Waaree Renewable secures ₹114 crore solar project in Maharashtra – EQ
In Short : Waaree Renewable Technologies Limited (WRTL) has secured a ₹114.23 crore contract to develop 94 MW AC solar power projects in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0. The initiative aims to provide daytime electricity to farmers through decentralized solar generation. WRTL will oversee engineering, procurement, construction, and maintenance, with project completion expected by FY 2025–26.
In Detail : Waaree Renewable Technologies Limited (WRTL) has won a ₹114.22 crore contract to build 94 MW AC Solar PV Plants across multiple locations in Maharashtra, the company announced Friday.
The shares of Waaree Renewable Technologies Limited closed today at ₹1,031.75 up by ₹18.85 or 1.86 per cent on the NSE.
The project, awarded by an unnamed renewable energy generation company, is part of the Maharashtra government’s Mukhyamantri Saur Krishi Vahini Yojana (MSKVY) 2.0 initiative, which aims to provide daytime electricity to farmers through decentralised solar generation.
As the engineering, procurement, and construction (EPC) contractor, WRTL will handle the complete project development from design through commissioning. The contract was secured following a competitive bidding process and technical evaluations.
“This Letter of Award is more than just a project win—it’s a reaffirmation of the trust our partners place in us,” said Sunil Rathi, Executive Director of WRTL.
The project strengthens WRTL’s position in India’s rapidly expanding solar market, which has already reached 97 GW of installed capacity as of 2024, with national targets set for 280 GW by 2030.
A subsidiary of the Waaree Group, WRTL has installed over 10,000 solar projects with a cumulative capacity exceeding 2.32 GW. The company provides solar solutions to individual, industrial, and commercial customers through both on-site installations and off-site solar farms.
The Maharashtra initiative is designed to promote agricultural productivity and rural energy independence through renewable energy infrastructure.
