Powering the Future: Waaree Renewable Technologies’ Remarkable Milestone
In a resounding affirmation of its prowess in the renewable energy sector, Waaree Renewable Technologies Limited recently soared to new heights as its stock witnessed a 5 percent upper circuit. This surge follows the company securing a substantial work order valued at Rs. 547.5 Crores, catapulting it further into the realm of sustainable energy leaders.
1. The Power Play: A Lucrative Work Order
Waaree Renewable Technologies clinched a significant victory with a letter of award (LOA) worth Rs. 547.5 Crores. The accolade comes from one of the world’s premier utility companies in renewable energy, marking a pivotal moment for Waaree’s trajectory. The work order encompasses the Engineering, Procurement, and Construction (EPC) responsibilities for a Solar power plant boasting a capacity of 412 MWp /335 MWac on a turnkey basis.
2. Comprehensive Scope: Beyond Construction
The LOA extends beyond the construction phase, including Operations and Maintenance for a duration of two years post-handover takeover. The additional order value for this aspect stands at Rs. 6.798 crore. The ambitious project is slated for completion by December 2024, underscoring Waaree’s commitment to advancing the renewable energy landscape.
3. Waaree’s Diverse Portfolio: Beyond Generation
Waaree Renewable Technologies isn’t just a player in power generation; it’s a holistic force in the renewable energy domain. Engaged in power generation through renewable sources, the company also provides consultancy services in this dynamic sector. This dual role positions Waaree as a multifaceted contributor to the sustainable energy ecosystem.
4. Robust Order Book: A Testament to Trust
With an unexecuted order book surpassing 749+ MW, Waaree boasts a robust customer base featuring industry giants like Reliance Industries, BPCL, Adani, Aditya Birla, Larsen & Toubro, NTPC, Mondelez, and more. This diverse clientele underscores the trust placed in Waaree’s capabilities and its pivotal role in advancing India’s renewable energy narrative.
5. Financial Strength: A Stellar Performance
Waaree Renewable Technologies showcases impressive financial metrics, with a return on equity (ROE) reaching an outstanding 95.8 percent and a return on capital employed (ROCE) standing at a commendable 83.8 percent. These figures underscore the company’s ability to deliver significant returns on both equity and capital employed, consolidating its financial strength.
As Waaree Renewable Technologies charts a course towards the ambitious completion of the Solar power plant project, its recent achievements stand as a testament to its leadership in the renewable energy sector. The company’s holistic approach, diverse portfolio, and financial resilience position it as a key player shaping the future of sustainable energy in India and beyond.
