Waaree Renewable Technologies Limited has revised the scope and capacity of its existing engineering, procurement, and construction (EPC) contracts for solar photovoltaic power projects, increasing the planned module capacity under one of the contracts. Following these revisions, the combined capacity covered by the two contracts stands at 800 MWac and 1,109 MWp. The projects are scheduled for execution and completion during the financial year 2027–28.
Under the revised terms, one of the existing letters of award (LoAs) for a ground-mounted solar photovoltaic plant has undergone a change in its scope of work. The company has confirmed that the other terms and conditions of this contract remain unchanged.
The second contract has received an upward revision in both capacity and scope of work. Its capacity has increased from 400 MWac and 530 MWp to 400 MWac and 557 MWp. The revision increases the planned peak direct current capacity of the project while retaining its alternating current capacity at 400 MWac.
With these changes, the two contracts together cover 800 MWac of alternating current capacity and 1,109 MWp of peak direct current capacity. The first project accounts for 400 MWac and 552 MWp, while the second project covers 400 MWac and 557 MWp.
The revised project capacities reflect the updated scope of work agreed upon under the existing contract arrangements. The changes are expected to guide the company’s execution planning for the projects, which form part of its solar EPC business.
The contracts were awarded by a leading domestic entity operating in India’s renewable energy sector on a commercial order basis. Waaree Renewable Technologies has clarified that the awarding entity is not associated with the company’s promoters, promoter group, or group companies. Accordingly, the contracts do not fall within the category of related party transactions.
The company received formal communication regarding the contract revisions on October 23, 2026. The updated terms provide clarity on the revised project capacities and the scope of work to be undertaken under the two existing awards.
Execution and completion of both projects are planned for the financial year 2027–28. The timeline places the projects within the company’s future implementation schedule and provides a framework for completing the contracted work.
Waaree Renewable Technologies operates in the solar power sector, providing engineering, procurement, and construction services for solar energy projects. Changes to project scope and capacity can influence implementation requirements, procurement planning, and construction activities.
The revised contracts add clarity to the company’s existing project commitments, with the combined capacity remaining at 800 MWac and increasing to 1,109 MWp across the two solar photovoltaic projects.
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