WAAREERTL Secures 30 MW Solar Power Project EPC Contract
WAAREERTL secures a 30 MW solar power project EPC contract worth INR 90.29 crore, based on a turnkey basis, to be completed by FY 2024-25.
by Damodharan N
Updated Jul 16, 2024
Article continues below advertisement
Table of Content
WAAREERTL has announced that it has received a Letter of Award (LOA) for the execution of Engineering, Procurement, and Construction (EPC) works for a 30 MW DC solar power project. This project, valued at approximately INR 90.29 crore (excluding taxes), will be executed on a turnkey basis.
The award has been given by one of the world's most diversified manufacturers of specialized seamless tubes. Under the terms of the contract, Waaree Renewable Technologies Limited will develop the project for its respective customers. This is a domestic order and the project is scheduled for completion within the financial year 2024-25.
The new solar power project will be a commercial order, reinforcing WAAREERTL's commitment to delivering high-quality renewable energy solutions in line with the latest industry standards.
Get the full release Here
Market Reaction
On July 12th, the share price on the BSE was Rs 1,912. After the LOA news broke on July 15th, the price increased to Rs 1,950 and Rs 1,960. Midday, the price dipped to Rs 1,920 but later climbed to Rs 1,962. The overall change for the day was Rs 1,967.95, up by Rs 19.70 (+1.01%). This morning, the stock opened at around Rs 1,974 Rs
Get the Stock price on BSE Here
Waaree Renewable Technologies
Waaree Renewable Technologies Limited (WRTL) is a subsidiary of Waaree Energies Limited, leading the Solar EPC sector with over 10,000 installed solar projects and a total operating capacity of 600+ MW.
Headquartered in Mumbai, WRTL finances, constructs, owns, and operates solar projects across various geographies, focusing on commercial and industrial customer segments.
The company provides clean energy solutions through on-site solar projects (rooftop and ground-mounted) and off-site solar farms (open-access solar plants). WRTL emphasizes reducing carbon footprints and creating a sustainable environment.
WRTL has made significant strides, including commissioning the first floating solar project in Gujarat and the first international EPC project in Vietnam. The company also powers the world's first solar-powered data center building.
WAAREERTL Secures 30 MW Solar Power Project EPC Contract - FAQs
1. What is WAAREERTL's recent announcement about?
WAAREERTL has secured a contract for a 30 MW solar power project.
2. Who awarded the contract to WAAREERTL?
The contract was awarded by a leading manufacturer of specialized seamless tubes.
3. What is the value of the contract?
The contract is valued at approximately INR 90.29 crore, excluding taxes.
4. What does EPC stand for in this context?
EPC stands for Engineering, Procurement, and Construction.
5. When is the project scheduled for completion?
The project is expected to be completed by the financial year 2024-25.
6. Where will the project be executed?
This is a domestic project, meaning it will be executed within India.
7. What type of basis is the project being executed on?
The project is based on a turnkey basis, where WAAREERTL will handle all aspects from start to finish.
8. What is the focus of WAAREERTL's business?
WAAREERTL focuses on providing high-quality renewable energy solutions.
9. How does WAAREERTL contribute to reducing carbon footprints?
By developing and operating solar projects, WAAREERTL promotes clean energy and sustainability.
10. What notable achievements has WAAREERTL made in the renewable energy sector?
WAAREERTL has commissioned over 10,000 solar projects and operates with a capacity exceeding 600 MW.
Disclaimer : The above information is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.