Waaree Renewable shares slip over 5% after termination of major solar EPC project
In a stock exchange filing, Waaree said it received a notice on July 19, 2025, at 3:30 p.m., informing it of the cancellation of a 125 MWAC (181.3 MWp DC) turnkey solar power project. The contract was awarded to a consortium in which Waaree was a member.
The project—originally slated to be completed within 18 months—was being executed for the Assam Power Distribution Company Limited (APDCL). However, APDCL has now called off the project after the Government of Assam decided to withdraw the plan from the Asian Development Bank (ADB) funding framework.
With the funding support no longer available, APDCL stated that continuing the project is not viable, leading to a full withdrawal of the awarded work. The scope included EPC (engineering, procurement, and construction) as well as operations and maintenance.
Waaree has not yet quantified the financial impact of this development but said it would update stakeholders as more clarity emerges. The cancellation is seen as a temporary setback for the company, which has been steadily growing its renewable energy presence both in India and abroad.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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