The company said it received the order from a renowned customer who is a developer and owner-operator of utility scale solar and energy storage projects across the United States.
The delivery of the module supply is scheduled to be in the ongoing calendar year.
Last month, the same wholly-owned subsidiary received an order worth $176 million for the supply of 586 MW solar modules.
The supply of 599 MW solar modules is expected is scheduled to begin from the financial year 2027.
A week prior to this order, the company’s board approved the acquisition of Kamath Transformers Pvt. Ltd. for ₹293 crore.
The acquisition is part of Waaree Energies’ business expansion activity and will be completed in the ongoing fiscal year. The company will acquire 100% shareholding in Kamath Transformers on a cash consideration basis.
The company’s board also approved the acquisition of newly-incorporated non-operating company Green New Delhi Forever Energy Pvt Ltd by Waaree Forever Energies Pvt Ltd, which is a wholly-owned subsidiary of the company. The acquisition is solely for facilitating and holding specific power projects under the independent power producer (IPP) framework.
Shares of Waaree Energies gained 4.2% to hit an intraday high of ₹2,956 apiece on Wednesday, January 11. The stock was trading 3.28% higher at ₹2,931 apiece at 12.25 pm. It has gained 9.44% in the past month.
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