Waaree Renewable Technologies, an arm of Waaree Energies Ltd, announced this week it has received a Letter of Award (LoA) from one of India’s leading steel manufacturers to execute engineering, procurement, and construction (EPC) of a 221.8 MW DC solar power project.
The project was awarded by the renewable energy arm of the steel manufacturer. It is likely to be completed within the current fiscal 2023-24, as per the terms of the contract.
Waaree Renewable Technologies has end-to-end solar capabilities, including the design and manufacturing of PV modules, and the installation and commissioning of PV projects. It is also exploring opportunities in green hydrogen.
The company reported a net profit (profit after tax) of INR 24.97 crore (around $3 million) for the quarter that ended December 31, 2022, 11,250% up from INR 0.22 crore for the same period in the previous year.
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