Waaree Technologies received a $900 million solar power project order expected to be completed within the fiscal year 2025.
On Monday, Waaree Renewable Technologies announced it received a letter of award (LOA) for executing engineering, procurement, and construction (EPC) works for a solar power project. This project, with a capacity of 30 MW DC, will be completed on a turnkey basis. The order is valued at $900 million for a solar power project. It is expected to be completed within the fiscal year 2024-2025. However, the company did not disclose the name of the entity that awarded the project.
The company’s financial performance showed remarkable growth, with revenue increasing by 347 per cent from $610 million in fiscal year 2023 to $2.73 billion in fiscal year 2024.
As of March 2024, Waaree Renewable Technologies had an executed order book of 2,365 MW and successfully executed 704MWp orders. The company’s significant projects lined up for the next 18 months, along with its successful execution of past orders, indicate a robust renewable energy sector and its growth potential.
Some significant projects in Waaree Technologies’ order book include a 70 MW ground-mounted solar power project and a 4.27 MW rooftop power project. These projects contribute to our strong position in the renewable energy sector and set the stage for our continued growth and success, reassuring our stakeholders about our future prospects.
