GRE Renew Crosses 100 MWp Solar Capacity; Shares Hit Upper Circuit

Mumbai, July 16:GRE Renew Entertech Ltd. has crossed 100 MWp of cumulative solar installations, marking a key operational milestone even as its execution pipeline continues to expand. The company said its active EPC order book now stands at around 75 MWp, with an estimated value of ₹224 crore.

The update, shared through an exchange filing, comes just months after the company’s listing and reflects the pace at which it has been adding projects. GRE said it recently commissioned a 7.20 MW AC (9.678 MW DC) ground-mounted solar plant under the RESCO model, one of the projects included in its IPO pipeline.

Growth in the order book has been driven by a series of project wins during FY27. Among the larger additions is a 50 MW AC (65 MW DC) utility-scale solar EPC contract from Solarium Green Energy Ltd. in Maharashtra. The company noted that the value of this single order exceeds its consolidated revenue from operations for FY26, underlining the scale of its recent business wins.

GRE also highlighted that it recently secured another ₹17.75 crore solar EPC order, taking the cumulative EPC pipeline to 75 MWp. The company believes the expanding order book strengthens revenue visibility as it continues to focus on industrial, commercial and government-backed clean energy projects.

Managing Director Kamlesh Patel said the recent order wins and execution progress reflect growing customer confidence in the company’s capabilities and position it to benefit from continued momentum in India’s renewable energy sector.

Stock Market Snapshot

Investors responded positively to the business update.

GRE Renew Entertech share price hit the 5% upper circuit at ₹152.25 on July 16, as of 10:05 AM IST, after opening around ₹145. The stock quickly locked at the day’s upper price band following the announcement, indicating strong buying interest.

The move suggests the market viewed the combination of higher execution, a growing EPC pipeline and improved revenue visibility as a positive operational update.

Company Background

GRE Renew Entertech develops and executes solar power projects for industrial, commercial and institutional customers under both EPC (CAPEX) and RESCO (OPEX) models. Besides project execution, the company generates recurring income through long-term power purchase agreements and operations and maintenance services.

For FY26, the company reported a profit after tax of ₹13.6 crore, while continuing to expand its presence in India’s utility-scale and commercial solar market.

Conclusion

Crossing the 100 MWp installation mark is an important execution milestone for GRE Renew. Coupled with an EPC order book worth around ₹224 crore, the company has entered FY27 with a stronger project pipeline and improved revenue visibility. The focus now shifts to timely execution and converting this growing order book into earnings over the coming quarters.

Source:

• https://www.bseindia.com/stock-share-price/gre-renew-enertech-ltd/grerenew/544682
• https://www.bseindia.com/xml-data/corpfiling/AttachLive/f5cd7ed5-dc24-4470-86da-e8205fe1433a.pdf