Waaree Renewable Technologies, a provider of solar energy solutions, announced on that it had received a "term sheet" for the engineering, procurement, and construction (EPC) of a ground-mounted solar PV project with a capacity of 2012.47 MWp DC.

The estimated value of the order is approximately Rs 12.33 billion (excluding taxes). This order pertains to the development and execution of a large-scale renewable energy project, with the timeline for its completion to be mutually decided by the parties involved.

In a regulatory filing, Waaree Renewable Technologies stated that it had received a term sheet for the EPC works related to the ground-mounted solar PV project with a capacity of 2012.47 MWp DC.

Additionally, Waaree Renewable Technologies reported a nearly threefold increase in its consolidated net profit to Rs 530.51 million during the September quarter, driven by higher income. In the same quarter last year, the company had posted a net profit of Rs 200.54 million. Total income surged to R 5.27 billion, up from Rs 1.50 billion.