Waaree Energies share price rises over 8% on solar power plant order; ACME Solar gains 4.4% on 250 MW project

Waaree Energies share price rose more than 8% on Thursday after the renewable energy firm's subsidiary won an order to develop a 170 MW solar power plant.

The stock rose as much as 8.52% to ₹3,445.45 apiece on the National Stock Exchange. It settled 3.79% higher at ₹3,295 a unit.

Waaree Energies' unit wins solar power plant order

The solar power plant will facilitate the generation and transmission of clean energy through the Inter-State Transmission System (ISTS). It will supply renewable power to Madhya Pradesh Power Management Company Ltd (MPPMCL) and Indian Railways, the company said.

ACME Solar share price rises after order win

The stock closed at ₹270.40, up 0.84%.

The company said the project includes a green-shoe option to expand the total capacity from 250 MW to 500 MW.

With the latest order, ACME Solar's total capacity is 6,970 MW.

Nikhil Dhingra, CEO of ACME Solar Holdings Ltd, said, "This win takes our overall portfolio to ~ 7 GW and committed portfolio of long-term power supply with NHPC to 930 MW. Out of this 930 MW, our existing 680 MW, 4 hours peak FRDE committed capacity with NHPC is expected to be converted to PPA shortly, given NHPC has signed 1280 MW PSA recently with Uttar Pradesh."

He said the project will likely have a scheduled commercial operation date (COD) in the financial year 2027-28, assuming the power purchase agreement (PPA) is signed in early FY26.

Meanwhile, renewable energy stocks like NTPC Green Energy, Premier Energies, and KPI Green Energy closed in the red, while Adani Green surged 6.38%.