Waaree Renewable Technologies secures solar project order worth ₹345 crore in Rajasthan
New Delhi, Jun 3 (PTI) Waaree Renewable Technologies Ltd (WRTL) on Tuesday announced securing a solar project worth ₹ 345 crore in Rajasthan from a prominent domestic renewable energy generation company.
The project is scheduled for completion in the financial year 2025-26, the company said.
WRTL has secured a significant EPC order for a 300 MW AC (alternate current)/ 435 MW DC (direct current) ground-mounted solar photovoltaic project in Bikaner, Rajasthan.
The order, valued at more than ₹ 345 crore, was awarded by a prominent domestic renewable energy generation company, the company said, without disclosing any further details.
"This collaboration marks a significant milestone in our relationship, built on mutual trust, shared vision, and a commitment to sustainable growth. We value this partnership deeply and look forward to working closely together to deliver impactful outcomes now and into the future," said Sunil Rathi, Executive Director, WRTL.
The scope of work includes engineering, procurement, construction and commissioning of the solar plant, along with the development of a 33/220 kV pooling substation.
The project will also feature advanced robotic cleaning systems to ensure high performance and reduce long-term operations and maintenance (O&M) costs.
Waaree Renewable Technologies said it has received a letter of award for setting up a solar power project under Mukhyamantri Saur Krushi Vahini Yojana-2.0 for ₹ 114.23 crore from a leading renewable energy firm.
The project is scheduled to be completed in 2025-26 as per the terms of the order, a regulatory filing said.
The company has been awarded the Letter of Award for the execution of engineering, procurement and construction works of the solar power project including operation and maintenance (O&M) of 94 MW AC/131.6 MW DC capacity.
The order value is approximately ₹ 114.23 crore. This project will be executed under Mukhyamantri Saur Krushi Vahini Yojana-2.0.
Waaree Renewable Technologies Ltd (WRTL) posted about 83 per cent rise in its consolidated net profit to ₹ 93.76 crore in the March quarter on account of higher income.
It had reported a net profit of ₹ 51.31 crore in the January-March period of the preceding 2023-24, the company said in an exchange filing.
The company's total income rose to ₹ 481.43 crore from ₹ 275.35 crore in the same quarter a year ago. Its expenses stood at ₹ 356.25 crore against ₹ 203.27 crore in the year-ago quarter.
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