Waaree Energies Limited has secured a Letter of Award (LOA) from the Solar Energy Corporation of India Limited (SECI) for the development of a 700 MW solar power project integrated with a 700 MW/2,800 MWh Energy Storage Solution (ESS) in Solapur, Maharashtra.
The LOA was received on August 27, 2026, and was disclosed by the company under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The project will be developed through Waaree Forever Energies Private Limited (WFEPL), a wholly owned subsidiary of Waaree Energies.
Under the awarded project, Waaree Energies will develop 700 MW of solar power capacity along with a 700 MW/2,800 MWh energy storage system. The integrated renewable energy project is expected to support the delivery of firm and dispatchable renewable power.
The Power Purchase Agreement (PPA) for the project will have a 25-year tenure, commencing from the scheduled Commencement of Supply Date.
The company stated that the contract is classified as a one-time domestic order/contract. It also disclosed that neither Waaree Energies’ promoters, promoter group nor group companies have any interest in SECI and that the transaction does not qualify as a related-party transaction.
The award further strengthens Waaree Energies’ presence in large-scale renewable energy projects while highlighting the growing role of energy storage in integrating renewable power into India’s electricity grid.
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