Waaree Forever Energies Private Limited, a wholly-owned subsidiary of Waaree Energies Limited, has been awarded a Letter of Award (LoA) from the Solar Energy Corporation of India Limited (SECI). The contract involves the development of a 300MW Wind Power Project located in Dwarka, Gujarat. This project is governed by a Power Purchase Agreement (PPA) valid for 25 years from the scheduled commencement of supply.

The notice, dated February 24, 2026, serves as a formal intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The development of this 300MW wind power project is categorized as a “one-time” domestic entity contract. This award signifies a strategic expansion for Waaree Energies into wind power development, complementing its established leadership in the solar energy domain.

Waaree Energies Limited is India’s largest manufacturer of solar PV modules and solar cells, with a global manufacturing capacity of approximately 22.3 GW for modules and 5.4 GW for cells as of 2025. In 2025, the company was recognized as the “Overall Highest Achiever” in the PV Module Index Report by the Renewable Energy Test Centre (RETC), making it the only Indian manufacturer to receive this global distinction for two consecutive years. Recent 2025 updates include the commencement of trial production at its state-of-the-art 5.4 GW solar cell manufacturing unit in Chikhli and plans to set up a massive 20 GWh lithium-ion battery giga-factory in Andhra Pradesh with an investment of approximately ₹8,175 crore. The company has also maintained a strong order book, which stood at approximately ₹60,000 crore by the end of 2025.

For the quarter ended December 31, 2025 (Q3 FY26), Waaree Energies reported a remarkable total income of ₹7,761.23 crore, representing a 24.65% growth from the ₹6,226.54 crore recorded in the previous quarter (Q2 FY26). The consolidated net profit for the same period reached ₹1,106.79 crore, marking a 26.03% increase over the ₹878.21 crore profit in the preceding quarter. On a year-on-year basis, revenue surged by 118.64% compared to the corresponding quarter of the previous year. Notable institutional investors and funds associated with the company in 2025 include The Vanguard Group, BlackRock, Inc., Motilal Oswal Asset Management, and various Indian mutual funds such as the Parag Parikh Flexi Cap Fund and Nippon India Small Cap Fund.