en.Wedoany.com Reported - Waaree Renewable Technologies (Waaree) has signed a letter of award with its wholly-owned subsidiary Sunsational Power Private (SPPL) to develop a 300 megawatt (MW) and 450 megawatt peak (MWp) ground-mounted solar project. Under the contract terms, Waaree will provide engineering, procurement, and construction (EPC) services, along with two years of operation and maintenance services. The project scope includes site engineering, equipment procurement, and construction management for the entire installation process.

According to the order terms, the project is scheduled for completion in the fiscal year 2026-27. The order is expected to support Waaree's order book, although the company has recently noted a market slowdown. Company disclosures show an existing order book of 2.8 gigawatts and an order pipeline of approximately 36 gigawatts, of which about 23 gigawatts come from the domestic market and 12 gigawatts from international markets. The company attributes the slowdown to market conditions and evolving timelines in bilateral discussions.

Manmohan Sharma told investors that such fluctuations are expected, and the company continues to receive orders while executing projects. He noted that despite executing projects and achieving revenue of over 33 billion rupees, Waaree has maintained its order book. Execution in the current fiscal year roughly matches the inflow of new orders. Sharma stated that the order pipeline evolves through bilateral discussions, and the company may secure more orders in the next quarter, a trend expected to continue throughout the year. This 300 MW project will increase the company's under-construction capacity and support near-term revenue visibility. The order aids near-term execution plans and reinforces the group's service-oriented approach. The contract highlights the group's focus on ground-mounted solar assets and lifecycle services.

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