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Sun, 05 Jul 2026
12:21:11 am
Sun, 05 Jul 2026
12:21:11 am
Rudransh Sangwan
Published at: May 19, 2026, 12:22 AM
Synopsis
Waaree Renewable Technologies secured a turnkey EPC contract for a 350MW/1400MWh grid-connected Battery Energy Storage System project from Waaree Forever Energies Private Limited. The domestic commercial order includes two years of operation and maintenance services and is scheduled for execution during FY2026-27.
Waaree Renewable Technologies has secured a major turnkey Engineering, Procurement, and Construction (EPC) contract for a 350MW/1400MWh grid-connected Battery Energy Storage System (BESS) project.
The company disclosed the development under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations after receiving intimation of the order on May 18, 2026.
The contract has been awarded by Waaree Forever Energies Private Limited (WFEPL), which is a subsidiary of the holding company of Waaree Renewable Technologies.
Apart from the EPC scope, the project also includes two years of operation and maintenance services. The project execution is targeted for completion during FY2026-27.
The latest order strengthens the company’s position in India’s rapidly expanding battery energy storage and renewable energy infrastructure sector.
The contract involves development of a grid-connected Battery Energy Storage System designed to support renewable energy integration and grid stability.
Battery Energy Storage Systems are becoming increasingly important as India expands renewable energy capacity and modernizes electricity infrastructure.
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| Parameter | Details |
|---|---|
| Company | Waaree Renewable Technologies |
| Awarding Entity | Waaree Forever Energies Private Limited |
| Contract Type | Turnkey EPC Contract |
| Project Type | Grid-Connected Battery Energy Storage System |
| Power Capacity | 350 MW |
| Energy Capacity | 1400 MWh |
| Additional Scope | 2 Years Operation & Maintenance |
| Nature of Contract | Domestic Commercial Order |
| Execution Timeline | FY2026-27 |
| Related Party Transaction | Yes, at arm’s length |
The order represents a significant addition to the company’s renewable energy and storage infrastructure project portfolio.
The project combines both power capacity and energy storage capacity.
| Component | Capacity |
|---|---|
| Power Capacity | 350 MW |
| Energy Storage Capacity | 1400 MWh |
The 350 MW rating refers to the system’s maximum discharge capability, while the 1400 MWh capacity reflects the total energy storage capability of the battery system.
Large-scale BESS infrastructure is increasingly being deployed to:
India’s clean energy transition has accelerated demand for utility-scale energy storage systems.
Battery Energy Storage Systems play a critical role in renewable energy infrastructure because solar and wind generation can fluctuate depending on weather conditions.
BESS projects help address intermittency challenges by storing electricity and supplying it when required.
| Benefit | Purpose |
|---|---|
| Grid Stability | Supports stable power supply |
| Renewable Integration | Balances solar and wind generation |
| Peak Load Management | Helps manage demand spikes |
| Energy Reliability | Improves power availability |
| Clean Energy Transition | Supports renewable adoption |
India has been increasingly focusing on battery storage infrastructure to support long-term renewable energy targets and grid modernization efforts.
Under the turnkey EPC contract, Waaree Renewable Technologies will handle the full project execution cycle.
The agreement also includes two years of post-commissioning operation and maintenance services.
Turnkey EPC contracts are significant because they provide end-to-end execution responsibility and long-term project engagement opportunities for infrastructure companies.
The company clarified that the order constitutes a related party transaction because the awarding entity, WFEPL, is a subsidiary of the holding company.
However, Waaree Renewable Technologies stated that:
| Parameter | Details |
|---|---|
| Related Party Status | Yes |
| Reason | Awarding entity is subsidiary of holding company |
| Transaction Basis | Arm’s Length |
| Regulatory Disclosure | SEBI Regulation 30 Compliance |
The disclosure was made as part of regulatory transparency requirements.
India’s renewable energy sector has witnessed rapid growth in battery storage demand because energy storage systems are increasingly required alongside solar and wind power projects.
The government and private sector have been investing heavily in:
Battery storage is expected to become a major component of India’s long-term clean energy infrastructure strategy.
Waaree Renewable Technologies operates in renewable energy engineering, EPC services, and infrastructure development.
The company has exposure across:
The latest order further strengthens its position in India’s fast-growing energy transition and battery storage market.
The company’s stock performance has remained volatile amid changing renewable energy market trends and sector-wide movements.
| Period | Stock Return |
|---|---|
| 1 Day | -0.91% |
| 5 Days | -9.19% |
| 1 Month | -10.16% |
| 6 Months | -19.74% |
| 1 Year | -7.81% |
| 5 Years | +9.06% |
Investors continue monitoring the company’s project pipeline, renewable energy opportunities, and energy storage expansion plans.
Waaree Renewable Technologies’ 350MW/1400MWh BESS EPC contract marks a significant development in India’s growing battery energy storage and renewable infrastructure sector.
The project strengthens the company’s capabilities in utility-scale energy storage execution and reflects rising demand for grid-connected storage systems as India accelerates its clean energy transition.
With increasing investments in renewable integration, grid modernization, and large-scale storage infrastructure, battery energy storage systems are expected to remain a major growth segment within the energy sector.
Waaree Renewable Technologies secured a turnkey EPC contract for a 350MW/1400MWh grid-connected Battery Energy Storage System (BESS) project.
The contract was awarded by Waaree Forever Energies Private Limited.
The project includes:
The project also includes two years of operation and maintenance services.
The project execution is targeted for completion during FY2026-27.
A Battery Energy Storage System stores electricity and helps stabilize power supply, improve renewable energy integration, and manage electricity demand fluctuations.
BESS infrastructure supports:
Yes, the company confirmed that the order qualifies as a related party transaction because the awarding entity is a subsidiary of its holding company. The transaction was conducted at arm’s length.
EPC stands for Engineering, Procurement, and Construction. EPC companies manage project design, equipment procurement, construction, commissioning, and delivery.
The company operates in renewable energy infrastructure, solar EPC projects, utility-scale clean energy systems, and energy storage solutions.
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