Key Highlights
- Waaree Energies’ wholly owned subsidiary Waaree Forever Energies Private Limited received an LOA from SECI.
- The award covers development of a 700 MW solar power project in Solapur, Maharashtra.
- The project also includes a 700 MW/2,800 MWh Energy Storage Solution.
- The Letter of Award was received on August 27, 2026.
- The associated Power Purchase Agreement will be valid for 25 years from the scheduled commencement of supply.
- The contract is classified as a one-time award from a domestic entity.
- The regulatory filing did not disclose a specific monetary value for the project.
Waaree Energies Limited has announced that its wholly owned subsidiary, Waaree Forever Energies Private Limited (WFEL), has received a Letter of Award (LOA) from Solar Energy Corporation of India Limited (SECI) for the development of a large-scale renewable energy project in Maharashtra.
The LOA was received on August 27, 2026, and covers the development of a 700 MW solar power project along with a 700 MW/2,800 MWh Energy Storage Solution (ESS) in Solapur, Maharashtra.
The project combines utility-scale solar generation with energy storage infrastructure, which is intended to support the integration and supply of renewable power. The award has been made by SECI, a domestic entity, and has been classified as a one-time contract.
According to the company’s regulatory disclosure, the associated Power Purchase Agreement (PPA) will be valid for 25 years from the scheduled commencement of the supply date. The filing did not disclose a specific monetary contract value for the project.
Waaree Energies stated that there is no promoter or promoter-group interest in the entity awarding the contract. The company also disclosed that the transaction does not fall under related-party transactions.
The latest award adds to Waaree Energies’ renewable energy project portfolio and strengthens the group’s presence in solar power generation and energy storage solutions. The combination of 700 MW of solar capacity with 2,800 MWh of storage represents a significant renewable energy development for the Solapur region.
