Solarworld Energy Solutions Limited announced it secured a major engineering, procurement, and construction (EPC) contract worth about Rs 725.33 crore from NTPC Renewable Energy Limited (NTPC REL) for building a 250MWac grid-connected solar power project.
In an exchange filing, Solarworld said it has received a Letter of Award (LoA) from NTPC REL for an EPC package to develop a 250 MWac (Megawatt Alternating Current) grid-connected solar PV project. The order is valued at approximately Rs 725.33 crore, including taxes and is to be executed on a turnkey EPC basis. The project is scheduled to be completed in the financial year 2026–27, as per the terms of the LoA.
Solarworld entered the bourses recently with an IPO, and its shares got listed on September 30, 2025.
What this means for Solarworld
The NTPC contract award adds to Solarworld’s already strong order book, which also includes a separate, earlier EPC order of over Rs 806 crore for a battery energy storage system (BESS) project from Gujarat Urja Vikas Nigam.
Such large PSU orders for solar EPC players are also a marker of India’s utility-scale solar capacity addition. Solarworld, which raised around Rs 440 crore via its IPO in 2025, is using part of the proceeds to expand manufacturing capacity and set up a new solar cell facility, while continuing to bid for large EPC contracts across states.
Solarworld was listed on the stock market for Rs 351, and it is now trading close to 25 per cent lower.