Waaree Revises 1,000 MWp Solar Order Value

12 Jan 2026 CW Team

The revision was undertaken after reassessing evacuation infrastructure requirements and optimising DC overloading parameters. As a result, the commercial order value has been reduced to about Rs 10.40 billion from Rs 12.52 billion, excluding taxes, implying a downward revision of roughly Rs 2.13 billion. The company said the adjustment reflects proportional optimisation to ensure efficient project design and seamless grid integration.

The solar project is scheduled for completion in FY 2026–27 in line with the revised contract terms.

In the second quarter of FY26, Waaree Renewable Technologies reported strong financial growth across key metrics. Revenue rose 47.7 per cent year-on-year to Rs 7.75 billion from Rs 5.24 billion in Q2 FY25. Profit after tax more than doubled, increasing 117.4 per cent to Rs 1.16 billion from Rs 0.54 billion a year earlier. EBITDA climbed to Rs 1.58 billion, compared with Rs 0.72 billion in the corresponding quarter last year.

For the first half of FY26, consolidated revenue stood at Rs 13.78 billion, an increase of 81.1 per cent year-on-year. Like other solar EPC players, the company said it is increasingly focusing on storage-linked projects, which are expected to gain prominence by FY28.

The broader Waaree Group continues to invest in building a vertically integrated clean energy manufacturing ecosystem covering solar modules, inverters, batteries and energy storage systems. Group company Waaree Energies Limited recently commissioned a new solar inverter manufacturing facility at Sarodhi-Valsad in Gujarat, with two production lines of 1.525 GW each, taking the plant’s total capacity to 3.05 GW.

Meanwhile, Waaree Energy Storage Solutions has raised around Rs 10.03 billion from a consortium of investors to support the establishment of a 20 GWh lithium-ion cell and battery pack manufacturing facility, further strengthening the group’s presence across the clean energy value chain.

Waaree Renewable Technologies Limited on Thursday, January 8, said it has received a letter of award for a revised 704 MWac / 1,000 MWp grid-connected ground-mounted solar power project, following design and infrastructure optimisation. The revision was undertaken after reassessing evacuation infrastructure requirements and optimising DC overloading parameters. As a result, the commercial order value has been reduced to about Rs 10.40 billion from Rs 12.52 billion, excluding taxes, implying a downward revision of roughly Rs 2.13 billion. The company said the adjustment reflects proportional optimisation to ensure efficient project design and seamless grid integration. The solar project is scheduled for completion in FY 2026–27 in line with the revised contract terms. In the second quarter of FY26, Waaree Renewable Technologies reported strong financial growth across key metrics. Revenue rose 47.7 per cent year-on-year to Rs 7.75 billion from Rs 5.24 billion in Q2 FY25. Profit after tax more than doubled, increasing 117.4 per cent to Rs 1.16 billion from Rs 0.54 billion a year earlier. EBITDA climbed to Rs 1.58 billion, compared with Rs 0.72 billion in the corresponding quarter last year. For the first half of FY26, consolidated revenue stood at Rs 13.78 billion, an increase of 81.1 per cent year-on-year. Like other solar EPC players, the company said it is increasingly focusing on storage-linked projects, which are expected to gain prominence by FY28. The broader Waaree Group continues to invest in building a vertically integrated clean energy manufacturing ecosystem covering solar modules, inverters, batteries and energy storage systems. Group company Waaree Energies Limited recently commissioned a new solar inverter manufacturing facility at Sarodhi-Valsad in Gujarat, with two production lines of 1.525 GW each, taking the plant’s total capacity to 3.05 GW. Meanwhile, Waaree Energy Storage Solutions has raised around Rs 10.03 billion from a consortium of investors to support the establishment of a 20 GWh lithium-ion cell and battery pack manufacturing facility, further strengthening the group’s presence across the clean energy value chain.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Infrastructure Energy

06 Apr 2026

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Real Estate

06 Apr 2026

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..