Waaree Energies Limited has informed the Exchange about Execution of Power Purchase Agreement by Waaree Forever Energies Four Private Limited, a wholly owned step - down subsidiary of the Company.
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Waaree Energies' wholly-owned step-down subsidiary, Waaree Forever Energies Four Private Limited, has executed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI). The agreement is for the development of a 300MW Wind Power Project located in Dwarka, Gujarat. The PPA was executed on May 6, 2026. This follows a prior intimation dated February 24, 2026, indicating the deal was in progress. SECI is a government-owned entity, making this a government-backed renewable energy contract. The document does not disclose the financial terms or value of the agreement.
The announcement indicates new project flow for Waaree Energies through its subsidiary, expanding its renewable energy portfolio. The 300MW project size is material, but without contract value details, investors cannot immediately assess revenue impact. The government offtake (SECI as buyer) provides revenue visibility and reduces counterparty risk.