Waaree Renewable bags fresh solar EPC and O&M contracts in India

Waaree Renewable Technologies has won new solar contracts in India covering both engineering, procurement and construction (EPC) and operations and maintenance (O&M), Renewables Now reported on Friday.

The report did not disclose the size of the deals, the locations of the projects, or the clients involved. Waaree Renewable, the listed renewables arm of the Waaree group, has not publicly detailed the contract values in the coverage cited.

The win adds to a busy stretch for the company. Waaree Renewable has been building out its EPC and O&M pipeline as India pushes to add solar capacity, and the new deals keep that order book moving.

What the deals cover

EPC work means the company handles design, procurement of modules and equipment, and construction of the plant. O&M contracts keep it on site after commissioning, running and maintaining the assets for the project owner.

Bundling both is common in Indian solar tenders. Developers often prefer a single contractor for the build and the upkeep, since it cuts coordination headaches and pins responsibility on one firm.

Waaree Renewable sits within the Waaree group, which is best known for solar module manufacturing. The EPC and O&M business is a separate listed entity, and it has taken on utility-scale and commercial projects across several states.

Why it matters for the order book

India's solar buildout has kept EPC firms busy. The country has set steep renewable capacity targets, and ground-mounted and rooftop projects alike need contractors to execute them.

For Waaree Renewable, each new EPC award feeds into revenue over the construction period, while O&M deals bring recurring income once plants are running. That mix matters for a company trying to show steady earnings rather than lumpy project revenue.

The company hasn't put a number on these latest contracts in the reporting so far. Investors will likely look for details in upcoming filings and earnings commentary.

The bigger picture

Competition in Indian solar EPC is fierce. Large engineering firms, module makers with in-house EPC arms, and specialist contractors all chase the same tenders, and margins can be thin.

O&M is a different game. It's stickier work, with multi-year contracts and steadier cash flow, though it also demands a field workforce and spare-parts supply chain across scattered sites.

Waaree Renewable's latest wins land as the sector heads into a heavy execution phase. Solar tenders have been awarded in large volumes, and the companies that can build and then maintain those plants stand to gain.

The Renewables Now report did not name the projects or the states where they sit. GreenEarth News could not independently verify the contract values at the time of writing.