Waaree Renewable Technologies Limited has informed the Exchange about Intimation of Termination of Letter of Award (LOA)-125 MWAC (181.3 MWp DC) received to consortium of members comprising our Company as one of the members
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Waaree Renewable Technologies (WAAREERTL) has received cancellation of a Letter of Award for a 125 MWAC (181.3 MWp DC) solar power project on a turnkey EPC basis, including operations and maintenance. The project was originally awarded in March 2025 to a consortium of three members, with Waaree RTL as one of the consortium partners. The order, placed by a leading power distribution company (APDCL), has been terminated because the Government of Assam withdrew project funding through an Asian Development Bank (ADB) loan, making the project unfeasible. The termination intimation was received on July 19, 2025. No financial impact or estimated loss has been disclosed in the filing.
This is a negative development for Waaree RTL as it loses a significant solar EPC project that was part of its order book. Investors may react negatively due to the loss of revenue visibility, though the reason (government funding withdrawal) is external and not company-specific. Shareholders should watch for any subsequent disclosure on the financial impact and the company's ability to replace the lost order.