The Company has received Multiple Letter of Awards from M. P. Urja Vikas Nigam Limited (MPUVNL), (a Govt. of MP Enterprise).
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Waa Solar has received multiple Letters of Award from M.P. Urja Vikas Nigam Limited (MPUVNL), a Government of Madhya Pradesh enterprise, for setting up grid-connected solar PV power plants under the PM KUSUM-C Scheme's Surya Mitra Krishi Feeders Scheme. The total estimated contract value is approximately Rs. 225 crore, with execution expected within 18 months from the date of PPA signing. Power generated will be sold to MPPMCL (Madhya Pradesh Power Management Company). The order is from a domestic government entity and there is no related-party interest.
This is a sizeable order from a state government entity, which strengthens Waa Solar's order book and provides revenue visibility for the next 18 months. Given the company's size, this order is materially significant and likely to be viewed positively by the market, though execution and PPA timelines will be key to watch.