Waaree Forever Energies Private Limited, a wholly owned subsidiary of Waaree Energies, received a Letter of Award (LoA) on February 24, 2026. The award is from the Solar Energy Corporation of India Limited for the development of a large-scale 300MW Wind Power Project located in Dwarka, Gujarat. The associated Power Purchase Agreement is set for a substantial 25-year term, reinforcing the company’s commitment to renewable energy generation.
Major Renewable Energy Award Secured
Waaree Energies Limited has announced a significant development concerning its subsidiary, Waaree Forever Energies Private Limited. The subsidiary has officially received a Letter of Award (LoA) from the Solar Energy Corporation of India Limited. This vital award was confirmed on February 24, 2026.
Project Details and Scale
The subject of the LoA is the development of a substantial 300MW Wind Power Project. This large-scale renewable energy endeavor will be situated in Dwarka, Gujarat. This development underscores the Company’s continued expansion in utility-scale power generation.
Power Purchase Agreement Term
A key aspect of the contract is the duration of the Power Purchase Agreement. The agreement is stipulated to be valid for a considerable period of 25 years, commencing from the scheduled date of supply. The nature of this specific contract is classified as a One time arrangement.
Related Party Disclosure
The disclosure confirms that the awarding entity, Solar Energy Corporation of India Limited, is a Domestic Entity. Furthermore, the Company has confirmed that neither its promoters nor its group companies hold any interest in the awarding entity. Consequently, the order does not fall under the purview of related party transactions, ensuring it is conducted at arm’s length.
Source: BSE
