Waaree Energies Limited witnessed a sharp decline in its shares, which were trading at ₹2,464.35, down by ₹209.05 or 7.82% on the NSE at 10:55 am today.
The renowned solar module manufacturer recently clinched a significant deal, securing a Letter of Award on January 20, 2025, to supply 180 MWp of solar photovoltaic modules to an undisclosed domestic renewable energy developer. The contract entails the supply commencing in the fiscal year 2025-26.
The buyer in question is a key player in owning, developing, and operating renewable energy projects in India. This deal stands as a substantial one-time supply agreement for Waaree Energies.
Emphasizing transparency, Waaree confirmed that the contract is void of any related party transactions and that its promoter group has no involvement with the awarding entity.
Published on January 22, 2025.
