GRE Renew Enertech Limited has crossed 100 MWp of cumulative solar installations while building an active EPC order book worth approximately ₹224 crores, reflecting the company’s growing presence in India’s utility-scale renewable energy sector.
The company announced that its consolidated active Engineering, Procurement and Construction (EPC) order book has reached 75 MWp, supported by several project wins secured during the first quarter of FY2026-27. The milestone comes as demand for large-scale solar projects continues to rise across India, driven by the country’s expanding clean energy ambitions and increasing investments in renewable infrastructure. The company’s expanding project pipeline reflects its increasing focus on larger utility-scale solar developments, a segment that continues to attract significant investment across India’s renewable energy sector.
Growing Presence in Utility-Scale Solar Projects
One of the biggest contributors to the company’s expanding order pipeline is a recently secured ₹175 crore turnkey contract from Solarium Green Energy Limited for a 50 MW AC / 65 MW DC ground-mounted solar photovoltaic project in Maharashtra.
According to the company, the value of this single project exceeds its consolidated revenue from operations of ₹122.9 crores reported for FY2025-26, indicating a shift towards higher-value renewable energy projects. GRE Renew Enertech also recently secured another ₹17.75 crore solar EPC contract, taking its cumulative active EPC order book to approximately 75 MWp, with an aggregate value of around ₹224 crores as of the end of the first quarter.
The growing order pipeline reflects increasing opportunities in India’s renewable energy sector, where developers continue investing in utility-scale solar infrastructure to support rising electricity demand and national clean energy targets.
100 MWp Milestone Highlights Execution Capability
Crossing the 100 MWp cumulative installation mark represents more than just another capacity milestone. For EPC companies, installed capacity demonstrates execution capability, project delivery experience and the ability to manage increasingly complex renewable energy developments. As utility-scale solar projects continue to increase in size, developers and investors often look at completed installations as an indicator of a company’s technical expertise and project management capabilities.
The latest milestone also suggests GRE Renew Enertech is strengthening its credentials in executing large-scale solar infrastructure across industrial, commercial and government segments.
RESCO Project Successfully Commissioned
Alongside the capacity milestone, the company announced the successful commissioning of a 7.20 MW (AC) / 9.678 MW (DC) ground-mounted solar power plant developed under the Renewable Energy Service Company (RESCO) or OPEX model. The commissioning marks one of the key objectives outlined during GRE Renew Enertech’s initial public offering completed earlier this year.
Unlike conventional EPC projects, where revenue is generated through project execution, the RESCO model allows developers to earn recurring income through long-term Power Purchase Agreements (PPAs) by owning and operating solar assets while supplying electricity to customers. This diversified business approach enables renewable energy companies to balance project-based revenues with long-term recurring cash flows.
India’s Solar EPC Market Continues to Expand
India’s renewable energy sector has witnessed growing momentum over the past few years, with central and state agencies regularly issuing tenders for utility-scale solar, wind and battery energy storage projects. As developers compete for increasingly larger projects, EPC companies capable of delivering engineering, procurement, construction and long-term operations have become critical partners in the country’s clean energy transition.
The demand for high-quality EPC execution has also increased as project developers seek reliable partners capable of delivering projects within strict timelines while maintaining performance standards. Against this backdrop, GRE Renew Enertech’s expanding order book reflects broader investment activity across India’s renewable energy infrastructure market.
Managing Director Comments
Commenting on the developments, Mr. Kamlesh Patel, Managing Director, GRE Renew Enertech Limited, said: “Our recent order wins and business acceleration represent an important milestone in our journey as we push towards strengthening our presence in the utility-scale solar segment. The fact that our active order book value has outpaced our entire previous year’s consolidated revenues reflects the trust our customers place in GRE’s execution capabilities. As India’s renewable energy sector continues to witness strong momentum, we remain focused on building reliable clean energy infrastructure and driving sustained business growth for our stakeholders.”
Business Model Supports Multiple Revenue Streams
GRE Renew Enertech operates through both the Engineering, Procurement and Construction (EPC) model and the Renewable Energy Service Company (RESCO) model, serving industrial, commercial and government customers under captive as well as non-captive arrangements.
While the EPC business generates revenue through project execution and annual Operations and Maintenance (O&M) contracts, the RESCO business focuses on developing long-term revenue streams through power purchase agreements. The company also stated that it will continue prioritizing the use of domestically manufactured solar modules and inverters across its future project pipeline, aligning with India’s efforts to strengthen domestic clean energy manufacturing.
Financial Performance Reflects Strong Growth
For the financial year ended March 31, 2026, GRE Renew Enertech reported a consolidated Profit After Tax (PAT) of ₹13.6 crores. According to the company, this represents a three-year compound annual growth rate (CAGR) of 147%, reflecting continued business expansion supported by increasing project execution and a growing renewable energy portfolio.
The Bigger Picture
GRE Renew Enertech’s latest announcement reflects more than a company milestone. It highlights the increasing scale of India’s renewable energy ecosystem, where EPC companies are moving beyond smaller rooftop installations to execute complex utility-scale solar projects. With a cumulative installed capacity exceeding 100 MWp, an active EPC order book worth approximately ₹224 crores, and an expanding presence in both EPC and RESCO businesses, the company appears well positioned to participate in the next phase of India’s clean energy growth.
As government agencies and private developers continue investing in utility-scale renewable infrastructure, experienced EPC companies are expected to play an increasingly important role in delivering the projects that will support India’s long-term energy transition.
