According to an exchange filing, the company will undertake the project on a turnkey engineering, procurement, and construction (EPC) basis. The final contract value and execution timeline will be mutually decided at a later stage, following the signing of a definitive agreement between the two parties.

The company further clarified that the transaction does not involve any related parties. Neither the promoter, promoter group, nor any group companies have any interest in Viet Khanh or the project.

Waaree Renewable Technologies (WRTL) is a subsidiary company of Waaree Group and is spearheading the solar EPC business. The company provides clean energy to its clients by setting up both on-site solar projects (rooftop and ground-mounted) and off-site solar farms (open-access solar plants).

The company’s consolidated net profit jumped 82.7% to Rs 93.81 crore on a 74.4% increase in revenue from operations to Rs 476.58 crore in Q4 FY25 over Q4 FY24.

The counter rose 0.32% to Rs 988 on the BSE.