Waaree Energies has recently received a Letter of Award (LoA) for the supply of solar modules amounting to 180 MWp from a well-known customer involved in the renewable energy sector in India. This customer specializes in owning, developing, and operating renewable power projects across the country. The contract falls under the guidelines of the SEBI Listing Regulations, with further details outlined in the annexed document.
The key terms of the contract include the supply of Solar PV modules. This order has been awarded by a domestic entity. It is a one-time contract, and the delivery of the solar modules is expected to commence in the fiscal year 2025-26. The order size is significant, involving the supply of 180 MWp of solar modules.
Regarding the relationship between the parties involved, there is no indication that the promoters, promoter group, or associated group companies have any interest in the customer awarding the contract. Additionally, this transaction does not qualify as a related party transaction, and all dealings have been conducted at arm’s length, ensuring transparency and fairness.
This contract represents a major step for the company in furthering its involvement in India’s renewable energy sector, particularly in solar power, and is aligned with the nation’s growing push towards sustainable energy solutions.
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