Shares of Waaree Renewable Technologies Ltd. surged as much as 4.25% intraday on Tuesday, after the company announced an order win for a large solar power project in Bikaner, Rajasthan.
The company has been awarded a Letter of Award to execute the engineering, procurement and construction works of a 300 MW alternating current/435 MW direct current ground-mounted solar power project by a domestic renewable generation company. The order is valued at about Rs 346.33 crore, excluding taxes, according to an exchange filing.
As per the terms of the contract, Waaree Renewable Technologies will handle the end-to-end design, procurement, construction, testing and commissioning of the solar project. It will also build a modern 33/220 kV pooling substation and integrate advanced robotic cleaning systems to enhance plant performance and reduce long-term maintenance costs. The project is slated for completion in financial year 2026.
“This project is a testament to our robust technical expertise and proven execution strength,” said Sunil Rathi, executive director at Waaree Renewable Technologies. “We look forward to working closely together to deliver impactful outcomes now and into the future.”
With this latest order, Waaree Renewable Technologies has further solidified its presence in India's solar EPC space, having already executed over 2.8 gigawatts of projects and currently managing an additional 4.4 gigawatts of projects under execution, the press release said.
Waaree Renewable Technologies Share Price Today
Waaree Renewable Technologies stock rose as much as 4.25% during the day to Rs 1,067.7 apiece on the BSE. It was trading 1.64% higher at Rs 1,041 apiece, compared to a 0.46% decline in the benchmark Sensex as of 11:42 a.m.
The stock has risen 22.62% year-to-date and 21.44% in the last 12 months.
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