GRE Renew Enertech Crosses 100 MWp Solar Installations

GRE Renew Enertech Limited, based in Gujarat, has crossed 100 MWp of installed solar capacity while building a consolidated active order book worth approximately Rs 224 crore. The company is executing these projects under the Renewable Energy Service Company (RESCO/OPEX) model.

GRE Renew Enertech Limited stated that it has installed nearly 75 MWp of solar projects and successfully commissioned a 7.20 MW (AC)/9.678 MW (DC) ground-mounted solar power plant. The project was among the key objectives outlined in the company’s Initial Public Offering (IPO), which was completed in January 2026.

On a consolidated basis, the company reported a Profit After Tax (PAT) of Rs. 13.6 crore for the financial year ended March 31, 2026, representing a three-year Compound Annual Growth Rate (CAGR) of 147 percent.

Strengthening Operational Capacity

By June 2026, GRE Renew Enertech had installed more than 100 MWp of solar capacity. The company operates through both Engineering, Procurement and Construction (EPC/CAPEX) and Renewable Energy Service Company (RESCO/OPEX) business models, serving industrial, commercial, and government customers under captive as well as non-captive arrangements.

Through its EPC model, the company generates revenue from project execution contracts along with annual Operations and Maintenance (O&M) service agreements. Under the RESCO model, GRE focuses on long-term Power Purchase Agreements (PPAs), creating a steady stream of recurring revenue. To strengthen domestic clean energy supply chains, the company said it will continue prioritising the use of domestically manufactured solar modules and inverters across its upcoming projects.

Expanding Order Book

GRE Renew Enertech Limited said its growing order book has been supported by several new project wins during the first quarter of FY 2026-27. A major contributor to this growth was a recently secured project awarded by Solarium Green Energy Limited. Under the contract, GRE will execute a Rs. 175 crore turnkey project for a 50 MW (AC)/65 MW (DC) utility-scale ground-mounted solar photovoltaic (PV) plant in Maharashtra.

Notably, the value of this single project exceeds the company’s consolidated revenue from operations of Rs. 122.9 crore reported for FY 2025-26, highlighting GRE’s transition towards larger and higher-value renewable energy projects.

The company also recently secured a Rs. 17.75 crore solar EPC contract, taking its cumulative EPC order book to 75 MWp, valued at approximately Rs. 224 crore as of the end of the first quarter of the financial year. The expanding order pipeline further reinforces GRE’s growing portfolio of large-scale renewable energy projects and reflects its continued focus on delivering end-to-end clean energy infrastructure solutions.

Commenting on the developments, 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.”