Waaree Renewable Technologies Ltd said the company, as part of a consortium of three members, has received a Letter of Award (LOA) for an Engineering, Procurement, and Construction (EPC) contract for a 125 MWAC (181.3 MWp DC) solar power project.

 "We are pleased to inform that a consortium of three members comprising our Company WAAREERTL as one of the members has received a Letter of Award (LOA) for Engineering, Procurement and Construction (EPC) works for solar power project of 125 MWAC (181.3 MWp DC) capacity on turnkey basis along with Operation and Maintenance," according to a stock exchange filing.

The contract, valued at approximately ₹740.06 crore (inclusive of taxes), includes turnkey project execution and operation & maintenance services. The order was awarded by a leading power distribution company.

The specific inter-se arrangement between the consortium members will be finalised in due course. The project is expected to be completed within 18 months from the contract signing date.