Waaree Renewable Technologies Ltd (WRTL), a subsidiary of Waaree Energies Ltd, has secured a Letter of Acceptance (LOA) from a Public Sector Undertaking (PSU) to build of a 5 MWp grid-connected solar photovoltaic project in India. Under the contract, WRTL will handle Engineering, Procurement and Construction (EPC) services, paired with comprehensive Operations and Maintenance (O&M) responsibilities for 10 years.
According to a statement by the company, the EPC portion of the project is expected to be completed within 12 months from the date of issuance of the Letter of Acceptance. After the EPC work is completed, WRTL will also provide O&M services for 10 years, as specified under the contract terms.
Also, the company has not disclosed the details regarding the PSU, project location or the financial value of the contract. However, it has confirmed that neither its promoters nor its promoter group companies have any interest in the entity awarding the contract. Moreover, as disclosed in the regulatory filing, this contract is not a related-party transaction.
The project strengthens WRTL’s solar EPC pipeline and guarantees long-term engagement through 10 years of O&M services, reinforcing its footprint in renewable infrastructure and renewable development maintenance.
