Waaree Renewable Technologies has secured a ₹114.23 crores EPC and O&M contract for a 94 MW solar project under MSKVY 2.0, strengthening its role in India’s renewable energy mission
Waaree Renewable Technologies Limited announced on Friday that it has received a Letter of Award (LOA) for a significant solar power project under the Mukhyamantri Saur Krushi Vahini Yojana-2.0 (MSKVY 2.0). The contract, valued at ₹114.23 crores, involves the Engineering, Procurement, and Construction (EPC) of a solar power project with a capacity of 94 MW AC / 131.6 MW DC. The scope also includes the Operation and Maintenance (O&M) of the solar installation.
Project details and timeline
The project is set to be completed by the financial year 2025-26, following the terms outlined in the order. The contract marks a key milestone for Waaree Renewable Technologies, as it expands its footprint in the renewable energy sector through this large-scale initiative.
The project will be executed domestically under the state government's Mukhyamantri Saur Krushi Vahini Yojana-2.0, which aims to boost solar energy capacity to support agricultural and rural development. Waaree will handle the entire EPC process along with ongoing operational responsibilities, ensuring efficient delivery and management of the 94 MW AC capacity plant.
Strategic importance of the contract
The order's value of ₹114.23 crores reflects Waaree's capability and growing presence in the solar energy market. The company will be responsible for the ground-mounted solar power project's execution, maintaining the system to deliver consistent clean energy output.
This project aligns with Waaree Renewable Technologies' strategic goals to expand renewable infrastructure and contribute to India's sustainable energy targets.
Future outlook
With this new EPC and O&M contract, Waaree Renewable Technologies reinforces its position as a prominent player in India's renewable energy sector. The successful execution of the 94 MW solar project will contribute significantly to clean energy generation and support the country's green energy ambitions. As of 12:40 PM on May 19, 2025, the shares of Waaree Renewable Technologies were trading at ₹1,059.75 per share, up by 3.05% on the National Stock Exchange (NSE).
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