Waaree Renewable Technologies has signed a non-binding Memorandum of Understanding (MoU) with Vietnam-based Viet Khanh Joint Stock Company.
As per the MoU, Waaree will undertake engineering, procurement, and construction (EPC) work for a 100 MWp ground-mounted solar power project. The company will execute the project on a turnkey basis, meaning it will handle the entire process from design to commissioning.
The agreement was signed on June 20 at 6:00 PM under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The move by Waaree Renewable Technologies is a strategic step towards the global expansion goals
Order value yet to be finalised
The order has been awarded by an international entity. The value of the contract will be finalised at a later stage, once a definitive agreement is signed. The time period for execution is also yet to be mutually decided.
The company confirmed that this is not a related party transaction, and there is no interest held by the promoter group in the Vietnamese firm.
Share price of Waaree Renewable Technologies
The share price of Waaree Renewable Technologies had seen a significant decline over the past month. However, following today’s announcement, the stock gained 0.6 per cent and is currently trading at Rs 991.70.