Waaree Renewable Technologies Is Aiming For Up To 40GW Capacity Addition In FY26
The company is eyeing expansions in the Middle East, Europe and Africa.
Solar energy solutions provider Waaree Renewables Technology aims to add 30 GW to 40 GW of renewable energy capacity in India in the financial year ending March 2026. At the same time, the company is looking forward to expanding its operations outside India, according to its Director Sunil Rathi.
The company is eyeing expansions in the Middle East, Europe and Africa.
“In India, we are looking at 30-40 GW of addition next year, and we have at least 20 GW of opportunity in India. We executed 150 MW in Vietnam back in 2018-19, and we want to expand our EPC (Engineering, Procurement, and Construction) arm into different regions, not just limited to India. We are also entering the Middle East, Europe and other African markets,” he said in a conversation with NDTV Profit.
Rathi expressed confidence in the company’s growth trajectory, citing a robust order book and strong execution capabilities. The company is in the process of executing orders up to 3 GW in the next financial year.
“Q4 FY25 is interesting for Waaree Renewable Technologies. The market is very promising. If you look at the ticket size of 2 MW when we started this company back in 2010, and now we are talking of a single project, single site, single PPA of two gigawatts. That’s the journey we have had. We have over 3 GW of order books for next year’s execution. That’s very promising. Before we start the next year, we have 3 GW for execution,” Rathi revealed, explaining the roadmap for the next financial year.
Rathi underscored Waaree Renewable Technologies’ ability to execute projects efficiently, highlighting its strengths in timely delivery and optimal pricing.
The company recently secured a letter of award from its promoter entity for a 170 MW AC/255 MW DC ground-mount solar power project, including Operation & Maintenance (O&M) services. The project, expected to generate a revenue of Rs 232 crore, is set for completion in FY26.
“We can execute this order, as this is in the solar park where connectivity and land are in position. So execution is much faster. We have a good time frame to complete it. We should be able to complete it within a much smaller duration, as we have a strong execution team,” Rathi added.
Shares of Waaree Renewable Technologies closed 2.31% lower at Rs 898.8 apiece on the BSE on Friday. In comparison, the benchmark Sensex ended 0.41% higher at 77,606.43.
