Waaree Renewable Technologies (WRTL) has received letters of award for engineering, procurement, and construction contracts for two ground-mounted solar projects with a combined capacity of 800 MW.

The projects have an individual capacity of 400 MW each. The projects are scheduled to be completed during the financial year 2027-28, as per the terms of the order.

In July, Waaree clocked a consolidated revenue from operations of ₹9.24 billion (~$95.7 million) for the first quarter of the financial year 2027, a 53.23% year-over-year increase from ₹6.03 billion (~$62.49 million).

The company attributed the revenue growth to steady execution across its EPC portfolio, efficient resource deployment, and disciplined project delivery. It said the performance was achieved despite a challenging global business environment marked by geopolitical tensions, tariff uncertainties, supply chain adjustments, and regional conflicts.

As of June 30, 2026, the company had a consolidated unexecuted order book exceeding ₹53 billion (~$549.2 million).

Waaree’s bidding pipeline comprises more than 37 GW of solar projects, over 10 GWh of battery energy storage system projects, and transmission and distribution opportunities worth over ₹200 billion (~$2.07 billion).

In February, the company announced plans to set up a 16 GWh integrated lithium-ion battery manufacturing plant in Rambili, Anakapalli, Andhra Pradesh. The facility will be set up with an investment of ₹81.75 billion (~$901.26 million).

The integrated greenfield lithium-ion manufacturing plant will cover the entire battery value chain, including cell manufacturing, battery packs, and large-scale battery energy storage systems.

In January, Waaree announced the acquisition of a 55% equity stake in power transmission and distribution company Associated Power Structures (APSL) for around ₹12.25 billion (~$133.6 million). APSL has operations across India and select international markets. For the financial year ended March 31, 2025, APSL reported a turnover, including other income, of ₹12.22 billion (~$133.8 million). It has a net worth of ₹3.39 billion (~$37 million).

With the acquisition, Waaree aims to strengthen its capabilities in power transmission and distribution infrastructure, complementing its renewable energy portfolio and supporting the delivery of end-to-end clean energy solutions.