Shares of Waaree Energies Ltd plunged 10% after touching the day’s high of Rs 2,821.10 on 25th February. Meanwhile, the company announced that its wholly owned subsidiary, Waaree Forever Energies Private Ltd, has received a Letter of Award (LoA) from the Solar Energy Corporation of India Ltd (SECI). This award is for the development of a 300 MW wind power project in Dwarka, Gujarat.
According to a stock exchange filing dated 24th February, 2026, the project involves the construction of a 300 MW wind power plant. A domestic entity has awarded the contract. It is a one-time order.
The Power Purchase Agreement (PPA) will remain valid for 25 years from the scheduled start date of supply. Therefore, it will provide the company with long-term revenue visibility.
The filing clarified that neither the promoter nor the promoter group has any interest in the awarding entity. It also confirmed that the order is not a related party transaction.
A day earlier, on 23rd February, the company announced another major order win. It secured a 500 MW solar module supply order from a leading domestic solar power developer. This developer operates as an Independent Power Producer (IPP).
This 500 MW order is a one-time contract for FY27, with the entire supply to be completed within the agreed timeline. In addition, a domestic entity also awarded the contract.
At 2:39 PM, shares of Waaree Energies were trading 10.17% lower at Rs 2,716 on the NSE.
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