Mumbai, January 2026: Waaree Renewable Technologies Ltd. (WRTL), one of India’s leading renewable energy companies, has announced plans to establish a 120 MWp solar power park in Buldhana district, Maharashtra. The project, to be developed under the Independent Power Producer (IPP) model, represents a major step in the company’s strategy to expand its renewable energy portfolio and strengthen its presence in the clean energy sector.
According to official sources, the project is expected to involve a capital expenditure (capex) of approximately ₹360–420 crore, with funding to come from a mix of internal accruals and debt financing.
Project Details and Investment Structure
The upcoming solar power park will be spread across 360 acres of land and is slated for completion in FY27. The initiative aligns with WRTL’s broader renewable energy expansion roadmap, focusing on sustainable infrastructure and long-term power generation assets.
Manmohan Sharma, Chief Financial Officer (CFO) of WRTL, shared details about the project’s financial and technical scope, stating:
“The proposed 120 MWp solar power park at Buldhana will involve an estimated capital expenditure of ₹3 crore to ₹3.5 crore per MWp. This includes costs related to land acquisition, solar modules, balance-of-system components, and evacuation as well as grid connectivity infrastructure.”
Sharma further noted that the final capital outlay will depend on evolving factors such as project specifications, procurement timelines, and execution strategy, with the financing structure finalized closer to project initiation based on prevailing market conditions.
Advancing Renewable Energy in India
The Buldhana solar park is designed as an IPP project, reinforcing WRTL’s strategic focus on developing and operating renewable energy assets rather than relying solely on EPC (Engineering, Procurement, and Construction) contracts.
Typically, such large-scale solar installations require about three acres of land per MWp, depending on layout and technology design, ensuring optimal energy efficiency and land utilization.
WRTL currently derives the majority of its revenue from solar EPC contracts but is now actively diversifying into battery energy storage systems (BESS) and other green infrastructure initiatives. The company aims to strengthen its position as a comprehensive renewable energy solutions provider, catering to both industrial and utility-scale clients.
A Step Toward a Greener Future
This project marks another milestone in Waaree Renewable Technologies’ efforts to support India’s transition to clean energy. By combining advanced solar technology with sustainable design and strategic execution, the company continues to contribute to the country’s renewable capacity targets and decarbonization goals.
Ruchi Kumar is the associate editor at Entrepreneur News Network and TVW News India, where she leads editorial strategy, brand storytelling, and startup ecosystem coverage. With a strong focus on innovation, business, and marketing insights, he curates impactful narratives that spotlight India’s evolving entrepreneurial landscape.