being received is broadly keeping pace with ongoing project execution.
Waaree also said discussions for additional projects are continuing and that the order pipeline is expected to evolve further over the coming quarters.
The company expects more order wins during the year as it continues to pursue opportunities in both domestic and international solar markets.
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