Announcement
Waaree Renewable Technologies Ltd (WRTL), a subsidiary of Waaree Energies Ltd and a leading EPC firm in India’s renewable sector, announced on 27 July 2026 that it has signed an Early Contractor Involvement (ECI) agreement with a special purpose vehicle (SPV) of a top global independent power producer (the “Principal”). The agreement concerns the development of a utility‑scale solar photovoltaic (PV) project integrated with a Battery Energy Storage System (BESS) in New Zealand. The ECI covers limited early‑stage work; upon successful completion, the Principal may award the full EPC contract to the consortium.
Project Structure and Partners
The project will be executed by a consortium comprising WRTL and two experienced local New Zealand companies. WRTL will lead solar supply and engineering, while the local partners will provide market knowledge and support. The integrated solar‑PV and BESS asset is expected to become one of the largest solar installations in New Zealand and will contribute to the country’s transition to a cleaner energy mix, improve grid reliability and enhance energy resilience.
Strategic Significance
The agreement marks WRTL’s strategic entry into the Australia and New Zealand (ANZ) renewable energy market, aligning with its long‑term vision to become a globally recognised renewable‑energy solutions provider. The ANZ region is highlighted as an attractive destination for renewable investments due to ambitious decarbonisation targets, rising electricity demand and growing deployment of energy‑storage solutions. WRTL expects the New Zealand project to open further opportunities across ANZ and other international markets, diversifying its portfolio and creating long‑term stakeholder value.
Executive Commentary
Sunil Rathi, Executive Director of Waaree Renewable Technologies Ltd, stated that the agreement “marks an important milestone in Waaree Renewable Technologies Limited’s international expansion strategy. Entering the ANZ market through this proposed landmark project in New Zealand reflects our confidence in the region’s renewable energy potential and our ability to execute large‑scale, technologically advanced clean energy projects.”
About Waaree Renewable Technologies Ltd
WRTL, headquartered in Mumbai, focuses on solar EPC services and also develops, finances, constructs, owns and operates solar projects, including rooftop, ground‑mounted and open‑access solar farms. The company is expanding into adjacent transmission and distribution (T&D) segments.