FII Stake Increases: Renewable EPC Company Secures 300 MW Solar EPC Order For Utility-Scale Project
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Waaree Renewable Technologies has secured a 300MW/450MWp ground-mounted solar EPC contract from its subsidiary Sunsational Power, including two years of O&M services, with completion targeted in FY27.
✨ Key Takeaways
On Monday, Indian equity benchmarks traded lower, with the benchmark Nifty 50 index declining 1.04 per cent to 23,123.00. Amid the broader market weakness, Waaree Renewable Technologies share price traded at Rs 947.35, down 2.36 per cent from the previous close, after the company announced a new EPC contract for a utility-scale solar project.
Receives Letter Of Award For Solar Project
Waaree Renewable Technologies Limited (WAAREERTL) informed the stock exchanges that it has received a Letter of Award for the execution of an Engineering, Procurement and Construction (EPC) contract for a 300MW/450MWp ground-mounted solar project. The company received intimation of the order on June 8, 2026, at 10:47 a.m. IST.
The scope of work includes complete EPC services for the development of the solar project along with operation and maintenance services for a period of two years after commissioning.
Project Details
The aggregate project size stands at 300MW/450MWp. The EPC scope covers engineering design, procurement, supply, installation, testing and commissioning of the ground-mounted solar facility.
In addition, the contract includes comprehensive operation and maintenance support aimed at ensuring the operational performance of the project for two years following completion.
The project is scheduled to be completed during FY27 in accordance with the terms of the award.
Related Party Transaction
The contract has been awarded by Sunsational Power Private Limited (SPPL), a wholly owned subsidiary of Waaree Renewable Technologies Limited.
The company classified the transaction as a related party transaction and disclosed that the promoter, promoter group and group companies have an interest in the awarding entity due to SPPL's status as a wholly owned subsidiary. WAAREERTL further classified the award as a domestic commercial order.
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Strengthens EPC Execution Pipeline
The addition of the 300MW/450MWp project strengthens the company's execution pipeline in the domestic renewable energy sector.
Ground-mounted solar projects of this scale typically involve integrated engineering, module procurement, balance-of-system supply, civil works, grid connectivity and commissioning activities. The inclusion of operation and maintenance services provides continuity in asset management after project completion.
The order further expands the company's EPC portfolio and reinforces its presence in utility-scale solar development.
About Waaree Renewable
Waaree Renewable Technologies Ltd is engaged in solar EPC services and renewable energy project execution. The company undertakes engineering, procurement, construction, commissioning, operation and maintenance activities for solar power projects across India. According to the latest shareholding pattern, Foreign Institutional Investors (FIIs) increased their stake in Waaree Renewable Technologies Limited from 1.70 per cent in the December 2025 quarter to 1.85 per cent in the March 2026 quarter, reflecting a rise of 15 basis points during the quarter.
The company is part of the Waaree Group and operates in the renewable energy sector, focusing on utility-scale and commercial solar projects.
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Disclaimer: The article is for informational purposes only and not investment advice.