VA Tech Wabag shares surged 3% on Tuesday after the company secured a major ₹1,000 crore order for a 100 MLD seawater desalination plant from Indosol Solar. This project marks Wabag’s entry into the solar photovoltaic (PV) sector, expanding its reach into renewable energy solutions.
The order from Indosol Solar includes engineering, procurement, installation, testing, and commissioning of the desalination plant for its solar PV manufacturing facility. The plant will be designed to maximise energy efficiency and water production, showcasing Wabag’s advanced technological capabilities in the desalination sector.
Also Read : RBI Nods Tata Merger, Creates 12th Largest NBFC, Explore!
The project is set to be executed over 38 months and will be followed by a 15-year operation and maintenance contract. This long-term partnership highlights Wabag’s commitment to offering sustainable solutions and maintaining strong client relationships through its expertise in desalination technology.
Saravanan Krishnan, Head of Desalination for Wabag’s India Cluster, expressed that the order represents a significant step for the company as it ventures into the solar PV industry. He noted that the project aligns with Wabag’s growth strategy, leveraging their experience to offer added value in the renewable sector.
Also Read : MCX Gold & Silver Futures Open Flat Amid Price Gains Today
In addition to the Indosol Solar order, VA Tech Wabag recently secured repeat orders from Reliance Industries for water treatment systems at their Dahej and Nagothane facilities. These orders, valued between ₹300-500 crore, further solidify Wabag’s position as a key player in the water treatment sector.
Since the beginning of the year, VA Tech Wabag’s shares have risen nearly 169%, and over the past year, the stock has surged more than 286%. This impressive growth reflects investor confidence in the company’s expanding portfolio and strategic moves into new sectors.
